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  #3621  
Old Posted Jan 23, 2008, 5:14 AM
fishordie fishordie is offline
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Originally Posted by solstadwest View Post
Is anyone Bailing on their Cosmo Units?
No one is bailing. When the project gets built we owners are going to be very very happy.... Unless you signed up with the management company... It is going to be stunning. That property is waaay to valuable to be stopped. Be it Eichner or someone else, the ease of use due to the smaller size of the property and the immediate access from the street, the partnering with Wolfgang Puck for room service and for this site the shear beauty of it should make this project attractive for some investors. Add the central location and a ton of other amenities this is a winner for we owners.

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  #3622  
Old Posted Jan 24, 2008, 6:25 AM
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Originally Posted by DracoCaifan View Post
I think we all are waiting for pics of the palazzo grand opening!!! Where are they?
I already posted photos from the soft opening over New Year's, and I went back last night after the grand opening, and nothing was different. The only thing different is that some of the hotel rooms are open now and you can walk through the mall. Still most of the restaurants aren't open and most of the shops in the mall aren't open. The mall is a bunch of hallways. There are some new photos over at ratevegas.com. This time I parked in the underground parking and it is a lot better than I thought it would be, the escalator takes you straight to the casino, so you don't have to walk a mile like a lot of these places.
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  #3623  
Old Posted Jan 24, 2008, 9:35 PM
ScottG ScottG is offline
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why would anyone bail out on cosmo? it didnt even suffer construction delays - the financin was settle within days - te developers expected it to fall with their current envestors.



union park looks promiseing. fountainbleau looks goods. i work at the firm that is doin FB (they also did paris trump grand chatteau treasure island,) let me just say the final product will definitly be something out of miami. what im interested in seeing is how the FB will manage with the large gap from where the 'action' is (at least for now).....whats the deal? diagrams have been forgotten about? i love those things dispite my lack of involvment.
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  #3624  
Old Posted Jan 25, 2008, 1:32 AM
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The obvious reason Eichner said he expected the default notice is because he can't make the payments on the construction loan.

The separate construction financing deal that Perini struck with Deutsche Bank is only a month to month deal because legally Deutsche has to wait three months before starting actual foreclosure proceedings. If Eichner doesn't get his act together there might be some really bad news in two and a half months.

The money from condo buyers should still be in escrow and should be safe if they want to just ride it out and wait for a white knight to take over the project when they can pick it up for a discount after Eichner goes bankrupt.

Maybe Silas was right a year ago.

Quote:
Originally Posted by Silas View Post
Solstadt, re: Cosmo:

I don't have any inside infor or anything - but my gut tells me that this Cosmo project is still somewhat in doubt. ...
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  #3625  
Old Posted Jan 25, 2008, 1:56 AM
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DracoCaifan DracoCaifan is offline
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Originally Posted by mdiederi View Post
I already posted photos from the soft opening over New Year's, and I went back last night after the grand opening, and nothing was different. The only thing different is that some of the hotel rooms are open now and you can walk through the mall. Still most of the restaurants aren't open and most of the shops in the mall aren't open. The mall is a bunch of hallways. There are some new photos over at ratevegas.com. This time I parked in the underground parking and it is a lot better than I thought it would be, the escalator takes you straight to the casino, so you don't have to walk a mile like a lot of these places.

Thanks for the info... So in reality there is not much new to see... I was hoping for the mall to be open.... but, as you just told me... It isn't... Well, I'm going to have to wait then......
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  #3626  
Old Posted Jan 25, 2008, 3:57 AM
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The Barney's store is open, which is the biggest store there, and there were a handful of small boutique shops open, but I'd say about 70% of the stores are not open yet. But you can walk around the hallways of the mall, which is kind of strange with so much unfinished.
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  #3627  
Old Posted Jan 25, 2008, 7:34 PM
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I'm sure you guys know this (I'm sure) but the Monte Carlo is on fire.
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  #3628  
Old Posted Jan 25, 2008, 7:39 PM
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Yeah watching it now. Looks like the facade is burning, almost as if was built out of flammable material.
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  #3629  
Old Posted Jan 25, 2008, 8:24 PM
GeorgeLV GeorgeLV is offline
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Quote:
Originally Posted by ThreeHundred View Post
I'm sure you guys know this (I'm sure) but the Monte Carlo is on fire.
FYI, the local news has had to devote an inordinate amount of time to debunking various fictional reports on Fox News which falsely reported that workers were trapped and several other hotels were evacuated.
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  #3630  
Old Posted Jan 25, 2008, 8:32 PM
ScottG ScottG is offline
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"People have reportedly been evacuated from the Monte Carlo, and new guests were being turned away. The Bellagio and New York-New York casinos were prepared to evacuate if necessary." (from fox news)


i know people who work in NYNY and they are not told of any evac plans....


there would be no need to evacuate bellagio or NYNY, the hotels are hundreds of feet apart, unless monte carlo completely blew up, there would be no danger to its neighbors.

the fire is out now, but the entire top portion of the tower (where the sign rests) is gone along the south end.... it doesnt look like any rooms where in the blaze, maybe the ceilings, but you can see that the windows are right below the damage....falling debri caught 2 seperate parts of the tower on fire a few floors down, but were put out.......




i drove on trop passes the strip at 1145 from school to work, the strip was closed with dozens of firetrucks infront of the hotel, very eerie, there were still pedestrians, but the road was empty. people were parked along the I-15 (freeway) to watch and take pictures.
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  #3631  
Old Posted Jan 25, 2008, 9:22 PM
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No, Monte Carlo!
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  #3632  
Old Posted Jan 25, 2008, 9:35 PM
drobar drobar is offline
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I was able to get some pics from the Hacienda overpass.....




[IMG][/IMG]
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  #3633  
Old Posted Jan 25, 2008, 9:58 PM
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they are saying the fire started probably in a kitchen, very lucky the whole thing didn't go up in flames, damage is really only minimal from what it looked like would happen at 11.15am local time

Congrats to the Las vegas fire department for a great job
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  #3634  
Old Posted Jan 25, 2008, 10:24 PM
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I can't see your photos drobar.

I got some shots of it too.










Last edited by mdiederi; Jan 25, 2008 at 10:35 PM.
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  #3635  
Old Posted Jan 25, 2008, 10:28 PM
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Hans Gruber Hans Gruber is offline
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Rumor has it welders were on the Monte Carlo roof doing work right before the fire. This coming directly from CNN reporters. Fox News had by far the best coverage. Kudos to the Vegad FD for doing a nice job putting out the blaze. I've always worried or wondered what would happen in a Vegas Fire since the old MGM now Bally's fire of 1980.

The new sprinkler systems worked quite well and fire crews did a nice job.
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  #3636  
Old Posted Jan 25, 2008, 10:33 PM
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From what I've heard on the radio with the interview with the fire chief, it was mostly the facade that was burning. Only a few indoor sprinklers came on because there wasn't much heat or smoke inside. The fire fighters had to hang out the window to spray the water. Seems that EIFS crap isn't very fire resistant. I'm glad more or the new buildings are glass clad.
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  #3637  
Old Posted Jan 25, 2008, 10:43 PM
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its seems the fire was confined to the external facade of the building and no rooms were damaged according to the fire chief steve smith.
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  #3638  
Old Posted Jan 25, 2008, 11:33 PM
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So based on what you guys have heard, the CNN report of welders on the Monte Carlo roof seem valid considering the fire was on the exterior of the building.

Has LVFD ever considering helicoptering in firefighters to the roofs of potential future hotel fires? They could have base jumping parachutes if the heat gets too hot. They could also helicopter in fire hoses and set a new building code to include rooftop fire hydrants or water supplies.

This may sound a little crazy, but there still is no really good way to fight these highrise fires except the current sprinkler systems and the updated fire code. Glad to hear nobody was hurt.
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  #3639  
Old Posted Jan 25, 2008, 11:39 PM
neworleans neworleans is offline
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im glad there wasn't too much damage. the monte carlo is one of my favorites!!!
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  #3640  
Old Posted Jan 25, 2008, 11:40 PM
gmcclenon gmcclenon is offline
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Quote:
Originally Posted by WonderlandPark View Post
Yeah watching it now. Looks like the facade is burning, almost as if was built out of flammable material.
No kidding. Who would have guessed foam was flammable? I watched it on CNBC and it looked difficult to put out for being such a small fire. Imagine if that foam caught fire at the bottom.
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