Meridian Condos Las Vegas

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The Meridian Condos/Meridian Private Residences located at 250 E. Flamingo (Flamingo & Koval Lane NE corner) are extremely popular for three main reasons:

  1. They are just one block east of the Strip
  2. They deliver resort-style landscaping, atmosphere and facilities
  3. They are cheaper than luxury high-rise condos

This popularity of the Meridian Condos Las Vegas is despite of the development’s legal woes, and in fact it is these legal issues that are contributing factors in keeping prices depressed. Meridian started out life as an apartment complex, was converted to condos, and then converted into a hotel. This hotel operation was declared illegal by Clark County and the development reverted to a condo.

Location

The Meridian Private Residences has 16 acres of private gated grounds, that have a Mediterranean-style atmosphere. Its courtyards, fountains and pools are genuinely sophisticated and this is no kitsch Caesar’s Palace. On site there is a Resident Service Center which has DVD rental, cleaning, mail services, and food. There is also a concierge service, conference rooms, movie theatre room, clubhouse and a business center. All residents benefit from gated underground parking, and there is outside parking for guests.

Layout

There are five floor plans available.

  • Athens, Studio, 530 Sq Ft
  • Barcelona, One Bedroom, 692 Sq Ft
  • Calais, One Bedroom, 757 Sq Ft
  • Florence, One Bedroom, 760 Sq Ft
  • Genoa, Two Bedroom, 1,005 Sq Ft

Background to the Meridian’s Legal Issues
Owners have filed a number of complaints with the Nevada Real Estate Commission about the development, including that the Meridian violated state laws on how homeowner associations are to run. However, the property’s dramas started when it was found to have been operating as an illegal hotel.

American Invsco, a Chicago-based company, converted the Meridian from apartments to condos in 2005. It then went on to sell individual units to individuals and operate it as a hotel. Clark County shut down the unauthorized hotel operation in July 2008 and it was subsequently fined $568,000 for back taxes.

Meridian employee Rebekah DeSmet was taken to court and faced two misdemeanor charges for zoning and licensing infractions. The Meridian owners contested that Clark County knew that it had been operating as a hotel, and that this was evidenced in November 2007 when a “renewal” of a business license to operate transient lodging at the Meridian was issued. However, the county stated that this was an error in its records and that a renewal could not be issued since no active license was issued in the first place.

The hotel shutdown saw the end of the rental income that some owners claim they had been promised at the time of purchase. With most owners counting on the rental income to make mortgage payments many units went into foreclosure. The owners made a number of complaints, from the fact that they had been unwittingly underinsured and not covered for the liabilities that a hotel is exposed to, right up to mortgage fraud. The plaintiffs asked the court to rescind their purchase contracts, and award punitive and other damages.

The legal fight has two sides. Plaintiff attorney Michael Mushkin stated, “If (defendants) had dealt straight up, and it was a bad investment — then, buyer beware. But orchestrated fraud is simply wrong.” Whereas attorney Ken Morgan (defending Koval Flamingo LLC, a company that was formed to purchase the Meridian to convert it from apartments to condos) stated, “The allegations of the complaint are largely false. And the conclusions that the plaintiffs’ counsel would have anyone draw from an inaccurate set of statements are largely invalid.”

The fraud allegation stems from the fact that some plaintiffs claim that the seller, Koval Flamingo LLC, led them to secure residential mortgages suitable for a primary residence, rather that a higher rate investment property loan. This is used to substantiate the plaintiff’s claims that an investment opportunity was disguised as a residential community.

Meridian Private Residences Summary

Kitchens:

  • Granite counters
  • Pantry
  • Breakfast bar
  • Microwave
  • Dishwasher
  • Refrigerator

Room features:

  • Great views from some rooms
  • There are vaulted ceilings in some units
  • Mirrored closet doors
  • Tiled floors
  • Extra storage available
  • Cable
  • Private balcony or a private patio
  • Walk-in closets
  • Roommate split floor plan in some units
  • Some paid utilities
  • Ceilings reaching nine feet
  • Washing facilities

Community Features:

  • Gated community
  • Mature Mediterranean landscaping
  • Elevator
  • Business center
  • Conference center
  • Concierge
  • Maintenance available on call

Recreational Facilities:

  • Swimming pool
  • Spa
  • Modern Fitness Center
  • Clubhouse
  • Racquetball court
  • Tennis court

 

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