The Cosmopolitan beats the Odds

When it comes to beating the odds, the Cosmopolitan is at the top of the list. Developer Ian Bruce Eichner defaulted on its $760 million dollar construction loan and the project went into limbo. The lender Deutsche Bank began foreclosure proceedings in January of last year. Things were looking pretty grim for the future of the project.

However, the Cosmo's luck changed in September when Nevada Property One, LLC (an affiliate of Deutsche Bank) bought the property out of foreclosure for a cool one billion dollars. The original contractor Perini Corp has been retained to complete the project.

The Cosmopolitan is a condo-hotel that will feature 3,000 condo and hotel rooms upon completion. Sources say that the project currently has 1,800 units under contract.

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What price range for the

What price range for the condos?

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