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i went and looked at buying one of those along with the Palms and Hard Rock...i'm holding off right now because in 2007 all of these units are going to hit the market and i'm not sold they are a great investment. there are 80 towers which have been annouced...some will never come to market but how many $500K+ units can Vegas support?
FYI, its 30% cash down UPFRONT on the MGM...20% on the Palms and Hard Rock and most others.
fees are around $400 per month for the MGM...you get 50% of all revenue generated by their hotel management program, but you also have to pay them another $400 per month in management fees.
the units themselves are pretty sweet - there is a full size model of the single and 1BR units in the sales office in the MGM itself...they are fully furnished with high end appliances, spa tubs, flat screens, etc.
Turnburry who is building them has a GREAT reputation....
IMO the project i'd go into would most likely be the Cosmopolitan right next to the Bellagio....probably Palms or Hard Rock 2nd choice....
after thinking about it, i'm looking at buying a unit at the Shore Club instead in South Beach....
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