Multifamily Housing and Condominium Overview With an increase in demand for luxury living accommodations in Las Vegas and a 100% sell out of the existing supply of recently delivered residential units, condominium prices have increased dramatically. The depth of demand far exceeds the amount of new supply forecasted over the next five years. In addition, the economies of scale associated with new residential, retail, hotel and office development on the Las Vegas Strip will only elevate the overall appeal of Strip living - and in turn push condominium values higher. THE RESIDENCES AT MANDARIN ORIENTAL 3740 S. Las Vegas Blvd DEVELOPER: MGM Resorts bin pee AT hog and he soereaeten vars za SUBMARKET: The Strip 1 SS eee ee YEAR BUILT/SELLOUT: 2009 a aie seecee cues dats ta NUMBER OF HOMES: 220 We, lw ie ye eee Gee ae ee josie se en Ea Ae Re MM Aur oS yet tC PEEG) a ee oe: ne we ae = eae aN (aed me Ree EL Men IR Se Seo od =F | ae a. Mae leet = pc BSI EE et ee ee oe gz lag Meena) Oy ot aa ACTIVE 3-BED/3-BATHS 3,922 $5,950,000 $1,517 - - - $3,173 ACTIVE 2-BED/2-BATHS 2,998 $3,300,000 $1,101 - - - $2,765 ACTIVE 2-BED/2-BATHS 2,998 $2,799,888 $934 - - $2,535 SOLD 3-BED/3-BATHS 5,628 $5,400,000 $959 3/23/15 $5,400,000 $959 $5,628 SOLD 3-BED/3-BATHS 3,922 $4,750,000 $1,211 5/20/15 $3,875,000 $988 $3,344 SOLD 3-BED/3-BATHS 3,980 $3,975,000 $999 3/31/15 $3,800,000 $955 $3,386 SOLD 2-BED/2-BATHS 2,755 $3,400,000 $1,234 5/20/15 $3,400,000 $1,234 $2,512 SOLD 2-BED/2-BATHS 2,755 $2,900,000 $1,053 12/31/14 $2,900,000 $1,053 $2,575 HOUSE_OVERSIGHT_018789