Clooney Rolls Craps In Vegas Development Project
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The problem with celebrity is that over time people start to believe their own press clippings. So George Clooney has learned when he ventured from the silver screen into the ultra competitive world of real estate development. Star power has definately lost out to long term business prowess as Clooney sold out his stake in a 3 billion development project.
While Vegas is slowing down there is still money on the table. But the pros want their money and when things were flush it was okay to let the amateurs sniff around the edges. But when the market tightens the wannabees get flushed out very quickly. As we are seeing now with George Clooney.
Some of the newest high-profile luxury condominium projects in Sin City have been folding like a house of cards. The latest to throw in his hand was actor George Clooney, who announced an agreement with his partners Monday to sell his stake in a proposed $3-billion condo-casino project near the Strip.
Clooney and other latecomers are learning that they can’t compete with big-name casino-hotels for workers, building materials and brand identity.
But other ambitious high-rise housing and hotel projects from well-established players are going strong, thanks to their deep pockets and access to experienced developers. Others are benefiting from having entered the game earlier in the boom. via Los Angeles Times.
Am I the only one that finds it odd that the ONLY place that looks to be seriously warming is ...
It seems there are numbers posted about how much it could cost the US in home sales from people holding ...
The only people holding off will be those that are financially secure and can manage to hold off. How ...
What an awesome way to generate traffic for a story. Were they trying to time that for Sweeps Week? ...
That's awful. I wonder if using that tactic , if a building can be sold or used as collateral. ...
Good point about people possibly holding off now. The 4.5 percent interest rate could be a self-fulfilling prophecy. 
wow this is a wonderful creation...............i would like to be there once even in my life time........... 
Absolutely agree with Jon, excellent site and very imformative. Keep reporting to us please! 
I will say that had I never been to that site and seen Dean's many deals that he documented and ...
Great Real Estate
post ... very interesting. 
