ManhattanWest touts up sales in down market

While some developers are pulling back on construction and lowering prices in the face of today's challenging market, Gemstone Development is doing the opposite, according to Ed Monce, chief executive officer of The Ryness Co., one of the nation's largest new home sales and marketing organizations.

On the heels of strong presales at its 700-unit, 20-acre, mixed-use Las Vegas condominium project, ManhattanWest, Gemstone is working two shifts around the clock to complete the community's first five buildings, and has increased prices five times in the past six months.

"More than 50 percent of the first phase has been sold in the first six months," Monce said. "That pace makes ManhattanWest one of the top-selling condominium communities in the country for 2007."

To celebrate the project's success, ManhattanWest is hosting a VIP cocktail party and sales release, which is open to the public, Nov. 15 from 6 to 8:30 p.m.

The event will feature model tours, food, cocktails and musical entertainment by jazz duo, the HagerRivera Project.

Alex Edelstein, CEO of Gemstone Development, will make a live presentation at 7:15 p.m. To RSVP, call 893-2663.

Gemstone credits the project's success in this difficult market to novel features such as ManhattanTransfer, a time-saving errand service that picks up groceries for residents.

"I'm really looking forward to the convenience of the community." said buyer Carlos Arias, "No other developer in Las Vegas is offering anything like this."

Residents can call in or stop by in the morning to order groceries, and have them waiting for pick-up in refrigerated storage when they come home from work.

Another innovative feature catching the attention of buyers is ManhattanMD, an on-site medical practice serving the residents of the community.

"We're bringing back the concept of the town doctor, and a more personal level of care," Edelstein said.

Residents will usually be able to see the doctor within 24 hours, and can get there by walking.

ManhattanWest will feature an artisanal coffeehouse that turns into a wine bar at night, and a ninth-story rooftop lounge and pool deck, featuring views of Red Rock Canyon and the Strip.

"We believe that building a community is not just about price," Edelstein said. "Selling 50 percent of our first phase in six months, while steadily raising prices, demonstrates that even in a down market there is always demand for an innovative product."

To reach the ManhattanWest sales center, take Interstate 215, the Las Vegas Beltway, to the Russell Road exit and head west. Head south on Frontage Road, turn right on Oquendo Road and turn right into the Desert Canyon Office Park.

For more information, visit manhattanwest.com or call 866-391-2533.