Vegas Magazine - Niche Media - There is a place beyond the crowds, beyond the ropes, where dreams are realized and success is celebrated. You are invited.
Issue link: http://digital.greengale.com/i/533211
photography by Dennis owen (penthouse); bryan hainer (spanish palms) Sanderson and partner Michelle Manley have sold more t ha n $50 m illion wor t h of condos at CityCenter's Veer Towers to buyers like 31-year-old Cameron Siskowic. The former professional foot- ball player, now a nightlife consultant, purchased a 2,177-square-foot penthouse for less than $1 million and is now looking to sell it for $1.85 million, after adding features like LED mood lighting that can change from blue to red to green and a bathtub that vibrates in sync with music. In addition to the latest in home automation and party technology, millennials want access to world- class dining a nd shopping. Neil Patel, a 30 -yea r- old tech ent repreneur and Sanderson client who f lipped a Mandarin Oriental condo and now lives in another unit he purchased in the luxur y high- rise, likes the convenience of Mandarin's MOzen restaurant and the Tom Ford and Dolce & Gabbana boutiques at the nearby Crystals shopping center. "I have a bad shopping habit because of living at the Mandarin," Patel says. "I spent, like, $100,000 on clothes last year." But h is i nvest ment s at Ma nda r i n Or ient a l include a residence he sold for a profit of more than $175,000, and living at CityCenter means he doesn't need a car, so overall he's well in the black. Both Patel a nd Siskow ic refer to Sa nderson a s t hei r "Vegas mom," a property Sherpa who helps them manage their holdings well. Millennia ls w it hout a ba ller budget a lso have needs that developers are responding to. At Spanish Pa lms (spanishpalmslv.com), on Sout h R a inbow Boulevard, condos start at around $120,0 0 0, an affordable price for many first-time buyers. "What's great about the property is that it's a garden-style condominium," says Uri Vaknin, a partner at KRE Capit a l, which co - ow ns t he development. "A nd every condo has a true garage, like a family house." But a lt hough t he building wa s desig ned for a ca r- dr iv ing crowd, on-site a menit ies mea n resi- dents don't have to leave the premises for a fitness center, two pools, communal barbecue grills, a dog park, a putting green, and a new playground. "It's attractive to young families," Vaknin says. T he por t fol io of K R E Capit a l a lso i ncludes Dow ntow n's Ogden (ogdenlv.com), where a ll t he communal areas, including the pool and sky deck, have been equipped with Wi-Fi. "M illennia ls a re a ll about connect iv it y," says Vaknin, adding that Downtown's bike lanes, res- t aura nt s, a nd ba rs a ll cont r ibute to a yout hf ul lifest yle. "It 's not like t heir pa rent s' generat ion, which lived in the suburbs and drove places. They want walkability, ease of access. The car is not the most important thing anymore." Millennials are also more eco-conscious, so the Ogden, which has sold one-, two-, and three- bedroom condos from the mid-$200,000s to the mid-$600,000s, placed energy-saving Nest Learning Thermostats in every unit. But being environmentally friendly and reducing energy bills is also a priority at the market's high end. "It's funny—you think people with this kind of net worth don't care about [electricity bills], but they do," says broker Bob Barnhart of Luxurious Real Estate (luxurious-estates.com). "They're very aware of ever y expense. Being socially responsible is now the cool thing to do." Barnhart is marketing the new 6,780-square-foot, $3.499 million mansion at 618 St. Croix Street, built by Philippe Ziade of Growth Luxury Homes, a resi- dence so green that the US Department of Energy categorizes it as a Zero Energy Ready Home. Of course, marketing to millennials involves sell- ing a lifestyle, so Barnhart commissioned photos that include both a gorgeous brunette in front of a Lamborghini and a young family making cupcakes in the kitchen. The idea is that this generation, which values customization and gets design inspiration from Houzz and Pinterest, wants more than a prop- erty. They want the ability to create the precise life they desire. Real estate is aspirational, after all. So it 's no su r pr ise t hat broker Iva n Sher of Shapiro & Sher (lasvegasfinehomes.com) partnered with Tesla Motors to offer test drives of electric cars during a marketing event for the custom home-site development Ascaya (ascaya.com) in Henderson. "The buyer of a Tesla vehicle is someone who gets the shift in technology and society and also has the ability to purchase real estate," Sher says. Twent y-nine-year-old broker Kamran Zand of Luxur y E st ates I nter nat iona l (luxuryestates.com) says he's had success courting millennials—like a Ma nda r i n Or ient a l buyer who va let -pa rk s h is street-legal Mercedes-Benz golf cart—because he understands how they want to live. He resides and shops at CityCenter himself, for starters. "A lot of [buyers] turn out to be my friends," he says. "Some of the parties they've invited me to are just off the hook. They know I get it. I'm not posing. I'm living the lifestyle they want to live in Vegas." A lifestyle in which the next party you get invited to may just involve a vibrating bathtub. V "it's not like their parents' generation. the car is not the most important thing anymore." —uri vaknin The pool area at Spanish Palms. above: The living room of Cameron Siskowic's penthouse. 104 vegasmagazine.com haute property