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Brokers Recognized with Unprecedented Earning Opportunities in Conjunction with New Pricing and Cash Incentives Available to Potential Buyers
Las Vegas, NV (April 18, 2012) – CityCenter, the groundbreaking 67-acre urban core redefining life on the Las Vegas Strip, today announced the introduction of an unprecedented new commission rate to its co-operating brokers for its exclusive collection of CityCenter Residences. The new commission rate offers 5 percent commission on new sales closed by June 30, 2012, nearly double the standard co-operating broker rate. This new commission model is announced in conjunction with new pricing and cash incentives offered to potential buyers of The Residences at Mandarin Oriental, Las Vegas and Veer Towers – two of the premier residential developments built in the U.S. in the past five years – with a 25 percent reduction from current levels, yielding buyers a total savings of 48 percent.
“We’re recognizing our brokers’ hard work by rewarding them with the opportunity to earn nearly double the commission on new residential sales,” said Tony Dennis, executive vice president, CityCenter Residential Division. “By offering our co-operating brokers a five percent commission in conjunction with new price reductions and buyer incentives, we’re further increasing their earning potential and CityCenter’s unmatched appeal.”
CityCenter – the pulse of the Las Vegas Strip and an unrivaled urban resort destination featuring gaming, sophisticated dining, flagship retail and entertainment – is offering a select group of its remaining inventory with pricing and purchase initiatives that will make this an appealing buy for purchasers. The 25 percent reduction on current pricing is reached through the combination of an initial 10 percent markdown, along with 15 percent in additional incentives, including the following programs: 48-Months of Carrying Costs, Buy-Back Guaranty, 36-Month Cash Back, Turn-Key Furniture Packages through Tui Lifestyle, and CityCenter M life Curated Living Rewards. This purchase opportunity is ideal for prospective buyers seeking high-quality residential properties with great pricing and initiatives, and small portfolios of rented residences with attractive incentives to offset the cost of ownership.
The Residences at Mandarin Oriental, Las Vegas—located on the upper half of the 47-story tower—boast 225 exclusive homes including stunning one-, two- and three- bedroom units ranging in size from approximately 1,110 to 4,000 square feet. Designed by Kohn Pedersen Fox Associates, The Residences at Mandarin Oriental, Las Vegas enjoy personalized access to Mandarin Oriental, Las Vegas’ services and amenities. Pricing starts at $880,000.
Veer Towers, designed by internationally renowned architect Helmut Jahn, is an architectural and artistic landmark on the global scene—a masterful translation of energy and excitement into physical form. Inclined at a five-degree angle, each tower features 335 residences, including studios, one-, two- and three-bedroom flats, and penthouses ranging from 500 to nearly 3,300 square feet. Pricing starts at $315,000.
For more information about The Residences at Mandarin Oriental, Las Vegas and Veer Towers, as well as details about how to become a co-operating broker and the 5 percent commission opportunity, please call (702) 590-5999, toll-free (866) 708-7111, or visit www.citycenter.com.
CityCenter is an unprecedented development on 67 acres between Bellagio and Monte Carlo resorts on the Las Vegas Strip. CityCenter is a joint venture between MGM Resorts International (NYSE: MGM) and Infinity World Development Corp, a subsidiary of Dubai World. CityCenter features the AAA Five Diamond ARIA, a 61-story, 4,004-room gaming resort; luxury non-gaming hotels including Las Vegas’ first Mandarin Oriental and Vdara Hotel & Spa; Veer Towers, the development’s only strictly residential buildings; and Crystals, a 500,000-square-foot destination for luxury shopping and dining. Mandarin Oriental, Las Vegas and Veer Towers offer approximately 900 residential units. CityCenter also features a resident Cirque du Soleil production celebrating the timeless musical legacy of Elvis Presley; and an unparalleled Fine Art Collection with works by acclaimed artists including Maya Lin, Jenny Holzer, Nancy Rubins, Claes Oldenburg and Coosje van Bruggen, among others. CityCenter is a design collaboration between MGM Resorts International and eight internationally acclaimed architectural firms including Pelli Clarke Pelli, Kohn Pedersen Fox, Helmut Jahn, RV Architecture LLC led by Rafael Viñoly, Studio Daniel Libeskind, David Rockwell and Rockwell Group, and Gensler. At the forefront of sustainability, CityCenter is the world’s largest private green development. ARIA, Vdara, Crystals, Mandarin Oriental, Las Vegas and Veer Towers all have received LEED® Gold certification by the U.S. Green Building Council. This marks the highest LEED achievement for any hotel, retail district or residential development in Las Vegas. For more information about CityCenter, please visit citycenter.com.
Media contact: Courtney Finley, Brittany Pass or Erin Cain at Glodow Nead Communications, 415 394-6500 or Courtney@glodownead.com.