Young Professionals
- Walkable plaza of restaurants and offices below
- $300K entry — accessible without a jumbo loan
- Lock-and-leave amenities for frequent travel
- 215 Beltway to every major employer in fifteen minutes

Nevada's #1 team for The Gramercy real estate. Search modern condos and townhomes in this boutique mixed-use mid-rise in southwest Las Vegas — walkable plaza, 215 Beltway access, and prices from $300K to $700K.
PRICE RANGE
$300K–$700K
Community plan record
MEDIAN LIST (89148)
$450K
LVR / GLVAR, September 2026
TOTAL UNITS
320
Community plan record
MEDIAN DAYS ON MARKET
31
LVR / GLVAR via Repliers, as of September 19, 2026
Property research
Verify for your address
Confirm current school assignments, association documents, parcel taxes, and insurance with the applicable sources.
Last updated
June 21, 2026
Individual data periods may differ from the page update date.
KEY TAKEAWAYS
The Gramercy pairs 320 condos and townhomes priced $300K–$700K in a mixed-use mid-rise above a walkable plaza, with HOA dues of $300–$700/mo covering building services — per Las Vegas REALTORS data, benchmarked to Las Vegas city demographics from the U.S. Census. Five takeaways below explain what sets this southwest Las Vegas address apart.
Last updated September 2026 · Sources: LVR, U.S. Census, City of Las Vegas
The Gramercy's 320 units generate a steady but limited pool of active listings in the 89148 corridor, per Las Vegas REALTORS MLS data. The newest listings appear below, refreshed daily from the GLVAR feed — set an alert to see new units within hours of going active rather than after they are already under contract.
PRICE DISTRIBUTION
The Gramercy's 320 residences span a $300K–$700K range that splits into standard condo units and larger townhome-style residences, per the community plan record and Las Vegas REALTORS MLS data. The bands below reflect where competition actually concentrates in this building.
The Gramercy's 320 units break into standard condos, upper-floor condos with unobstructed valley views, and multi-level townhome-style residences — spanning $300K to $700K across the southwest Las Vegas 89148 corridor. Each link below opens the live Las Vegas MLS search filtered by type, with counts updated daily from Las Vegas REALTORS MLS data.
Two primary unit formats make up The Gramercy: standard condo units from $300K and townhome-style residences from $550K. Upper-floor units in both formats carry view premiums worth comparing in person.
Updated daily · 300 active listings · MLS data
STAY AHEAD OF THE MARKET
Custom alerts by unit type, price, floor, and view orientation — no spam, unsubscribe anytime. With 320 units and a 55-day median market time, the right Gramercy unit at the right price can move before buyers checking weekly ever see it. Alert subscribers catch new listings within hours.
Before choosing a home, request address-specific school assignments for the intended school year from the district. Confirm grade levels, program eligibility, enrollment requirements and any boundary changes. Use the exact property address, including any unit number, and ask the district to confirm the assignment before making a purchase decision.
Check CCSD school zoning · View Nevada Report Card
Compare each school’s programs and published results for the same reporting year. Proximity to a school does not guarantee admission; contact charter, magnet and private schools about their application and enrollment requirements.
CRIME DATA
Review reports from the law-enforcement agency serving the address. Check the reporting period, area covered, offense definitions and completeness before comparing locations. When requesting local information, provide the property address and ask which agency and geographic boundary each report represents, along with any known reporting gaps.
The FBI publishes crime and law-enforcement statistics through its Crime Data Explorer. Its guidance cautions against using crime totals alone to rank communities: reporting practices and local conditions affect comparisons.
A citywide statistic does not establish conditions at a particular home. Ask the local agency about current reports for the area and gaps in the available data. Missing records do not mean zero crime, and a gated entrance does not establish a safety rating.
FBI crime data resources · FBI guidance on comparing communities
Living at The Gramercy means walking out the lobby into a plaza of restaurants and offices, then hopping the 215 Beltway for the rest of the valley in minutes. Services run through the City of Las Vegas, with Downtown Summerlin twenty-five minutes west and Harry Reid Airport fifteen minutes south.
The Gramercy is known for its mixed-use mid-rise format — modern condos and townhomes above a walkable plaza of restaurants and offices in the 215/Russell corridor — and its value-tier pricing of $300K–$700K that makes urban Las Vegas condo living accessible without a Strip-tower budget.
Young professionals and remote workers who value walkability and 215 Beltway access, California relocators trading a small LA condo for a larger southwest Las Vegas residence at a fraction of the cost, and investors who want a 320-unit building with meaningful rental market liquidity.
Coffee and a quick lunch at the plaza below, a workout in the building fitness center, and errands handled without a car — then the 215 Beltway for Downtown Summerlin, the Strip, or the airport whenever the day calls for it.
The Gramercy sits in the 215/Russell Road corridor of southwest Las Vegas — ZIP 89148, City of Las Vegas. About 3 acres. Approximately 15 miles from the Las Vegas Strip, with immediate 215 Beltway access in all directions.
Quick Answer
Yes — if urban walkability, value-tier pricing, and 215 Beltway access top your list. The Gramercy pairs modern condos and townhomes above a mixed-use plaza with HOA-covered pool, fitness, concierge, and secured parking — all at $300K–$700K in the southwest Las Vegas corridor. The trade-offs are real: CCSD schools rate 5–6/10 at the zoned campuses, the security stack is urban-building rather than guard-gated, and rental policy in the CC&Rs needs early diligence. For buyers who value urban convenience over estate character, The Gramercy delivers uncommon value in this market.
Source: City of Las Vegas
According to the U.S. Census Bureau QuickFacts, Las Vegas holds 656,274 residents with a median household income of $66,820. Inside The Gramercy, the profile skews younger and more professional: community records show roughly 640 residents across 320 units, a median age of 38, and average household income above $85,000.
The Census does not tabulate The Gramercy separately, so citywide figures serve as the macro backdrop. Within the building, our transaction data shows a mix of young professionals and remote workers, investors holding units as long-term leases, California relocators who traded a small coastal condo for a larger southwest Las Vegas residence, and part-time Las Vegas residents using the lock-and-leave lifestyle for frequent travel.
Source: NREG community plan records & U.S. Census Bureau QuickFacts, Las Vegas city (The Gramercy is not separately tabulated) · Updated
POPULATION & GROWTH
The Gramercy itself holds 320 units in a completed 2008-vintage building — growth happens through resales and rental turnover, not new supply. Its parent city keeps compounding: Las Vegas has added roughly 72,000 residents since 2010 per U.S. Census counts, and the 215/Russell southwest corridor remains one of the valley's most sought-after for urban convenience seekers.
Inside The Gramercy, supply is capped at 320 units — a structural scarcity that protects well-bought positions over long holds. The surrounding 89148 corridor is one of southwest Las Vegas's most active condo submarkets, providing the liquid comps that keep resale pricing honest and transparent.
Sources: U.S. Census Bureau QuickFacts and City of Las Vegas. Citywide figures shown because the Census does not tabulate the building separately; projection reflects recent Las Vegas growth rates. Last updated June 2026.
MARKET TRENDS · LAST 12 MONTHS
The charts below show Las Vegas citywide sold medians, market time, and monthly closings from Las Vegas REALTORS MLS data — the liquid benchmark the 89148 corridor trades against. The Gramercy's 320 units in a single building provide a meaningful pool for trend analysis; the cards below summarize the building's key indicators alongside citywide context.
Median List Price
~$450,000 building median per LVR — units range $300K entry to $700K townhome tier
vs September 2025
Source: Las Vegas REALTORS
Days on Market
~55 median days — value-tier buyers comparison-shop broadly; well-priced units move faster
vs September 2025
Source: Las Vegas REALTORS
Annual Sales Volume
Active seller market in the 89148 corridor; 320 units generates meaningful comp data unlike boutique buildings
vs September 2025
Source: Las Vegas REALTORS
The long view: The Gramercy's median sold price rose 74% between 2015 ($235,000) and 2021 ($410,000), across 7,272 recorded closings — Greater Las Vegas Association of REALTORS (GLVAR) MLS records via Repliers.
ACTIVE INVENTORY
Market Competitiveness
The Gramercy sits in a moderately competitive southwest Las Vegas condo market — 320 units generate steady turnover, median days on market run about 55, and pricing is transparent because the building has enough sales volume to produce reliable comps. The $300K–$700K range attracts comparison shoppers from across the southwest valley, so well-priced units move; overpriced listings sit.
The Gramercy is not one-size-fits-all — it serves different buyer types across condos and townhomes from $300K to $700K. Six profiles below match lifestyles to unit types, followed by the honest pros and trade-offs our team walks every client through before a tour.
Ready to explore units at The Gramercy? Our team knows the building floor plans, view premiums, and HOA documents for every unit type.
Start Your Home SearchUnit Type Comparison
A like-for-like comparison of The Gramercy's main unit categories — entry pricing, lifestyle fit, and who each suits — drawn from the community plan record and active-listing data via Las Vegas REALTORS. Honesty note: specific per-unit medians change frequently in a 320-unit building; entry points reflect the plan record and typical 2026 active-listing ranges.
| Submarket | Median Price | $ / Sq Ft | Days on Market | Active Listings | Best For |
|---|---|---|---|---|---|
| Standard Condo Units | From $300K | n/a* | ~55 | n/a* | Entry · Investors · Professionals |
| Upper-Floor Condos | From $500K | n/a* | ~60 | n/a* | Views · Mid-Market Buyers |
| Townhome-Style Residences | From $550K | n/a* | ~65 | n/a* | Space · Multi-Level Living |
| Plaza-Level Access Units | From $300K | n/a* | n/a* | n/a* | Walkability · Convenience |
Source: Las Vegas REALTORS MLS data plus the NREG community plan record, June 2026. Per-unit $/SF and DOM figures reflect 89148 corridor benchmarks; building-specific data fluctuates with available inventory.
Unit Type Deep Dive
Submarket 1
The core product — modern one- and two-bedroom condo units with open floor plans, contemporary finishes, and city or mountain views depending on orientation. The most accessible entry point in the building.
Browse Standard Condo Units homes →Submarket 2
Higher-floor units with unobstructed valley or mountain views carry a view premium worth comparing in person. These units move at a slightly slower pace than entry-tier condos; pricing precision matters.
Browse Upper-Floor Condos homes →Submarket 3
Multi-level townhome residences with dedicated entry foyers, larger square footage, and a more single-family feel within the mid-rise footprint. The building's most differentiated product — buyers compare these against small detached homes.
Browse Townhome-Style Residences homes →Submarket 4
Lower-floor units with direct or near-direct access to the mixed-use plaza below — the most walkable addresses in the building for residents who want restaurants and offices without an elevator ride.
Browse Plaza-Level Access Units homes →Submarket 5
The ground-floor mixed-use plaza sets The Gramercy apart from every other southwest Las Vegas mid-rise: restaurants, cafés, and professional offices built into the building base create a walkable live-work-dine environment that no residential-only building in the 89148 corridor can match. Owning here means your commute to the coffee shop is measured in steps, not miles.
Browse The Mixed-Use Plaza — The Gramercy's Differentiator homes →STILL DECIDING?
BY ZIP CODE
ZIP code 89148 spans the southwest Las Vegas corridor around The Gramercy, mixing condo communities, single-family neighborhoods, and the 215 Beltway commercial strip. The table below situates The Gramercy within that broader market so buyers understand what the ZIP-area median means versus what the building itself delivers.
| ZIP | Primary Area | Median Price | $ / Sq Ft | Days on Market | Active | YoY |
|---|---|---|---|---|---|---|
| 89148 | The Gramercy — mixed-use mid-rise condos + townhomes | $300K–$700K (plan range) | n/a* | ~55 | ~10 units typical | n/a* |
| 89148 | Southwest Las Vegas single-family corridor | From $400K–$550K | n/a* | ~45 | — | n/a* |
| 89148 | Other 89148 condo communities | From $250K–$500K | n/a* | ~50 | — | n/a* |
| 89148 | 215/Russell commercial and mixed-use corridor | Commercial — not residential | — | — | — | n/a* |
| 89148 | Full ZIP benchmark — all property types | ~$450,000 list | — | ~55 | Varies | n/a* |
Source: Las Vegas REALTORS MLS plus NREG corridor analysis. *Unit-level $/SF and year-over-year change are intentionally omitted where sample size is insufficient. Boundaries per Clark County GIS.
New Construction
No new construction exists inside The Gramercy — the 320-unit Fifield Companies building completed in 2008 and today's opportunities are resales. Buyers who want new builds with condo or townhome profiles look to newer southwest Las Vegas master plans ten to twenty minutes away. Incentives change monthly — verify current offers before writing anything.
Family & Mid-Market
Broadest southwest Las Vegas new-build selection
55+ Active Adult
Active-adult alternative for downsizers comparing condo living
Family
Value-oriented new builds in the southwest corridor
Luxury & Move-Up
Closest luxury new-build profile to the Gramercy's townhome tier
Entry & Family
Entry-tier new construction for buyers comparing condo vs. detached
Outdoor Recreation
The Gramercy's southwest Las Vegas location puts the building pool and fitness center steps away and the valley's park and trail network within a quick drive. The City of Las Vegas maintains the surrounding park system, usable through 300 days of annual sunshine.
IN-BUILDING
The building's pool deck and fitness center are the day-to-day outdoor-lifestyle core — steps from the lobby, no drive required.
5 MIN
The publicly accessible green space and dining district between T-Mobile Arena and Allegiant Stadium — a quick drive east on the 215.
20 MIN
The Strip's most iconic outdoor public space — the Bellagio fountain promenade and gardens, accessible by car or rideshare in twenty minutes.
20 MIN E
One of Las Vegas's largest parks — a lake, sports fields, walking trails, and picnic areas maintained by Clark County, twenty minutes east on the 215.
35 MIN
The Mojave's signature conservation area — the 13-mile scenic loop and world-class hiking managed by the Bureau of Land Management, thirty-five minutes northwest.
25 MIN W
The west valley's shopping, dining, and events hub — farmers markets, seasonal festivals, and Las Vegas Ballpark a twenty-five-minute drive west on the 215.
25 MIN NW
A northwest Las Vegas regional park with desert hiking trails and panoramic valley views — a weekend option for Gramercy residents who want trails without the Red Rock drive time.
15 MIN
Home of the Las Vegas Raiders and Golden Knights, both fifteen minutes east on the 215 — entertainment options that rarely require an overnight in the tourism corridor.
The Gramercy Lifestyle
Three zones within twenty minutes of the lobby: coffee at the plaza-level restaurant below, an afternoon pool session on the building deck, and dinner anywhere on the Strip — with Red Rock Canyon's roughly 195,000 conservation acres per the Bureau of Land Management thirty-five minutes northwest when you want to escape the city entirely.
THIS WEEKEND'S OPEN HOUSES
Open houses at The Gramercy run more frequently than at boutique or guard-gated buildings — 320 units in a mid-rise means sellers welcome broader exposure. Set up instant alerts to catch a new open house within hours, or browse every active listing now and request a private building tour with full floor-plan access.
Build a budget around the particular home and your circumstances. Obtain current financing terms, property records and service quotes before comparing the cost of a move. A community average cannot establish your tax bill, insurance premium, association charges or savings.
Ask a tax adviser to review income sources, residency dates and any continuing connections to another state. California-source income can remain taxable after a move; the Franchise Tax Board explains part-year and nonresident rules. A headline tax-rate comparison does not calculate your savings.
Get the exact parcel's current tax bill and assessment record from its county. Confirm the property's abatement status and any effect of new construction, a change in use or your circumstances with the assessor. Do not apply a community-wide percentage to a purchase price or assume a tax cap is automatic.
Use lender estimates, insurance quotes, association documents and utility information for the exact address. Include maintenance, moving expenses and any special assessments in the comparison. Renting and buying involve different costs and obligations; future equity or resale gains are not assured.
Check school assignments for the enrollment year and ask about choice-program applications. Investigate parcel-specific hazards and permitted uses with the responsible agencies. Review travel routes and the features that matter to you instead of relying on a broad safety score or a neighborhood recommendation based on household type.
Discuss the homes, budget and timing you want to evaluate with the team.
Explore relocation planningRELOCATION TIMELINE
Plan the purchase and move around your circumstances and the property's verified requirements. Coordinate the transaction, possession and moving arrangements with the relevant parties. For license and vehicle questions, consult the Nevada DMV new-resident guide. Confirm your own deadlines and any exemptions directly with the agency.
Compare homes using your budget, accessibility needs, desired features and travel routes. Evaluate the particular property and surroundings using your own priorities; a neighborhood label does not establish its suitability.
Ask a lender for terms based on your circumstances and the property. Obtain the parcel tax record, insurance quotes, association charges and other recurring costs; a community-wide estimate cannot establish your payment or approval.
Discuss services, compensation, communication and touring arrangements with the agent. Confirm the details in the applicable agreement before relying on a promised service or access to a property.
Check school assignments with the district for the enrollment year and ask about separate program applications. Review parcel-specific flood, wildfire, utility, zoning and intended-use questions with the relevant agencies and service providers.
Discuss price, deposit, contingencies and the proposed schedule with your agent and lender. The signed contract determines the transaction deadlines; market averages do not promise when an offer will be accepted or a purchase will close.
Arrange appropriate inspections and review disclosures, title information, association documents and financing conditions. Investigate unresolved findings with the relevant specialist before the contractual decision deadlines.
Verify which utilities serve the address, what deposits or appointments are required, and when service can begin. Coordinate access and the moving date with the agreed possession terms and any building or association requirements.
Confirm completion and possession with the closing parties before arranging access. Consult the Nevada DMV's current new-resident guide for license, registration, documentation and exemption requirements that apply to you.
ECONOMY & JOBS
The Gramercy sits in the southwest Las Vegas professional economy: 215 Beltway access reaches the Strip employment core, the Henderson medical corridor, and the Summerlin campus. According to the U.S. Bureau of Labor Statistics, the Las Vegas metro remains historically strong, and community records put average household income here at $85,000+.
Sources: U.S. Bureau of Labor Statistics, City of Las Vegas. Last updated June 2026.
COMMUNITY COMPARISON
Weighing The Gramercy against other Las Vegas mid-rise and high-rise options, this side-by-side covers the metrics buyers ask about most, updated June 2026. The Gramercy wins on value and walkability; One Queensridge Place wins on amenity depth; Turnberry Place wins on Strip adjacency — sourced to LVR, U.S. Census, and FBI UCR.
| Metric | The Gramercy | One Queensridge Place | Turnberry Place | Las Vegas |
|---|---|---|---|---|
| Price Range | $300K–$700K | $500K–$5M+ | $400K–$3M+ | $476K median |
| Total Units | 320 | 219 | 380 | — |
| Entry Point | $300K | $500K | $400K | $200K+ |
| Security Model | Secured entry + concierge | Guard-gated + building concierge | Secured + concierge | Varies by community |
| Mixed-Use Walkability | Yes — plaza below | Adjacent (Tivoli Village) | Adjacent (Strip area) | Varies |
| HOA Range | $300–$700/mo | $1,500–$5,000+/mo | $1,000–$3,500+/mo | Varies |
| Best For | Value · Walkability · Professionals | Luxury · Scarcity · Guard-gated | Luxury · Strip adjacent | Selection · Diversity · Price range |
| Airport Drive | ~15 min | ~25 min | ~20 min | ~15–25 min |
Sources: Las Vegas REALTORS, U.S. Census QuickFacts. Building figures are community plan record values; citywide statistics are Las Vegas-wide. Last updated June 2026.
Build a property-specific budget using a lender quote, the parcel tax estimate, insurance quotes and association documents. The starting amounts below are editable illustrations, not current local rates or verified fees. Compare the result with your Loan Estimate, and budget separately for maintenance, utilities and closing costs.
Inputs are assumptions, not a loan offer, insurance quote or parcel tax calculation. This simplified fixed-rate example applies the selected PMI rate below 20% down; actual mortgage-insurance eligibility, cost and cancellation depend on the loan. Maintenance, utilities, closing costs and special assessments are additional. Review the CFPB housing budget guide and confirm amounts with the relevant providers.
BUYING AND RENTING
Compare actual homes that meet the same needs over your expected time in the area. A purchase price and an advertised rent alone do not establish which option costs less. Use current quotes and separate monthly cash flow, upfront cash, and the amount you might recover when moving.
Start with the down payment, lender and closing charges, and any immediate repairs. Add principal and interest, property taxes, insurance, mortgage insurance where applicable, association dues, utilities and ongoing maintenance. Identify expenses paid outside escrow so they are included in your household budget.
For a later sale, model the remaining loan balance and selling expenses. Appreciation is uncertain; compare unchanged-price and lower-price cases as well as any growth assumption. Principal repayment builds an ownership interest, but that does not guarantee a profit or make every cash payment recoverable.
Use an actual lease offer and confirm the term, deposit, renewal provisions, parking, pet charges, utilities and renter's insurance. Record which maintenance services are included and any costs or restrictions associated with an early move. An advertised starting rent may not include every required charge.
Keep the comparison consistent: use the same time period, household needs and moving assumptions. Include the cash that remains available when a down payment is not used, without assuming a guaranteed investment return. Your need for flexibility and responsibility for repairs also matter alongside the financial figures.
There is no verified community-wide holding period or five-year equity gain shown here. Ask your lender to explain financing assumptions and have a tax professional assess any claimed tax benefit for your circumstances. Keep a copy of the quotes and dates so you can update the comparison before making an offer.
PROPERTY-SPECIFIC ASSOCIATION COSTS
A community name does not establish a property's current dues or all the associations that govern it. Obtain the applicable resale package, budget and governing documents for the exact address. Confirm the effective date and payment frequency of each fee with the association or its manager.
Identify master and sub-association dues separately. Check whether utilities, exterior maintenance, insurance, amenities or club access are included, optional or billed separately. A listing's monthly figure may omit a quarterly or annual charge, and an advertised amenity does not establish membership rights.
Ask about transfer, document, capital-contribution and other transaction fees, as well as approved or proposed assessments. Confirm who pays each item under the contract. Review available reserve and budget information; historical dues are not a guarantee of future charges.
Verify the actual rules for leasing, pets, parking, property changes and amenity access. Age restrictions and gate staffing require their own current documentation. Do not assume neighboring subdivisions or similarly named communities have identical rules, services or fees.
COMMUTE & TRANSPORTATION
The 215 Beltway is The Gramercy's superpower: immediate access north, south, east, and west connects every major Las Vegas Valley destination. Mean Las Vegas commutes run about 25 minutes per U.S. Census ACS data — and most Gramercy destinations beat that comfortably thanks to the 215.
Drive times based on average non-rush-hour conditions. Sources: Google Maps traffic data, RTC of Southern Nevada.
Quick Answer
Most Gramercy purchases close in 30 to 45 days through a Nevada escrow company. Cash offers can close in 10 to 14 days. Financed buyers should confirm building warrantability and factor in HOA questionnaire turnaround — typically three to five business days — before choosing a lender or financing structure.
Quick Answer
Most Gramercy buyers put down 10% to 20%. On a $450,000 unit, that runs roughly $45,000 (10%) to $90,000 (20%) at closing. FHA loans can work for qualifying primary-residence buyers at lower price tiers with as little as 3.5% down — but confirm building FHA approval first. VA loans allow 0% down for eligible veterans. Conventional financing is the most common path; confirm building warrantability with your lender before selecting a loan product.
The Gramercy FAQ — 18 Answers
Residences at The Gramercy range from approximately $300,000 for standard condo units to $700,000 for larger townhome-style residences, per the community plan record. The market median tracks around $516,500 per Las Vegas REALTORS MLS data, with units averaging about 31 days to sell. Floor, view, and unit type drive pricing within that band.
Monthly HOA fees at The Gramercy run $300 to $700 per month depending on unit type and sub-association, covering building maintenance, pool, fitness center, concierge, secured parking, water, trash, and common-area upkeep. Request the full resale package — current dues, reserve study, and any assessment history — early in escrow. Compare total monthly carrying cost, not just list price, when modeling your budget.
Yes — The Gramercy is a boutique mixed-use mid-rise development in the 215/Russell corridor, with modern condos and townhome-style residences above a walkable plaza of restaurants and professional offices. That live-work-dine configuration is the core lifestyle proposition: errands, coffee, and dinner within steps of the lobby, plus quick access to the 215 Beltway for the wider valley.
Most Gramercy purchases close in 30 to 45 days through a Nevada escrow company. Cash offers can close in 10 to 14 days. Financed buyers should have their lender confirm building warrantability and condo project approval early — some Las Vegas mid-rise buildings require portfolio lenders or carry higher rates if the project is non-warrantable. Factor in HOA document review time when building your escrow calendar.
Nevada's effective property-tax rate runs approximately 0.5–0.7% of assessed value per the Clark County Assessor, and the state caps annual increases on a primary residence at 3% under Nevada Revised Statutes 361.471. On a $516,500 Gramercy unit, that means roughly $2,250–$3,150 per year — a fraction of what a comparable urban condo carries in coastal California at the 1.0%+ effective rate.
The Gramercy's rental policy lives in its HOA bylaws and CC&Rs — minimum lease terms, any rental caps, and short-term rental restrictions are set by the board and can change. Never assume. Request the current rental policy documents during your contingency window; Nevada Real Estate Group can flag anything that affects your investment plan before you close. Call (702) 637-1759 for current building rental details.
The Gramercy is zoned to Clark County School District campuses in the 89148 corridor. Private options include Bishop Gorman High School and The Meadows School, both rated A+ by GreatSchools and accessible within twenty minutes. Coral Academy of Science charter campuses offer a strong STEM track west of the 215. Always verify zoning for your specific unit address before making an offer, as CCSD boundaries shift periodically.
The Gramercy delivers a practical urban amenity stack: pool, fitness center, concierge, secured entry, and controlled-access parking — all bundled into the HOA dues. The mixed-use plaza brings restaurants and professional offices into the building footprint. Compare the pool and fitness deck at peak hours before you commit — amenity quality varies across buildings in this price range, and The Gramercy's boutique scale means less crowding than larger towers.
The Gramercy features secured entry, concierge or front-desk staffing, surveillance, and controlled-access parking — a security stack appropriate for an urban mixed-use mid-rise. It is not a traditional guard-gated community in the patrol-and-wall sense of Queensridge or MacDonald Highlands, but building access is controlled at every entry point. Buyers prioritizing layered guard-gated security should compare against traditional gated communities ten to fifteen minutes away.
The Gramercy wins on accessibility and price point: $300K–$700K units in a mixed-use walkable plaza, versus $500K–$5M+ at One Queensridge Place or $400K–$3M+ at Turnberry Place. The trade-off is unit size and amenity depth — those buildings offer full-service concierge and resort pools at a higher dues tier, while The Gramercy offers urban convenience at a lower carrying cost. Buyers choose The Gramercy for value, location, and walkability.
Nevada levies zero personal state income tax — a household earning $300,000 saves roughly $25,000 per year versus California's 13.3% top rate per the California Franchise Tax Board. Add the Clark County Assessor's 0.5–0.7% effective property-tax rate, the 3% annual primary-residence cap under NRS 361.471, and no inheritance tax, and The Gramercy's carrying costs run well below a comparable California urban condo in any direction.
Yes — for different reasons. Young professionals value the 215 Beltway access, the walkable plaza, and a $300K–$700K entry into an established southwest Las Vegas address. Investors value the 320-unit scale (more liquid than boutique buildings), the HOA-covered maintenance model, and Nevada's zero state income tax on rental income. Check the CC&Rs rental policy first; investment returns depend on what the board allows.
Depending on floor and orientation, Gramercy units capture views of the Las Vegas Valley, the Spring Mountains, or the southwest corridor skyline. Higher floors and unobstructed west-facing exposures price toward the top of the $300K–$700K range and tend to resell faster. Compare multiple unit lines in person — listing photos rarely capture how sightlines and natural light vary across the building's floor plan matrix.
The Gramercy's 215/Russell mixed-use setting gives residents immediate walkability to the plaza-level restaurants and offices below — unusual in a southwest Las Vegas market built around driving. Grocery, dining, and fitness needs are met within steps. The 215 Beltway delivers the whole valley in minutes: Downtown Summerlin is twenty-five minutes west, the Strip is twenty minutes east, and Harry Reid Airport runs fifteen to twenty minutes south.
Four things matter most. First, warrantability: confirm your lender has condo project approval for this building before committing to financing terms. Second, the rental policy: read the CC&Rs before writing an offer if you plan to lease. Third, dues: $300–$700 monthly varies by unit type — get the exact figure for your unit early. Fourth, comps: with 320 units in the building, pricing is more transparent than a small enclave. Call (702) 637-1759 and we will pull the right comparables.
Most Gramercy buyers put down 10% to 20%. On a $516,500 unit, that runs roughly $45,000 (10%) to $90,000 (20%) at closing. Conventional financing works if the building is warrantable — confirm project approval with your lender before shopping. FHA loans can work for primary-residence buyers at the lower price tiers; VA loans allow 0% for eligible veterans. Always verify the building's warrantability status first, as non-warrantable projects require portfolio lenders at higher rates.
On a $516,500 purchase with 10% down at 7%, model roughly $2,700 in principal and interest, $225 in property taxes, $90 in insurance, $400 in HOA dues, and $200 in PMI — total carrying cost near $3,600 per month. HOA dues for your specific unit may run $300 to $700 depending on type; confirm before closing. Per Freddie Mac PMMS, rates change weekly — recalculate with your locked rate for precision.
Yes — our team covers The Gramercy and the full southwest Las Vegas condo and mid-rise market. We pull building-specific HOA documents, advise on unit-line pricing and view premiums, connect buyers with lenders who have approved the building, and coordinate the resale package review during escrow. Call (702) 637-1759 or submit the form on this page and a specialist will respond within the hour.
Updated September 2026
STILL HAVE QUESTIONS?
Want more Nevada real estate answers like this in your Google results?
PEOPLE ALSO ASK
These are the eight queries Gramercy buyers actually type into Google and AI assistants — answered with specifics you can verify: market figures from Las Vegas REALTORS, tax law from the Nevada Revised Statutes, and community facts from the plan record.
The Gramercy offers a reasonable value-tier condo investment: a $300K–$700K basis, 2008-vintage modern product, HOA-covered operating costs, and Nevada's zero state income tax on rental income. Check the CC&Rs rental policy first — investment returns depend entirely on what the building board allows for minimum lease terms and rental caps.
The Gramercy is in ZIP code 89148 — the southwest Las Vegas corridor along the 215/Russell Road intersection. That places it inside the City of Las Vegas with immediate 215 Beltway access, fifteen minutes from Harry Reid Airport and twenty minutes from the Strip.
Short-term rental policy at The Gramercy is set by the HOA CC&Rs and can change by board vote. Never assume short-term rentals are permitted — request the current rental policy documents during your contingency window before closing. The City of Las Vegas also regulates short-term rentals independently of the HOA; both layers apply.
The Gramercy contains 320 residential units across the mixed-use mid-rise building, per the community plan record. The Fifield Companies completed the building in 2008; today's market is entirely resales — no new construction is possible within the existing building envelope.
Both — The Gramercy is a mixed-use mid-rise with standard condo units from $300K and multi-level townhome-style residences from approximately $550K. All units are condominiums in the legal sense, governed by the same HOA; townhome residences have multi-level layouts with dedicated entry foyers that feel more like single-family homes.
The Gramercy is located in the 215/Russell Road corridor of southwest Las Vegas, ZIP 89148, in the City of Las Vegas. Call (702) 637-1759 or search the live listings on this page for the current unit addresses active on the MLS.
Possibly — FHA loans require the condo project to have FHA approval, which must be confirmed with your lender before committing to that financing path. FHA-approved buildings allow as little as 3.5% down for qualifying buyers. If the project is not currently FHA-approved, conventional or portfolio financing becomes the alternative. Our team can refer lenders who know The Gramercy's current approval status.
The Gramercy is about twenty minutes from the midpoint of the Las Vegas Strip via the 215 Beltway — close enough for Strip events and dining without paying the Strip-adjacent price premium. The immediate neighborhood is southwest Las Vegas's professional residential corridor, not the entertainment district.
WHY NEVADA REAL ESTATE GROUP
Direct builder relationships, Nevada's largest agent team, and thousands of verified five-star reviews. Across 9,600+ closed transactions and $4.85B+ in volume since 2011, our agents cover the full Las Vegas condo and mid-rise spectrum — including southwest Las Vegas communities like The Gramercy where HOA knowledge, warrantability experience, and view-tier pricing expertise determine outcomes.
WORK WITH THE BEST
Tell the team about your preferred area, budget, timing and property requirements. Ask about representation and the records needed to evaluate a particular home. Review current listings, comparable sales and the written terms of any services before deciding how to proceed. Contacting the team does not guarantee a purchase, sale price or response deadline.
NEARBY COMMUNITIES
Compare The Gramercy with neighboring Las Vegas high-rise and condo communities, plus nearby master plans. Each card pairs the commute time with price positioning so you can judge whether a different building or community actually buys you more home or amenity for the money.
More Las Vegas communities
Shopping the whole city? Browse all Las Vegas homes for sale — live MLS listings updated daily.
A–Z INDEX
The Gramercy sits within the broader southwest Las Vegas and Las Vegas Valley condo market. The communities below are indexed alphabetically for orientation, and our team can pull current listings, HOA documents, and building-specific data for any of them on request.
KEEP LEARNING
These guides extend the research most Gramercy buyers do next — understanding the citywide Las Vegas condo market, weighing other southwest Las Vegas communities, and mapping the condo buying process — each written by our team from the same MLS data and primary sources used throughout this page.
MARKET GUIDE
The citywide playbook — pricing, inventory, rates, and where the valley's momentum actually is this year.
Read →LUXURY COMPARISON
How the valley's two luxury poles compare — useful context for buyers comparing The Gramercy against estate-tier alternatives.
Read →MARKET HUB
Citywide market data, every major Las Vegas community, and side-by-side comparisons in one place.
Read →NEIGHBORHOOD GUIDE
The valley ranked by buyer type — families, first-timers, luxury, retirees — before you tour.
Read →Sources & Methodology
Every statistic on this page is sourced from a primary or government dataset, and we refresh these numbers monthly. The Gramercy's 320-unit scale provides meaningful comp data for the 89148 corridor — more transparent than boutique buildings, though individual unit-level figures still require a specific comp pull. Follow any link below to verify a claim.
Methodology: Listing data is sourced via Repliers IDX feed (Las Vegas MLS) and refreshed every 15 minutes. Demographic and economic data are pulled monthly via Census/BLS APIs. School data is refreshed quarterly. All comparisons are like-for-like (same metric, same time period).
Updated: September 2026 · Next update: October 15