LuxurySkyRise Year End 2013

VEGAS

2 0 1 3

LUXURYSKYRISE YEAR END

Perspective 2013

As we look back on the highrise market in 2013, we saw increases in median sales price in virtually all towers while maintaining the same overall sales volume as 2012.

Foreign investors continue to be a large part of the market, looking to capitalize on current market pricing, which in many cases is far below the pricing of similar caliber products in other markets.

With attractive pricing in some of our premier towers, the response was

again significant this year as evidenced by the tremendous activity at Mandarin Oriental, One Queensridge Place, Veer Towers, and The Martin.

With the advent of major developments on the Strip this year including breaking ground on the new Genting Group Casino Resort, the opening of the world’s largest roller-coaster - “The High Roller”, and beginning construction on MGM Resort’s new stadium it is very likely Las Vegas will be in the spotlight. This additional attention could translate into additional demand and with only the existing inventory on hand we are apt to see continued price increases.

Meaning, that the best buying opportunities are most likely going to occur in the near term.

The data on the following pages will provide insight into select highrise developments in the Las Vegas Valley.

Please contact me when you are ready to buy or sell, and put our local expertise and global reach to work for you.

Isaac Moore 702.306.5866 Ike@SynergySIR.com

* All information from sources deemed to be reliable although not warranted or guaranteed by Isaac Moore or Sotheby’s International Realty®

VegasLuxurySkyRise.com

16

6

Fash Mirage / TI Caesars Palace

Gold Coast Rio

Palms

5

P

Bellagio

3

4

2

Cosmopolitan

Bally’s Paris

City Center

Monti Carlo NewYork NewYork

1

Planet Hollywood MGM Grand

Excalibur Tropicana Luxor

D

LV

eg

sV

La

B as

Mandalay Bay

McCarran International Airport

14

Downtown

12

11 8

15

13

Stratosphere

Sahara

Circus Circus

9

Wynn / Encore

Fontainebleau Riviera

Hilton

hion Show Mall

Las Vegas Country Club

10

Las Vegas Convention Center

Venetian Palazzo Sands Convention Center

Wynn Golf Course

7

Harrahs Imperial Palace Flamingo Bill’s

UNLV Thomas & Mack Center

1.

2.

3.

4.

MGM Signature Mandarin Oriental Veer Towers Panorama Towers

5.

6.

7.

8.

The Martin Palms Place Park Towers Trump

9.

10.

11.

12.

Metropolis Regency Towers Sky Allure

13.

14.

15.

16.

Turnberry Place Newport Lofts Soho Lofts One Queensridge

Mandarin

As the most prestigious residential address on the Las Vegas Strip, Mandarin Oriental sets the standard for luxury highrise living with its unparalleled service. They have received an overwhelming response to their attractive pricing and a few great opportunities still exist. Now is the time to take advantage of these remarkable residences.

# of Transactions

Average Sales Price

Median Sales Price

REO

Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012

155

$203,269

$175,000

6%

22%

$545,000

$95,159

$808

$183

2013 Δ

102 -53

$221,735 $18,466

$190,000 $15,000

5%

21%

$640,000 $95,000

$124,900 $29,741

$549 -$259

$224 $41

# of Transactions

Median Sales Price ($)

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012

53

Average Sales Price ($) $181,258

$165,000

9%

23%

$380,000

$113,000

$407

$184

2013 Δ

37 -16

$274,314 $93,056

$192,500 $27,500

3%

16%

$1,650,000 $1,270,000

$120,000 $7,000

$552 $145

$195 $11

# of Transactions

Average Sales Price

Median Sales Price

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012

65

$267,276

$245,000

0%

29%

$612,000

$150,000

$628

$271

2013 Δ

44 -21

$336,876 $69,600

$237,000 -$8,000

0%

11%

$1,605,000 $993,000

$180,000 $30,000

$925 $297

$337 $66

# of Transactions

Average Sales Price

Median Sales Price

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012

54

$160,243

$197,500

22%

11%

$700,000

$89,000

$278

$89

2013 Δ

27 -27

$248,061 $87,818

$224,000 $26,500

19%

15%

$845,000 $145,000

$129,000 $40,000

$343 $65

$104 $15

Average Sales Price $1,491,667 $1,059,143 -$432,524

Median Sales Price $1,612,000 $770,000 -$842,000

% REO

% Short Sales

2012 2013 Δ

# of Transactions 3 89 86

0% 0%

0% 0%

Sales Price (Max) $1,925,000 $3,100,000 $1,175,000

Sales Price (Min) $1,250,000 $295,000 -$955,000

Sales $/SF (Max) $919 $790 -$129

Sales $/SF (Min) $597 $265 -$332

# of Transactions

Average Sales Price

Median Sales Price

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012

1

$375,000

$375,000

100%

0%

$375,000

$375,000

$119

$119

2013 Δ

9 8

$420,444 $45,444

$425,000 $50,000

0%

33%

$525,000 $150,000

$330,000 -$45,000

$180 $61

$119 $0

# of Transactions

Average Sales Price

Median Sales Price

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

26

$1,366,725

$1,015,000

4%

15%

$3,200,000

$637,000

n Oriental At CityCenter

2012

VegasLuxurySkyRise.com Sales $/SF Sales $/SF 2013 - TIME Nevada, LLC (Max) (Min) $568

$246

Condotels MGM SIGNATURE The popularity of this condotel property over the past few years is now reflected in the more limited amount of inventory available for sale. Sales volume is down over 34% from the same time last year and is primarily due to the reduced inventory resulting in higher average sales price. The balance has shifted somewhat giving Sellers more leverage than before, but pricing is still far off from the peak and is still considered a good deal. # of Transactions

Average Sales Price

Median Sales Price

REO

Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012

155

$203,269

$175,000

6%

22%

2013 Δ

102 -53

$221,735 $18,466

$190,000 $15,000

5%

21%

$545,000

$95,159

$808

$183

$640,000 $95,000

$124,900 $29,741

$549 -$259

$224 $41

# of

Average

Median Sales

Sales Price

Sales Price

Sales $/SF

Sales $/SF

PALMS PLACE Hip and modern is definitely the theme of Palms Place and continues to get a lot of attention from buyers.

Sales volume is down slightly from the same time last year due to a lack of inventory. Prices are still offering great value and will likely continue to be in demand for the remainder of this year.

# of Transactions

Average Sales Price

Median Sales Price

REO

Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012

155

$203,269

$175,000

6%

22%

$545,000

$95,159

$808

$183

2013 Δ

102 -53

$221,735 $18,466

$190,000 $15,000

5%

21%

$640,000 $95,000

$124,900 $29,741

$549 -$259

$224 $41

# of Transactions

Median Sales Price ($)

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012

53

Average Sales Price ($) $181,258

$165,000

9%

23%

$380,000

$113,000

$407

$184

2013 Δ

37 -16

$274,314 $93,056

$192,500 $27,500

3%

16%

$1,650,000 $1,270,000

$120,000 $7,000

$552 $145

$195 $11

# of Transactions

Average Sales Price

Median Sales Price

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012

65

$267,276

$245,000

0%

29%

$612,000

$150,000

$628

$271

2013 Δ

44 -21

$336,876 $69,600

$237,000 -$8,000

0%

11%

$1,605,000 $993,000

$180,000 $30,000

$925 $297

$337 $66

# of Transactions

Average Sales Price

Median Sales Price

% REO

2012

54

$160,243

$197,500

22%

11%

$89,000 primarily $278 from international $89 seeing$700,000 more attention,

2013 Δ

27 -27

$248,061 $87,818

$224,000 $26,500

19%

15%

$845,000 $129,000 $343gone down $104 slightly buyers.

The number of sales has

2012 2012 2013 2013 ΔΔ

# of Average Median Sales # of Average Median Sales Transactions Sales Price Price Transactions Sales Price Price 155 $203,269 $175,000 3 $1,491,667 $1,612,000 102 $221,735 $190,000 89 $1,059,143 $770,000 -53 $18,466 $15,000 86 -$432,524 -$842,000

2012 2012 2013 2013 ΔΔ

Average Average Median MedianSales Sales ##ofof Transactions Sales SalesPrice Price Price Transactions Price ($) ($) $375,000 $375,000 531 $181,258 $165,000 $420,444 $425,000 379 $274,314 $192,500 8 $45,444 $50,000 -16 $93,056 $27,500

2012 2012 2013 2013 ΔΔ

Average Median MedianSales Sales ##ofof Average Transactions Sales SalesPrice Price Price Transactions Price 26 $1,366,725 $1,015,000 65 $267,276 $245,000 63 $1,486,016 $1,200,000 44 $336,876 $237,000 37 $119,291 $185,000 -21 $69,600 -$8,000 ##ofof Transactions

Average Median MedianSales Sales Average Sales Price Price

TRUMP TOWER

Sales Price Sales Price Sales $/SF Sales $/SF % Short Sales This classic and luxuriously appointed condotel is now (Max) (Min) (Max) (Min)

$145,000

REO % REO 6% 0% 5% 0%

$40,000

$65

$15

from same time last year, but we are definitely seeing

Sales Price Sales Price Sales $/SF Sales $/SF Short Sales Sales Price pricing Sales Price Sales $/SF Salesstill $/SF upward There are % Short Sales some (Max) (Min)pressure.

(Max) (Min) great (Max) (Min) (Max) (Min) 22% $545,000 on $1,250,000 $95,159 $808 $183 opportunities developer inventory 0% $1,925,000 $919 for those $597who are 21% $640,000 for luxury $124,900 $549 $224 0% $3,100,000 $295,000 $790 with opportunistic $265 still looking on the Strip $95,000 $29,741 -$259 $41 $1,175,000 -$955,000 -$129 -$332

pricing.

REO %%REO

ShortSales Sales %%Short

100% 9% 0% 3%

0% 23% 33% 16%

REO %%REO

ShortSales Sales %%Short

4% 0% 0% 0%

15% 29% 2% 11%

REO %%REO

ShortSales Sales %%Short

SalesPrice Price Sales (Max) (Max)

SalesPrice Price Sales (Min) (Min)

Sales$/SF $/SF Sales (Max) (Max)

Sales$/SF $/SF Sales (Min) (Min)

$375,000 $380,000 $525,000 $1,650,000 $150,000 $1,270,000

$375,000 $113,000 $330,000 $120,000 -$45,000 $7,000

$119 $407 $180 $552 $61 $145

$119 $184 $119 $195 $0 $11

SalesPrice Price Sales (Max) (Max) $3,200,000 $612,000

SalesPrice Price Sales (Min) (Min) $637,000 $150,000

Sales$/SF $/SF Sales (Max) (Max) $568 $628

Sales$/SF $/SF Sales (Min) (Min) $246 $271

SalesPrice Price Sales (Max)

SalesPrice Price Sales (Min)

Sales$/SF $/SF Sales (Max)

Sales$/SF $/SF Sales (Min)

$4,500,000 $1,605,000 $1,300,000 $993,000

$600,000 $180,000 -$37,000 $30,000

$958 $925 $390 $297

$264 $337 $18 $66

Δ 2013 Δ

-27 89 #86 of Transactions #3of Transactions 89 1 86

$87,818 $1,059,143 -$432,524 Average Sales Price Average $1,491,667 Sales Price $1,059,143 $375,000 -$432,524

$26,500 $770,000 -$842,000 Median Sales Price Median Sales $1,612,000 Price $770,000 $375,000 -$842,000

0%

0%

% REO

% Short Sales

% 0% REO 0% 100%

0% Sales % Short 0% 0%

0%

33%

% REO

% Short Sales

%100% REO 0% 4%

0% Sales % Short 33% 15%

0%

2%

% REO

% Short Sales

$145,000 $3,100,000 $1,175,000 Sales Price (Max) Sales Price $1,925,000 (Max) $3,100,000 $375,000 $1,175,000

$40,000 $295,000 -$955,000 Sales Price (Min) Sales Price $1,250,000 (Min) $295,000 $375,000 -$955,000

$65 $790 -$129 Sales $/SF (Max) Sales $/SF $919 (Max) $790 $119 -$129

$15 $265 -$332 Sales $/SF (Min) Sales $/SF $597 (Min) $265 $119 -$332

R E S I D E N C E S 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ

9 # 8of Transactions #1of Transactions 9 26 8 63 #37 of Transactions #26of Transactions 63 54 37 57 # 3of Transactions #54of Transactions 57 91 3 99 # 8of Transactions #91of Transactions 99 87 9 # 2of Transactions #7of Transactions 9 25 2 18 #-7 of Transactions #25of Transactions 18 61 -7 46 #-15 of Transactions #61of Transactions 46 56 -15 49 #-7 of Transactions #56of Transactions 49 56 -7 49 #-7 of Transactions #56of Transactions 49 4 -7 17 #13 of Transactions

$420,444 Average $45,444 Sales Price Average $375,000 Sales Price $420,444

$1,366,725 $45,444 $1,486,016 Average $119,291 Sales Price Average $1,366,725 Sales Price $1,486,016 $273,726 $119,291 $445,617 Average $171,891 Sales Price Average $273,726 Sales Price $445,617 $350,307 $171,891 $440,752 Average $90,445 Sales Price Average $350,307 Sales Price $440,752

$1,615,000 $90,445 $2,320,889 Average $705,889 Sales Price Average $1,615,000 Sales Price $2,320,889 $150,382 $705,889 $253,917 Average $103,535 Sales Price Average $150,382 Sales Price $253,917 $231,988 $103,535 $267,515 Average $35,527 Sales Price Average $231,988 Sales Price $267,515 $458,510 $35,527 $655,129 Average $196,619 Sales Price Average $458,510 Sales Price $655,129 $458,510 $196,619 $655,129 $196,619 Average Sales Price Average $458,510 Sales Price $655,129 $509,360 $196,619 $643,903 Average $134,543 Sales Price

$425,000 Median Sales $50,000 Price Median Sales $375,000 Price $425,000 $1,015,000 $50,000 $1,200,000 Median Sales $185,000 Price Median Sales $1,015,000 Price $1,200,000 $255,150 $185,000 $335,000 Median Sales $79,850 Price Median Sales $255,150 Price $335,000 $315,000 $79,850 $375,000 Median Sales $60,000 Price Median Sales $315,000 Price $375,000 $1,610,000 $60,000 $2,000,000 Median Sales $390,000 Price Median Sales $1,610,000 Price $2,000,000 $126,500 $390,000 $182,750 Median Sales $56,250 Price Median Sales $126,500 Price $182,750 $193,000 $56,250 $257,500 Median Sales $64,500 Price Median Sales $193,000 Price $257,500 $334,550 $64,500 $395,000 Median Sales $60,450 Price Median Sales $334,550 Price $395,000 $334,550 $60,450 $395,000 $60,450 Median Sales Price Median Sales $334,550 Price $395,000 $419,900 $60,450 $450,000 Median Sales $30,100 Price

% 4% REO 0% 19% 5% % REO %19% REO 5% 0%

$525,000 Sales Price $150,000 (Max) Sales Price $375,000 (Max) $525,000

$330,000 Sales Price -$45,000 (Min) Sales Price $375,000 (Min) $330,000

$180 Sales $/SF $61 (Max) Sales $/SF $119 (Max) $180

PARK TOWERS

$119 Sales$0$/SF (Min) Sales $/SF $119 (Min) $119

$3,200,000 $637,000 $568 $61 as one $246 $0 the most These$150,000 two towers-$45,000 continue to serve of $4,500,000

$600,000

$958

$264

distinctive and exclusive addresses, home to Sales Price Sales Price highrise Sales $/SF Sales $/SF $1,300,000 -$37,000 $390 $18

(Max) (Min) (Max) (Min) many of the most influential Las Vegas residents. This Sales Price Sales Price Sales $/SF Sales $/SF 15% $3,200,000 $637,000 $568 $246 % Short Sales property doesn’t traditionally have much in (Max) (Min) (Max) (Min) 2% $4,500,000 $600,000 $958 $264the way 48% $700,000 $110,000 $286 $128 $1,300,000but we -$37,000 $390 increase $18 of turnover, did see a slight in activity 21% $3,900,000 $169,000 $470 $162 fromSales thisPrice time last year, a penthouse unit.

Sales Priceincluding Sales $/SF Sales $/SF $3,200,000 $59,000 $184 $34 % Short Sales (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF 48%Sales $700,000 $110,000 $286 $128 % Short (Max) (Min) (Max) (Min) 21% $3,900,000 $169,000 $470 $162 1%

$1,040,000 $3,200,000 $1,307,500 Sales Price $267,500 (Max) Sales Price $1,040,000 (Max) $1,307,500

$200,000 $59,000 $199,000 Sales Price -$1,000 (Min) Sales Price $200,000 (Min) $199,000

$383 $184 $509 Sales $/SF $126 (Max) Sales $/SF $383 (Max) $509

$192 $34 $179 Sales $/SF -$13 (Min) Sales $/SF $192 (Min) $179

$425,000 $5,250,000 $885,000 Sales Price $460,000 (Max) Sales Price $425,000 (Max) $885,000

$59,900 $65,000 $100,000 Sales Price $40,100 (Min) Sales Price $59,900 (Min) $100,000

$192 $208 $283 Sales $/SF $91 (Max) Sales $/SF $192 (Max) $283

$38 $91 $65 Sales $/SF $27 (Min) Sales $/SF $38 (Min) $65

0%

0%

% REO

% Short Sales

% 0% REO 0% 0%

1% Sales % Short 0% 0%

11%

22%

% REO

% Short Sales

% 0% REO 11% 20%

0% Sales % Short 22% 24%

11%

0%

% REO

% Short Sales

%20% REO 11% 33%

24%Sales % Short 0% The four towers of this prestigious compound continue 31% $750,000 $119,000 $259 $136 $460,000 $40,100 $91 $27 to be$495,000 one of the $125,000 premier residences Las Vegas 17% $334 of the $141 Sales Price Sales Priceslightly Sales $/SFthanSales $6,000 $75 $5$/SF Sales volume was less this time last % Short Sales Strip.-$255,000 (Max) (Min) (Max) (Min) but overall is definitely on the rise.

Price pricing Sales Price Sales $/SF Sales $/SF 31%Sales year Sales $750,000 $119,000 $259 $136 % Short (Max) (Min) (Max) (Min) 17% $495,000 $125,000 $334 $141

24% % REO %33% REO 24% 21%

23%

4%

12%

% REO

% Short Sales

%21% REO 4% 21% 4%

23%Sales % Short 12% 23% 12%

% REO

% Short Sales

%21% REO 4% 0%

23%Sales % Short 12% 0%

0%

0%

% REO

% Short Sales

$2,750,000 $267,500 $8,000,000 Sales Price $5,250,000 (Max) Sales Price $2,750,000 (Max) $8,000,000

$785,000 -$1,000 $850,000 Sales Price $65,000 (Min) Sales Price $785,000 (Min) $850,000

$561 $126 $769 Sales $/SF $208 (Max) Sales $/SF $561 (Max) $769

$269 -$13 $360 Sales $/SF $91 (Min) Sales $/SF $269 (Min) $360

TURNBERRY PLACE

$1,526,067 -$255,000 $4,600,000 Sales Price $3,073,933 (Max) Sales Price $1,526,067 (Max) $4,600,000 $1,526,067 $3,073,933 $4,600,000 $3,073,933 Sales Price (Max) Sales Price $1,526,067 (Max) $4,600,000 $860,400 $3,073,933 $2,329,250 Sales Price $1,468,850 (Max)

$175,000 $6,000 $264,000 Sales Price $89,000 (Min) Sales Price $175,000 (Min) $264,000 $175,000 $89,000 $264,000 $89,000 Sales Price (Min) Sales Price $175,000 (Min) $264,000 $358,800 $89,000 $246,000 Sales Price -$112,800 (Min)

$381 $75 $716 Sales $/SF $335 (Max) Sales $/SF $381 (Max) $716 $381 $335 $716 $335 Sales $/SF (Max) Sales $/SF $381 (Max) $716 $488 $335 $529 Sales $/SF $41 (Max)

$96 $5 $152 Sales $/SF $56 (Min) Sales $/SF $96 (Min) $152 $96 $56 $152 $56 Sales $/SF (Min) Sales $/SF $96 (Min) $152 $413 $56 $352 Sales $/SF -$61 (Min)

-16

$93,056

$27,500

# of Transactions

Average Sales Price

Median Sales Price

% REO

% Short Sales

2012

65

$267,276

$245,000

0%

2013 Δ

44 -21

$336,876 $69,600

$237,000 -$8,000

0%

# of Transactions # of 54 Transactions 27 155 -27 102 #-53 of Transactions # 3of Transactions 89 86 53

Average Sales Price Average $160,243 Sales Price $248,061 $203,269 $87,818 $221,735 $18,466 Average Sales Price Average $1,491,667 Sales Price $1,059,143 ($) -$432,524 $181,258

Median Sales Price Median Sales $197,500 Price $224,000 $175,000 $26,500 $190,000 $15,000 Median Sales Price Median Sales $1,612,000 Price ($) $770,000 -$842,000 $165,000

% REO

% Short Sales

2013 Δ

37 # of -16 Transactions

$274,314 Average $93,056 Sales Price

$192,500 Median Sales $27,500 Price

3% % REO

2012

# 1of Transactions 9 8 65

$375,000 Average Sales Price $420,444

$375,000 Median Sales Price $425,000

$45,444 $267,276

$50,000 $245,000

2013 Δ

44 # of -21 Transactions

$336,876 Average $69,600 Sales Price

2012

#26 of Transactions 63 37 54

$1,366,725 Average Sales Price $1,486,016

2013 Δ 2012

Δ

$1,270,000

$7,000

$145

$11

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

29%

$612,000

$150,000

$628

$271

11%

$1,605,000 $993,000

$180,000 $30,000

$925 $297

$337 $66

R E S I D E N C E S 2012 2013 2012 Δ 2013 Δ 2012 2013 Δ 2012

2013 Δ 2012

2013 Δ 2012

2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ

REO 22% 19% 6% 5% % REO 0% % REO 0% 9%

Sales Price Sales Price Sales $/SF Sales $/SF (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF Short Sales 11% $700,000 $89,000 $278 $89 (Max) (Min) (Max) (Min) 15% $845,000 $129,000 $343 $104 22% $545,000 $95,159 $808 $183 $145,000 $40,000 $65 $15the past, With less inventory than they have had in 21% $640,000 $124,900 $549 $224 $95,000 $29,741 -$259 $41 salesSales volume and theSales the averageSales price increase Price is down Sales Price $/SF $/SF % Short Sales (Max) (Min) (Max) (Min) reflects these limitations on inventory. This is still one Sales Price Sales Price Sales $/SF Sales $/SF 0% $1,925,000 $1,250,000 $919 $597 % Short Sales (Max) (Min) highrise (Max) (Min) of the most affordable opportunities 0% $3,100,000 $295,000 $790 $265 on the -$955,000 -$129 -$332 23% $380,000 $113,000 $407 $184 Strip.$1,175,000

ALLURE

16% % Short Sales

$1,650,000 Sales Price $1,270,000 (Max)

$120,000 Sales Price $7,000 (Min)

$552 Sales $/SF $145 (Max)

$195 Sales $/SF $11 (Min)

100% % REO 0% 0%

0% % Short Sales 33% 29%

$375,000 Sales Price (Max) $525,000

$375,000 Sales Price (Min) $330,000

$150,000 $612,000

-$45,000 $150,000

$119 Sales $/SF (Max) $180 $61 $628

$119 Sales $/SF (Min) $119 $0 $271

$237,000 Median Sales -$8,000 Price

0% % REO

11% % Short Sales

$1,605,000 Sales Price $993,000 (Max)

$180,000 Sales Price $30,000 (Min)

$925 Sales $/SF $297 (Max)

$337 Sales $/SF $66 (Min)

4% % REO 0% 22%

15% % Short Sales 2% 11%

$3,200,000 Sales Price (Max) $4,500,000

$119,291 $160,243

$1,015,000 Median Sales Price $1,200,000 $185,000 $197,500

$1,300,000 $700,000

$637,000 Sales Price (Min) $600,000 -$37,000 $89,000

$568 Sales $/SF (Max) $958 $390 $278

$246 Sales $/SF (Min) $264 $18 $89

27 # of -27 Transactions

$248,061 Average $87,818 Sales Price

$224,000 Median Sales $26,500 Price

19% % REO

15% % Short Sales

$845,000 Sales Price $145,000 (Max)

$129,000 Sales Price $40,000 (Min)

$343 Sales $/SF $65 (Max)

$104 Sales $/SF $15 (Min)

#54 of Transactions 57 3 89 #86 of Transactions #91 of Transactions 99

$273,726 Average Sales Price $445,617 $1,491,667 $171,891 $1,059,143 Average -$432,524 Sales Price Average $350,307 Sales Price $440,752

$255,150 Median Sales Price $335,000 $1,612,000 $79,850 $770,000 Median Sales -$842,000 Price Median Sales $315,000 Price $375,000

19% % REO 5% 0% 0%

48% % Short Sales 21% 0% 0%

% REO

% Short Sales

% 0% REO 0% 100%

$700,000 Sales Price (Max) $3,900,000 $1,925,000 $3,200,000 $3,100,000 Sales Price $1,175,000 (Max) Sales Price $1,040,000 (Max) $1,307,500

$110,000 Sales Price (Min) $169,000 $1,250,000 $59,000 $295,000 Sales Price -$955,000 (Min) Sales Price $200,000 (Min) $199,000

$286 Sales $/SF (Max) $470 $919 $184 $790 Sales $/SF -$129 (Max) Sales $/SF $383 (Max) $509

$128 Sales $/SF (Min) $162 $597 $34 $265 Sales $/SF -$332 (Min) Sales $/SF $192 (Min) $179

1% Sales % Short 0% Situated right on$375,000 the Las Vegas Strip, Sky continues 0% $375,000 $119 $119 $267,500 -$1,000 $126 -$13 to be$525,000 one of the most sought after properties.

33% $330,000 $180 highrise$119 Sales Price Sales Price Sales $/SF Sales -$45,000 $61the SLS property $0$/SF now % Short Sales With$150,000 the development (Max) (Min)efforts on (Max) (Min) average sales is$561 on the rise.

Sellers Sales Price Sales PricepriceSales $/SF Sales $/SF are 0% Sales underway, $2,750,000 $785,000 $269 % Short (Max) (Min) (Max) (Min) 22% $8,000,000 $850,000 $769 $360

18 9 # 8of Transactions # 7of Transactions 9 26 2 63 #37 of Transactions #25 of Transactions 18 54 -7 57 # 3of Transactions #61 of Transactions 46 91 -15 99 # 8of Transactions

$375,000 $90,445 $420,444 Average $45,444 Sales Price Average $1,615,000 Sales Price $2,320,889 $1,366,725 $705,889 $1,486,016 Average $119,291 Sales Price Average $150,382 Sales Price $253,917 $273,726 $103,535 $445,617 Average $171,891 Sales Price Average $231,988 Sales Price $267,515 $350,307 $35,527 $440,752 Average $90,445 Sales Price

$375,000 $60,000 $425,000 Median Sales $50,000 Price Median Sales $1,610,000 Price $2,000,000 $1,015,000 $390,000 $1,200,000 Median Sales $185,000 Price Median Sales $126,500 Price $182,750 $255,150 $56,250 $335,000 Median Sales $79,850 Price Median Sales $193,000 Price $257,500 $315,000 $64,500 $375,000 Median Sales $60,000 Price

0% % REO % 0% REO 11% 4%

15%

0%

2%

% REO

% Short Sales

%20% REO 11% 19%

24%Sales % Short 0% 48%

5%

21%

% REO

% Short Sales

%33% REO 24% 0%

31%Sales % Short 17% 1%

0%

0%

% REO

% Short Sales

SKY LAS VEGAS

in a strong position at this time with units not staying $3,200,000 $5,250,000

$637,000 $65,000

Sales Price -$37,000 (Min) Sales Price $59,900 (Min) $100,000

$568 $208 $958 Sales $/SF $390 (Max) Sales $/SF $192 (Max) $283

$246 $91 $264 Sales $/SF $18 (Min) Sales $/SF $38 (Min) $65

Sales Price $1,300,000 (Max) Sales Price $425,000 (Max) $885,000

$1,040,000 -$255,000 $1,307,500 Sales Price $267,500 (Max)

$200,000 $6,000 $199,000 Sales Price -$1,000 (Min)

$383 $75 $509 Sales $/SF $126 (Max)

$192 $5 $179 Sales $/SF -$13 (Min)

on the market for$600,000 long. $4,500,000

$700,000 $460,000 $3,900,000 Sales Price $3,200,000 (Max) Sales Price $750,000 (Max) $495,000

$110,000 $40,100 $169,000 Sales Price $59,000 (Min) Sales Price $119,000 (Min) $125,000

$286 $91 $470 Sales $/SF $184 (Max) Sales $/SF $259 (Max) $334

$128 $27 $162 Sales $/SF $34 (Min) Sales $/SF $136 (Min) $141

2012

65

$267,276

$245,000

0%

29%

$612,000

$150,000

$628

$271

2013 Δ

44 -21

$336,876 $69,600

$237,000 -$8,000

0%

11%

$1,605,000 $993,000

$180,000 $30,000

$925 $297

$337 $66

# of Transactions

Average Sales Price

Median Sales Price

% REO

% Short Sales

Sales Price (Max)

Sales Price (Min)

Sales $/SF (Max)

Sales $/SF (Min)

2012

54

$160,243

$197,500

22%

11%

$700,000

$89,000

$278

$89

2013 Δ

27 # of -27 Transactions

$248,061 Average $87,818 Sales Price

$224,000 Median Sales $26,500 Price

19% REO

15% Short Sales

$845,000 Sales Price $145,000 (Max)

$129,000 Sales Price $40,000 (Min)

$343 Sales $/SF $65 (Max)

$104 Sales $/SF $15 (Min)

2012

155 $203,269 $175,000 # of Average Median Sales Transactions Sales Price Price 102 $221,735 $190,000 3 $1,491,667 $1,612,000 -53 $18,466 $15,000 89 $1,059,143 $770,000 -$432,524 -$842,000 Average # 86 of Median Sales Transactions Sales Price Price ($) # of Average Median Sales ($) 53 $181,258 $165,000 Transactions Sales Price Price 371 $274,314 $192,500 $375,000 $375,000 -16 $93,056 $27,500 9 $420,444 $425,000 8 $45,444 Median $50,000 # of Average Sales Transactions Sales Price Price # of Average Median Sales 65 $267,276 $245,000 Transactions Sales Price Price 44 $336,876 $237,000 26 $1,366,725 $1,015,000 -21 $69,600 -$8,000 63 $1,486,016 $1,200,000 $119,291 Median $185,000 # 37 of Average Sales

R E S I D E N C E S 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ

Transactions Sales Price Price # of Average Median Sales 54 $160,243 $197,500 Transactions Sales Price Price 27 $248,061 $224,000 54 $273,726 $255,150 -27 $87,818 $26,500 57 $445,617 $335,000 3 $171,891 $79,850 # of Average Median Sales Transactions Sales Price Price # of Average Median Sales 3 $1,491,667 $1,612,000 Transactions Sales Price Price 89 $1,059,143 $770,000 91 $350,307 $315,000 86 -$432,524 -$842,000 99 $440,752 $375,000 8 $90,445 $60,000 # of Average Median Sales Transactions Sales Price Price #1of Average Median Sales $375,000 $375,000 Transactions Sales Price Price 9 $420,444 $425,000 7 $1,615,000 $1,610,000 8 $45,444 $50,000 9 $2,320,889 $2,000,000 2 $705,889 Median $390,000 # of Average Sales Transactions Sales Price Price #26of Average Median Sales $1,366,725 $1,015,000 Transactions Sales Price Price 63 $1,486,016 $1,200,000 25 $150,382 $126,500 37 $119,291 $185,000 18 $253,917 $182,750 $103,535 Median $56,250 # -7 of Average Sales Transactions Sales Price Price #54of Average Median Sales $273,726 $255,150 Transactions Sales Price Price 57 $445,617 $335,000 61 $231,988 $193,000 3 $171,891 $79,850 46 $267,515 $257,500 $35,527 Median $64,500 #-15 of Average Sales Transactions Sales Price Price #91of Average Median Sales $350,307 $315,000 Transactions Sales Price Price 99 $440,752 $375,000 56 $458,510 $334,550 8 $90,445 $60,000 49 $655,129 $395,000 $196,619 Median $60,450 # -7 of Average Sales

6% % REO 5% 0% 0% % REO %9% REO 3% 100% 0% % REO %0% REO 0% 4% 0% % REO %22% REO 19% 19% 5% % REO %0% REO 0% 0% 0% % REO 100% % REO 0% 0% 11% % REO %4% REO 0% 20% 11% % REO %19% REO 5% 33% 24% % REO %0% REO 0% 21% 4% % REO

PANORAMA

22% $545,000 $95,159 $808 $183 Sales Price Sales Price Sales $/SF Sales $/SF % Short Sales (Max) (Min) (Max) (Min) 21% $640,000 $124,900 $549 $224 The two towers overlooking the $919 world-class architecture 0% $1,925,000 $1,250,000 $597 $95,000 $29,741 -$259 $41 0% $3,100,000 saw$295,000 $790 $265over the of CityCenter an increase in sales volume $1,175,000 -$955,000 -$129 -$332 Sales Price Sales Price Sales $/SF Sales $/SF % Short Sales same time last year. Sellers are starting to take notice (Max) (Min) (Max) (Min) Sales Price and Sales Priceprovided Sales $/SF Salesinventory, $/SF demand have % Short 23% Sales of the$380,000 $113,000 $407additional $184 (Max) (Min) (Max) (Min) 16% $1,650,000 $120,000 $552 but at a higher price.

The pricing has shown$195 an increase 0% $375,000 $375,000 $119 $119 $1,270,000 $7,000 $145 $11 on average and is$330,000 likely to continue foreseeable 33% $525,000 $180 for the $119 $150,000 -$45,000 Sales Price Sales Price Sales$61 $/SF Sales$0 $/SF % Short Sales future.

(Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF % Short 29% Sales $612,000 $150,000 $628 $271 (Max) (Min) (Max) (Min) 11% $1,605,000 $180,000 $925 $337 15% $3,200,000 $637,000 $568 $246 $993,000 $30,000 $297 $66 2% $4,500,000 $600,000 $958 $264 $1,300,000 -$37,000 $390 Sales Price Sales Price Sales $/SF Sales$18 $/SF % Short Sales (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF % Short 11% Sales $700,000 $89,000 $278 $89 (Max) (Min) (Max) (Min) 15% $845,000 $129,000 $343 $104 48% $700,000 $110,000 $286 $128 $145,000 $40,000 $65 $15 21% $3,900,000 $169,000 $470 $162 $3,200,000 $59,000 $184 Sales Price Sales Price Sales $/SF Sales$34 $/SF % Short Sales (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF % Short 0% Sales $1,925,000 $1,250,000 $919 $597 (Max) (Min) (Max) (Min) 0% $3,100,000 $295,000 $790 $265 1% $1,040,000 $200,000 $383 $192 $1,175,000 -$955,000 -$129 -$332 0% $1,307,500 $199,000 $509 $179 $267,500 -$1,000 $126 -$13 Sales Price Sales Price Sales $/SF Sales $/SF % Short Sales (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF 0% Sales $375,000 $375,000 $119 $119 % Short (Min) (Min) project As an (Max) independent property (Max) from its sister 33% $525,000 $330,000 $180 $119 0% $2,750,000 $785,000 $561 $269 Panorama Towers, The Martin continues to sell its $150,000 -$45,000 $61 $0 22% $8,000,000 $850,000 $769 $360 developer inventory. On the resale side, sales have $5,250,000 $65,000 $208 Sales Price Sales Price Sales $/SF Sales$91 $/SF % Short Sales (Max) (Max)a significant (Min)increase increased over 2012(Min) while showing Sales Price Sales Price Sales $/SF Sales $/SF 15% Sales in average $3,200,000 $637,000 $568 $246 % Short sales price (Max) (Min) (Max) (Min) 2% $4,500,000 $600,000 $958 $264 24% $425,000 $59,900 $192 $38 $1,300,000 -$37,000 $390 $18 0% $885,000 $100,000 $283 $65 $460,000 $40,100 Sales Price Sales Price Sales$91 $/SF Sales$27 $/SF % Short Sales (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF 48% Sales $700,000 $110,000 $286 $128 % Short (Max) (Min) (Max) (Min) 21% $3,900,000 $169,000 $470 $162 31% $750,000 $119,000 $259 $136 $3,200,000 $59,000 $184 $34 17% $495,000 $125,000 $334 $141 -$255,000 $6,000 Sales Price Sales Price Sales$75 $/SF Sales$5 $/SF % Short Sales (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF 1% Sales $1,040,000 $200,000 $383 $192 % Short (Max) (Min) (Max) (Min) 0% $1,307,500 $199,000 $509 $179 23% $1,526,067 $175,000 $381 $96 $267,500 -$1,000 $126 -$13 12% $4,600,000 $264,000 $716 $152 $3,073,933 $89,000 $335 Sales Price Sales Price Sales $/SF Sales$56 $/SF % Short Sales

THE MARTIN

2012 Δ 2013 Δ

155 -53 102 #-53 of

$203,269 $18,466 $221,735 $18,466 Average Sales Price Average ($) $181,258 Sales Price ($) $274,314 $181,258 $93,056 $274,314 $93,056 Average Sales Price Average $267,276 Sales Price $336,876 $267,276 $69,600 $336,876 $69,600 Average Sales Price Average $160,243 Sales Price $248,061 $160,243 $87,818 $248,061 $87,818 Average Sales Price Average $1,491,667 Sales Price $1,059,143 $1,491,667 -$432,524 $1,059,143 -$432,524 Average Sales Price Average $375,000 Sales Price $420,444 $375,000 $45,444 $420,444 $45,444 Average Sales Price Average $1,366,725 Sales Price $1,486,016 $1,366,725 $119,291 $1,486,016 $119,291 Average Sales Price Average $273,726 Sales Price $445,617 $273,726 $171,891 $445,617 $171,891 Average Sales Price Average $350,307 Sales Price $440,752 $350,307 $90,445 $440,752 $90,445 Average Sales Price Average $1,615,000 Sales Price $2,320,889 $1,615,000 $705,889 $2,320,889 $705,889 Average Sales Price Average $150,382 Sales Price $253,917 $150,382 $103,535 $253,917 $103,535 Average

$175,000 $15,000 $190,000 $15,000 Median Sales

6%

22%

5%

21%

% REO

% Short Sales

% 9% REO

% Short 23%Sales

3% 9%

16% 23%

3%

16%

% REO

% Short Sales

% 0% REO 0% 0%

29%Sales % Short 11% 29%

0%

11%

% REO

% Short Sales

%22% REO 19% 22%

11%Sales % Short 15% 11%

19%

15%

% REO

% Short Sales

% 0% REO 0% 0% 0%

0% Sales % Short 0% 0% 0%

% REO

% Short Sales

%100% REO 0% 100%

0% Sales % Short 33% 0%

0%

33%

% REO

% Short Sales

% 4% REO 0% 4%

15%Sales % Short 2% 15%

0%

2%

% REO

% Short Sales

%19% REO 5% 19%

48%Sales % Short 21% 48%

5%

21%

% REO

% Short Sales

% 0% REO 0% 0%

1% Sales % Short 0% 1%

0%

0%

% REO

% Short Sales

% 0% REO 11% 0%

0% Sales % Short 22% 0%

11%

22%

% REO

% Short Sales

%20% REO 11% 20%

24%Sales % Short 0% 24%

11%

0%

% REO

% Short Sales

$545,000 $95,000 $640,000 $95,000 Sales Price

$95,159 $29,741 $124,900 $29,741 Sales Price

$808 -$259 $549 -$259 Sales $/SF

$183 $41 $224 $41 Sales $/SF

R E S I D E N C E S 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ

Transactions # of 53 Transactions 37 53 -16 37 #-16 of Transactions #65 of Transactions 44 65 -21 44 -21 # of Transactions #54 of Transactions 27 54 -27 27 -27 # of Transactions # 3of Transactions 89 3 86 89 #86 of Transactions # 1of Transactions 9 1 8 9 # 8of Transactions #26 of Transactions 63 26 37 63 #37 of Transactions #54 of Transactions 57 54 3 57 # 3of Transactions #91 of Transactions 99 91 8 99 # 8of Transactions # 7of Transactions 9 7 2 9 # 2of Transactions #25 of Transactions 18 25 -7 18 #-7of

Price ($) Median Sales $165,000 Price ($) $192,500 $165,000 $27,500 $192,500 $27,500 Median Sales Price Median Sales $245,000 Price $237,000 $245,000 -$8,000 $237,000 -$8,000 Median Sales Price Median Sales $197,500 Price $224,000 $197,500 $26,500 $224,000 $26,500 Median Sales Price Median Sales $1,612,000 Price $770,000 $1,612,000 -$842,000 $770,000 -$842,000 Median Sales Price Median Sales $375,000 Price $425,000 $375,000 $50,000 $425,000 $50,000 Median Sales Price Median Sales $1,015,000 Price $1,200,000 $1,015,000 $185,000 $1,200,000 $185,000 Median Sales Price Median Sales $255,150 Price $335,000 $255,150 $79,850 $335,000 $79,850 Median Sales Price Median Sales $315,000 Price $375,000 $315,000 $60,000 $375,000 $60,000 Median Sales Price Median Sales $1,610,000 Price $2,000,000 $1,610,000 $390,000 $2,000,000 $390,000 Median Sales Price Median Sales $126,500 Price $182,750 $126,500 $56,250 $182,750 $56,250 Median Sales

(Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $380,000 $113,000 $407 $184 (Max) (Min) (Max) (Min) $1,650,000 $120,000 $552 $195 $380,000 $113,000 $407 $184 $1,270,000 $7,000 $145 $11 $1,650,000 $120,000 $552 $195 $1,270,000 $7,000 $145 $11 Sales Price Sales Price Sales $/SF Sales $/SF (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $612,000 $150,000 $628 $271 (Max) (Min) (Max) (Min) $1,605,000the Wynn $180,000 $925 Overlooking resort Golf Course, the$337 Metropolis $612,000 $150,000 $628 $271 $993,000 $30,000 $297 $66 $180,000 in activity $925 over last$337 saw a$1,605,000 significant increase year with a $993,000 $30,000 $297 $66 Sales Price in Sales Price sales Sales $/SF Sales $/SF sizable increase average price.

(Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $700,000 $89,000 $278 $89 (Max) (Min) (Max) (Min) $845,000 $129,000 $343 $104 $700,000 $89,000 $278 $89 $145,000 $40,000 $65 $15 $845,000 $129,000 $343 $104 $145,000 $40,000 $65 $15 Sales Price Sales Price Sales $/SF Sales $/SF (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $1,925,000 $1,250,000 $919 $597 (Max) (Min) (Max) (Min) $3,100,000 $295,000 $790 $265 $1,925,000 $1,250,000 $919 $597 $1,175,000 -$955,000 -$129 -$332 $3,100,000 $295,000 $790 $265 $1,175,000 -$955,000 -$129 -$332 Sales Price Sales Price Sales $/SF Sales $/SF (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $375,000 $375,000 $119 $119 (Max) (Min) (Max) (Min) $525,000 $330,000 $180 $119 $375,000 $375,000 $119 $119 $150,000 -$45,000 $61 $0 $525,000 $330,000 $180 $119 $150,000 -$45,000 $61 Sales Price Sales Price Sales $/SF Sales$0$/SF (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $3,200,000 $637,000 $568 $246 (Max) (Min) (Max) (Min) $4,500,000 $600,000 $958 $264 $3,200,000 $637,000 $568 $246 $1,300,000 -$37,000 $390 $18 $4,500,000 $600,000 $958 $264 $1,300,000 -$37,000 $390 $18 Sales Price Sales Price Sales $/SF Sales $/SF (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $700,000 $110,000 $286 $128 (Min) (Max) (Min) located These (Max) long-standing Vegas residential towers, $3,900,000 $169,000 $470 $162 $700,000 $110,000 $286 has dropped $128 in sales within the Las Vegas Country Club, $3,200,000 $59,000 $184 $34 $3,900,000 $169,000 $470 $162 volume over the past year while$184 sale prices are up across $3,200,000 $59,000 $34 Sales Price Sales Price Sales $/SF Sales $/SF (Max) Many are (Min) (Max) (Min) the board. looking to these towers as a great Sales Price Sales Price Sales $/SF Sales $/SF $200,000 to the$383 $192 value$1,040,000 and Las Vegas (Min) Strip makes (Max)their location (Min) (Max) $1,307,500 $199,000 $509 $179 $200,000 $192 them$1,040,000 a very attractive option. $383 $267,500 -$1,000 $126 -$13 $1,307,500 $199,000 $509 $179 $267,500 -$1,000 $126 -$13 Sales Price Sales Price Sales $/SF Sales $/SF (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $2,750,000 $785,000 $561 $269 (Max) (Min) (Max) (Min) $8,000,000 $850,000 $769 $360 $2,750,000 $785,000 $561 $269 $5,250,000 $65,000 $208 $91 $8,000,000 $850,000 $769 $360 $5,250,000 $65,000 $208 $91 Sales Price Sales Price Sales $/SF Sales $/SF (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF $425,000 $59,900 $192 $38 (Max) (Min) (Max) (Min) $885,000 $100,000 $283 $65 $425,000 $59,900 $192 $38 $460,000 $40,100 $91 $27 $885,000 $100,000 $283 $65 $460,000 $40,100 $91 $27 Sales Price Sales Price Sales $/SF Sales $/SF

METROPOLIS

REGENCY TOWERS

2012 Δ 2013 Δ

25 37 18 #-7of Transactions

2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ 2012 2013 2012 Δ 2013 Δ

2012 2012 2013 2013 Δ Δ

$150,382 $119,291 $253,917 Average $103,535 Sales Price

20%

24%

11% % REO

0% % Short Sales

$273,726 Median $255,150 #54 of Average Sales Transactions Sales Price Price 57 $445,617 $335,000 61 $231,988 $193,000 3 $171,891 $79,850 46 $267,515 $257,500 # of Average Median Sales -15 $35,527 $64,500 Transactions Sales Price Price

19% % REO 5% 33%

48% % Short Sales 21% 31%

24%

17%

% REO

% Short Sales

$350,307 Median $315,000 #91 of Average Sales Transactions Sales Price Price 99 $440,752 $375,000 56 $458,510 $334,550 8 $90,445 $60,000 49 $655,129 $395,000 #-7of Average Median Sales $196,619 $60,450 Transactions Sales Price Price

0% % REO 0% 21%

1% $1,040,000 $200,000 $383 $192 Sales Price Sales Price Sales $/SF Sales $/SF % Short Sales (Max) (Min) (Max) (Min) 0% $1,307,500 $199,000 $509 $179 These lofts $175,000 are the highlight downtown 23% contemporary $1,526,067 $381 of the-$13 $96 $267,500 -$1,000 $126 residential scene.

With the advent redevelopment 12% $4,600,000 $264,000of the downtown $716 $152 Sales Price Sales Price Sales $/SF Sales $/SF $3,073,933 $89,000 $335 $56 % Short Sales efforts, sponsored

by Tony Hsieh units are in (Max) (Min)of Zappos.com, (Max) these(Min)

# 7of Transactions 9 56 2 49 #-7of Transactions #25 of Transactions 18 4 -7 17 #13of Transactions #61 of Transactions 46 14 -15 12 #-2of Transactions # of 56 Transactions 49 12 -7 4 -8 # of Transactions #56 of Transactions 49 273 -7 183 -90 # of Transactions # of 4 Transactions 17 408 13 499

0% % REO 11% 21% 4%

Average $1,615,000 Sales Price $2,320,889 $458,510 $705,889 $655,129 $196,619 Average Sales Price Average $150,382 Sales Price $253,917 $509,360 $103,535 $643,903 $134,543 Average Sales Price Average $231,988 Sales Price $267,515 $197,579 $35,527 $271,250 $73,671 Average Sales Price Average $458,510 Sales Price $655,129 $235,125 $196,619 $299,475 $64,350 Average Sales Price Average $458,510 Sales Price $655,129 $196,619

$126,500 $185,000 $182,750 Median Sales $56,250 Price

Median Sales $1,610,000 Price $2,000,000 $334,550 $390,000 $395,000 $60,450 Median Sales Price Median Sales $126,500 Price $182,750 $419,900 $56,250 $450,000 $30,100 Median Sales Price Median Sales $193,000 Price $257,500 $180,200 $64,500 $242,500 $62,300 Median Sales Price Median Sales $334,550 Price $395,000 $203,750 $60,450 $203,750 $0 Sales Median Price Median Sales $334,550 Price $395,000 $60,450

$0 $0 Sales Average Median Sales Price Price Average Median Sales $509,360 $419,900 Sales Price Price $643,903 $450,000 $134,543 $30,100

91 $0 $0 # of Average Median Sales Transactions Sales Price Price # of Average Median Sales 14 $197,579 $180,200 Transactions Sales Price Price 681 12 $271,250 $242,500 682 -2 $73,671 $62,300 1 $0 $0 # of Average Median Sales Transactions Sales Price Price

$425,000 $1,300,000 $885,000 Sales Price $460,000 (Max)

$59,900 -$37,000 $100,000 Sales Price $40,100 (Min)

$192 $390 $283 Sales $/SF $91 (Max)

$38 $18 $65 Sales $/SF $27 (Min)

$700,000 Sales Price (Max) $3,900,000

$110,000 Sales Price (Min) $169,000

$286 Sales $/SF (Max) $470 $259 $184

$128 Sales $/SF (Min) $162 $136 $34 $141 Sales$5$/SF (Min)

Downtown

4%

% REO

% REO % 20% REO 11% 0% 0%

% REO % 33% REO 24% 0% 0%

% REO % 21% REO

4% 0% 0%

% REO % 21% REO 4% 5% 3%

% REO % REO 0%

0% 12% 5%

$750,000 $3,200,000 $495,000 Sales Price -$255,000 (Max)

$119,000 $59,000 $125,000 Sales Price $6,000 (Min)

$334 Sales $/SF $75 (Max)

NEWPORT LOFTS

demand and pricing continues to go up.Sales Sales Price Sales Price $/SF Sales $/SF 0% $2,750,000 $785,000 $561 $269 % Short Sales (Max) (Min) (Max) (Min) 22% $8,000,000 $850,000 $769 $360 23% $1,526,067 $175,000 $381 $96 $5,250,000 $65,000 $208 $91 12% $4,600,000 $264,000 $716 $152 $3,073,933 $89,000 $335 $56 Sales Price Sales Price Sales $/SF Sales $/SF % Short Sales (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF 24%Sales $425,000 $59,900 $192 $38 % Short (Max) (Min) (Max) (Min) 0% $885,000 $100,000 $283 $65 0% $860,400 $358,800 $488 $413 $460,000 $40,100 $91 $27 0% $2,329,250 $246,000 $529 $352 $1,468,850 -$112,800 $41 -$61 Sales Price Sales Price Sales $/SF Sales $/SF % Short Sales (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF 31%Sales $750,000 $119,000 $259 $136 % Short (Max) (Min) (Max) (Min) 17% $495,000 $125,000 $334 $141 7% $330,000 $110,000 $200 $104 -$255,000 $6,000 $75 $5 8% $500,000 $142,000 $248 $150 $170,000 $32,000 $48 $46 Sales Price Sales Price Sales $/SF Sales $/SF % Short Sales (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF 23%Sales $1,526,067 $175,000 $381 $96 % Short (Max) (Min) (Max) (Min) 12% $4,600,000 $264,000 $716 $152 50% $625,000 $130,000 $173 $88 $3,073,933 $89,000 $335 $56 0% $345,000 $276,000 $193 $174 -$280,000 $146,000 $20 $86 Sales Price Sales Price Sales $/SF Sales $/SF % Short Sales (Max) (Min) (Max) (Min) Sales Price Sales Price Sales $/SF Sales $/SF 23% $1,526,067 $175,000 $381 $96 % Short The Sales first of our downtown residential lofts(Max) is still a favorite (Max) (Min) (Min) with its 12% $4,600,000 $264,000 $716 $152 24%Deco flair and proximity to the arts district. There has not been Art $3,073,933 $89,000 $335 $56 17% much in the way of inventory $0 available as $0 of late, but there is still Sales$0 Price Sales Price Sales $/SF Sales$0$/SF % Short Sales (Min) (Max) (Min) demand as they (Max) become available.

Sales Price Sales Price Sales $/SF Sales $/SF % Short Sales 0% $860,400 $358,800 $488 $413 (Max) (Min) (Max) (Min) 0% $2,329,250 $246,000 $529 $352 20% $1,468,850 -$112,800 $41 -$61 7%

SOHO LOFTS

% REO

% Short Sales

% REO 0%

% Short 7%Sales

9% 0% 4%

22% 8% 10%

% REO

% Short Sales

$0 Sales Price (Max) Sales Price $330,000 (Max) $500,000 $170,000 $0 Sales Price (Max)

$0 Sales Price (Min) Sales Price $110,000 (Min) $142,000 $32,000 $0 Sales Price (Min)

$0 Sales $/SF (Max) Sales $/SF $200 (Max)

$0 Sales $/SF (Min) Sales $/SF $104 (Min)

$248 $48 $0 Sales $/SF (Max)

$150 $46 $0 Sales $/SF (Min)

2012

12

$235,125

$203,750

0%

50%

$625,000

$130,000

$173

$88

2013 Δ

4 -8

$315,950 $80,825

$299,475 $95,725

0%

0%

$345,000 -$280,000

$276,000 $146,000

$193 $20

$174 $86

# of

Average

Median Sales

Sales Price

Sales Price

Sales $/SF

Sales $/SF

2012 2013 Δ

2012 2013 Δ

2012 2013 Δ

# of Average Transactions Sales Price 25 $150,382 18 $253,917 -7

46 -15

2012

2013 2013 Δ

Δ

$267,515 $35,527

Median Sales Price $193,000 $257,500 $64,500

# of Average Transactions Sales Price 56 $458,510 49 $655,129 -7 $196,619 Transactions 155 56 102 49 -53 -7

Median Sales Price $334,550 $395,000 $60,450

Average Median Sales Average Median Sales Price Price

Sales Price Sales Price $175,000 $458,510 $334,550 $221,735 $190,000 $655,129 $395,000 $18,466 $15,000 $196,619 $60,450 $203,269

Average Median Sales Average Median Sales Price Price ($) Transactions Sales ($) Price Sales Price 53 $181,258 $165,000

# of # of Transactions 2012

2012 2013 2013 Δ Δ

4 37 102 -16 98

# of # of Transactions 2012

2012 2013 2013 Δ Δ 2012 2013 2012 Δ 2013

Δ 2012 2013 2012 Δ

2013 Δ

2012 2013 2012 Δ

2013 Δ

2012 2013 2012 Δ

2013 Δ

Transactions 65 4414 -2112 -2

# of Transactions # of

54 Transactions 2712 -274 # of-8

$509,360 $274,314 $490,495 $93,056 -$18,865

$419,900 $192,500 $424,478 $27,500 $4,578

Average Median Sales Average Median Sales Price Price

Sales Price $245,000 Sales Price $267,276 $197,579 $336,876 $271,250 $69,600

$180,200 $237,000 $242,500 -$8,000

$73,671

$62,300

Average Median Sales Sales Price Price Average Median

$160,243 Sales Price $197,500 Sales Price $248,061 $235,125 $87,818 $315,950

$224,000 $203,750 $26,500 $299,475

$80,825 Median $95,725 Average Sales Transactions Sales Price Price Average $1,612,000 Median 3# of $1,491,667 Transactions Sales Price Sales Price 89 $1,059,143 $770,000 273 86 -$432,524 -$842,000 183 # of -90

Transactions 1# of

Transactions 9 8408 584 # of 176

Transactions

Average $0 Sales Price

Average $375,000

% REO $0 $0

$56,250

# of Average Transactions Sales Price 61 $231,988

# of # of Transactions 2012

$103,535

Median Sales Price $126,500 $182,750

Median$0 Sales Price

Median $375,000

Sales Price $425,000 Sales Price $420,444 $45,444

$50,000

Average $0 Sales Price

Median$0 Sales Price

26 $1,366,725 # of Average $1,015,000 Median Transactions Sales Price Sales Price 63 $1,486,016 $1,200,000 681 37 $119,291 $185,000 767 # of Average Median Sales 86 $0 $0

% REO $0 $0

% Short Sales $0 $0

Sales Price (Max) $425,000 $885,000

Sales Price (Min) $59,900 $100,000

Sales $/SF (Max) $192 $283

Sales $/SF (Min) $38 $65

$460,000

$40,100

$91

$27

% Short Sales $0

Sales Price (Max) $750,000

Sales Price (Min) $119,000

Sales $/SF (Max) $259

Sales $/SF (Min) $136

$0

$495,000 -$255,000

$125,000 $6,000

$334 $75

$141 $5

CityCenter VEER TOWERS

The iconic architecture and contemporary design of the Veer towers sets them apart from all other buildings on the Las Vegas

% REO $0 $0 REO

% Short Sales Price Sales Price Sales $/SF Sales $/SF Strip. At the end of 2012 the remaining inventory was sold in total Sales (Max) (Min) (Max) (Min) and is now being released and sales have been very brisk $0 $1,526,067 $175,000 $381 $96 as the $0 pricing $4,600,000 $152location. initial has been very$264,000 appealing for$716 this incredible $3,073,933 $89,000 $335 $56 Sales Price

Short Sales % Short

Sales Price (Max) (Max) $545,000 $1,526,067 $640,000 $4,600,000 $95,000 $3,073,933

%% Short Sales Short

$0 3% $0

Sales 23% $0 16% $0

Sales Price (Max) (Max) $380,000 $860,400 $1,650,000 $1,630,000 $1,270,000 $769,600

% REO

% Short Sales

% Short Sales 29% $0 11% $0

Sales Price (Max) (Max) $612,000 $330,000 $1,605,000 $500,000 $993,000

% Short Sales

Sales Price (Max) Sales Price

% REO 6%

$0 $0

5%

% REO

% REO 9%

% REO 0%

$0 0% $0

Sales 22% $0 21% $0

Sales Price

Sales Price

% REO 22%

19% $0

$0 % REO

%0% REO 0%

$0 $0

% REO 100% % REO 0%

$0 $0

% REO 4%

% REO 0%

$0 $0

% REO

Sales Price

Sales Price (Min) (Min) $113,000 $358,800 $120,000 $201,388 $7,000 -$157,412 Sales Price

Sales Price (Min) (Min) $150,000 $110,000 $180,000 $142,000 $30,000

Sales $/SF

Sales $/SF (Max) (Max) $808 $381 $549 $716 -$259 $335 Sales $/SF

Sales $/SF (Max) (Max) $407 $488 $552 $923 $145 $435 Sales $/SF

Sales $/SF (Max) (Max) $628 $200 $925 $248 $297

Sales $/SF

Sales $/SF (Min) (Min) $183 $96 $224 $152 $41 $56 Sales $/SF

Sales $/SF (Min) (Min) $184 $413 $195 $270 $11 -$143 Sales $/SF

Sales $/SF (Min) (Min) $271 $104 $337 $150 $66

Summerlin $170,000

% REO

Sales Price

Sales Price (Min) (Min) $95,159 $175,000 $124,900 $264,000 $29,741 $89,000

% Short 11% Sales 15% $1 $0

$700,000 (Max)

$32,000

Sales Price (Min) Sales Price $89,000 (Min)

$48

Sales $/SF (Max) Sales $/SF

$46

Sales $/SF (Min) Sales $/SF

$278 $89 (Max) (Min) $845,000 $129,000 $343 $104 $625,000 $130,000 $173 $88 $145,000 $40,000 $65 $15 $345,000 $276,000 $193 $174 -$280,000 $146,000 $20$/SFOneSales $86$/SF Dedicated to the most Queensridge Sales Pricediscriminating Sales Price owners, Sales

ONE QUEENSRIDGE

% Short Sales

(Max)

(Min)

(Max)

(Min)

serves asSales onePrice of theSales veryPrice finestSales luxury in Las %Place Short $/SFresidences Sales $/SF 0% $1,925,000 $1,250,000 $919 $597 Sales With unparalleled (Max) (Min) (Max) (Min) Vegas. amenities finishes, this lifestyle is 0% $3,100,000 $295,000 and $790 $265 $0 $1,175,000 appreciate -$955,000the finer -$129 -$332The last for those who genuinely things in life. $0 of the developer units and sales have Sales Sales$0available Price Sales Sales $/SF $0Priceare now $0$/SF $0increased % Short Sales (Max) (Max) of current (Min)market dramatically. Now is the time(Min) to take advantage

% Short Sales Price Sales Price Sales $/SF 0% $375,000 $375,000 $119 pricing for this one-of-a-kind residence. (Max) Sales (Max) (Min) 33% $525,000 $330,000 $180 $0 $150,000 -$45,000 $61 $0 Sales$0Price Sales$0Price Sales $0$/SF % Short Sales

Sales $/SF $119 (Min) $119 $0

(Max)

(Min)

(Max)

Sales $0$/SF (Min)

% 15% Short Sales 2% $0 $0

$3,200,000 Sales Price (Max) $4,500,000

$637,000 Sales Price (Min) $600,000

$568 Sales $/SF (Max) $958

$246 Sales $/SF (Min) $264

$1,300,000

-$37,000

$390

$18

% Short Sales

Sales Price

$0

Sales Price

Sales $/SF

Sales $/SF

$0

$0

$0

Isaac Moore 702.306.5866 • VegasLuxurySkyRise.com

®,™ and SM are licensed trademarks to Sotheby’s International Realty Affiliates, Inc. An Equal Opportunity Company.

Equal Housing Opportunity.

Each Office Is Independently Owned And Operated, Except Offices Owned And Operated By NRT Incorporated. If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers.

We are happy to work with them and cooperate fully. * All information from sources deemed to be reliable although not warranted or guaranteed by Isaac Moore or Sotheby’s International Realty®