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Newport Lofts auction to be held

Home shoppers have one more week to tour Newport Lofts during an open house before the Aug. 29 auction.

According to James Byczek of Chartwell Group Accelerated Marketing Division, hundreds of home buyers have visited the 24-story high-rise during a month-long series of open houses leading up to the sales event. Final tours of 20 available condominiums are planned today and Sunday from noon to 4 p.m. and Friday from 4 to 8 p.m. The sales office will also be open Monday through Thursday from 11 a.m. to 4 p.m.

“Time is of the essence for buyers who are seeking a new home in a luxury high-rise community with the prime location of downtown Las Vegas,” Byczek said, whose company is conducting the special sales event in cooperation with Auction One Las Vegas, Greg Harelson, Nevada broker and auctioneer.

“During the open houses, potential buyers have the opportunity to not only tour one of the stylish, open luxury lofts for sale; they also get a glimpse of the one-of-a-kind luxury lifestyle enjoyed by the residents of Newport Lofts. The opportunity to visit is limited with the auction only a week away,” he said.

The auction will be held at the Renaissance Las Vegas Hotel, 3400 Paradise Road, with registration beginning at 2 p.m. and the auction scheduled at 3 p.m. A cashier check is required to bid and buyers must represent that they have inspected the residence that they intend to purchase. Interested buyers should attend an open house or visit the sales office for specific bidding requirements.

“As Newport Lofts enters its close-out phase, 20 of its remaining condominiums will be sold during a highly anticipated auction with published reserve prices of up to 64 percent off previous prices,” Byczek said and, according to Byczek, reserve prices will start from $90,000 to $450,000, a significant decrease from recently published prices of $179,900 to $949,900.

“We are offering excellent financing to qualified purchasers at the Newport Lofts auction with 90 percent financing for owner-occupants and 80 percent for second-home buyers and investors,” he said.

A range of loft-style designs will be sold: Studios measuring from 912 to 1,062 square feet; one-bedroom, one-bath homes from 1,052 to 1,073 square feet; two-bedroom, two-bath designs ranging from 1,418 to 1,654 square feet; and penthouses with two bedrooms, two baths measuring 1,904 to 3,052 square feet.

To visit the high-rise at 200 Hoover Ave. in downtown Las Vegas, take Charleston Boulevard to Las Vegas Boulevard, travel north and turn left on Hoover.

For additional information about Newport Lofts, the upcoming auction and preregistration, call the sales office at 880-4321 or visit chartwellgroup.com or newportloftslv.com.

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