Groundbreaking Took Place in May 2023

At the time, 370 unit sales had been finalized. The purchase would include artwork by Pablo Picasso and Salvador Dalí. After months without a buyer, Maloof decided to include a Lamborghini Huracán as part of the purchase. Maloof put his penthouse on the market again in 2019, with a $15 million listing price. Phil Maloof owned a Palms Place penthouse, which he put up for sale in 2014, at a cost of $38 million. The Muleseum, a 1,300 sq ft (120 m2) suite dedicated to the Moscow mule cocktail, was debuted in March 2018. The suite included a bar with several variations of the drink available.

Servers would wear pajamas during brunch, and customers had the option to do so as well. The restaurant became a popular dining spot for celebrities. During the first month, the pool parties featured $7,000 worth of rubber ducks. Scenes would later be shot at the restaurant for The Real Housewives of Beverly Hills and La La’s Full Court Life. In July 2008, Palms Place introduced a weekly, evening pool party event that would start off with cocktails in the Simon restaurant before moving to the pool deck for DJ music and swimming.

Smith, Hubble (May 6, 2005). “Palms condo project selling fast”. Knightly, Arnold M. (October 14, 2008). “Credit squeeze hits high-rises”. Knightly, Arnold M. (February 23, 2008). “Move-in day almost here for Palms Place”. Smith, Hubble (May 6, 2006). “Soaring Higher – Palms Place project costs have jumped”. May 5, 2006. Retrieved March 1, 2020 – via NewsLibrary. Curtis, Anthony (August 19, 2007). “1 Strip project digs to the bottom, another tops out”. Las Vegas Business Press. Abowitz, Richard (June 8, 2008). “Glitzing up a market downturn”.

The property opened during the Great Recession. In May 2009, the Palms began offering financial assistance to approximately 150 buyers who had already made down payments but were unable to get full financing to close on their purchases. Because of poor economic conditions, buyers had difficulty obtaining the necessary credit to finalize their purchases. As of October 2008, sales had only been finalized for 342 units, or 57 percent of the 599 units.

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