Two high-rise projects have surpassed $800 million in sales in what will add luxury inventory to the Las Vegas marketplace.
The $1.3 billion Four Seasons Private Residences Las Vegas in MacDonald Highlands in Henderson leads the way with about $685 million in sales with 121, or 71 percent, of its 171 units among two towers sold since launching in May 2023.
The 32-story Cello Tower $400 million-plus condo and retail project in downtown Las Vegas with 240 units has surpassed $150 million in sales.
Craig Eddins, executive vice president for the Four Seasons project, called it “full steam ahead” and described how they’re averaging about one sale a week.
“When the tariffs hit (earlier this year), we had a quiet window for about 45 days, and then all of a sudden the faucets opened and people showed up,” Eddins said. “They are coming from different markets. There are local people making a lateral move that want to simplify their lives. And the northwest is coming on strong. We have several buyers from the Seattle market, Portland and Vancouver, British Columbia.”
Some 40 percent are local buyers and 60 percent from outside of Nevada with Southern California and Northern California leading the way, Eddins said. They are also seeing some European buyers.
The Four Seasons site has been mobilized with construction crews. Site excavation has been completed and cranes are now in place. MJ Dean Construction is on-site and slated to pour the foundation this month.
“Everything goes underground first and comes out of that,” Eddins said. “The pylons are being poured and concrete pumped into them. The first layers will be going vertical in the fourth quarter of this year, and then it will start to stack from there and go up quickly.”
The project is still slated to be completed in the summer 2027. The two-tower project, designed by Wimberly Allison Tong & Goos, has residences available for sale that range from 2,288 square feet to 8,622 square feet on the interior and 621 square feet to 3,559 exterior square feet. Residences will feature semi-private elevators, private garages, and fully furnished interiors done by Wimberly Interiors. Each residence will offer customizable terraces equipped with outdoor kitchens, social gathering spaces and dining areas.
The development also features three multilevel resort-style pools and the ability for residents of larger units to have pools outside of their condos.
Prices continue to rise several hundreds of thousands of dollars for the units from late last year and into the millions for penthouses. The least expensive residence starts at $3.95 million for two bedrooms at 2,288 square feet. Three bedrooms at 3,367 square feet start at $5.4 million while four bedrooms at 4,199 square feet start at $6.15 million. Junior penthouses at 4,719 square feet and 1,347 exterior space start at $12.25 million. The penthouses available start at $25.5 million for 6,466 square feet and 3,109 square feet of exterior space.
“Prices will continue to increase throughout the project all the way to the end,” Eddins said. “That’s the motivator for buyers to come in now. Once I make the big announcement (this summer) with the financier we will have a significant price increase. The smaller the inventory, the prices go up, and that benefits our early buyers.”
The most expensive unit on the market that’s on the Multiple Listing Service is $32 million for a penthouse.
“This is the grand dame,” Eddins said. “It’s the biggest one at 8,400 square feet of interior and 3,364 exterior, a full-sized pool, Jacuzzi, outdoor dining area and outdoor kitchen. It’s at the highest point in the project.”
The project during the last three months introduced Sky Villas, units of 8,622 square feet on the interior and up to 2,238 square feet of exterior space. Those range from $15.5 million to $16.25 million and fall below the junior penthouses on the 19th and 20th floors and 17th and 18th floors of the 24-story south tower.
“We had people asking for a little bit more,” Eddins said. “They wanted larger residences. We will do very well with the penthouses and junior penthouses. We combined residences adding a stairwell between the two and put the primary bedroom and great room in that space. It’s a fun and unique product that gives you two levels and amazing views and double the outdoor space and double the interior space. You also end up with a six-car garage.”
Under the Four Season team, there will be 24-hour concierge service, including pet and car services and catering. Residents will have access to private chef services, in-residence wine cellars and the option to rent a private wine room in the north tower. It has partnered with Wolfgang Puck Fine Dining Group as the exclusive food and beverage provider that will operate a restaurant, special events and pool offerings.
The project is a development of Las Vegas-and Mexico-based Azure Resorts & Hotels and Canada-and New York-based Luxus Development.
“We’re excited about the market,” Eddins said. “I know there’s some scuttlebutt about things slowing down a little bit, but we’re seeing a steady flow of buyers and people making a move to Las Vegas.”
Cello Tower
The 32-story Cello Tower is part of a larger project, Origin at Symphony Park with 6 acres of 54,000 square feet of retail and dining space, 48,000 square feet of office space scheduled for completion in the fourth quarter of 2026. Cello Tower, which will have a resort-style pool, fitness center and 24-hour concierge services, will be completed in 2027.
Starting prices are $780,000 for residences while penthouses start at $7.6 million. Two penthouses sold for just under $9 million.
Project broker Brian Krueger with Coldwell Banker Premier Realty said they held the groundbreaking ceremony a month ago, and that construction will start later this summer. Besides Las Vegas residents, Newport Beach in Southern California has been a feeder market, he said.
“While the general market has seen some slowing down not just here but everyone, one of the things we’re promoting to counteract the other market conditions the country is seeing with some people on the sidelines waiting for interest rates to come down or prices to come down — we’ve pivoted to more of a safe haven where you don’t have to put down the total purchase price. We only require a 20 percent deposit that locks in the current construction prices. Then you have time to wait.”
“Our buyers have a lot of time to wait,” Krueger said. “They don’t have to sell their home right now. It gives them time to wait through market conditions, but it also gives them time to plan because a lot of buyers are coming from Vegas. They are selling their homes and want a walkable urban living destination environment that we’ve been pitching since day one. That allows their home to appreciate even more, and it tends to take away from the stress that comes with a real estate transaction.”
