The Cosmopolitan Offers Tenants First-Ever Vertically Integrated Shopping & Dining Venue

Spectacular Glass Atrium Designed to Move Patrons Up Unique Dining Club Level Beckons Visitors & Diners

LAS VEGAS, May 26 /PRNewswire/ — The nature of the $1.5 billion Cosmopolitan Resort & Casino’s visionary design is stunning architecture that not only invites visitors “in” from Las Vegas Boulevard, but “up” through its property. As the city’s only skyscraper on The Strip, this mixed-use, high-rise resort is the first-ever to seamlessly integrate all aspects of its vertical design.

“Our architectural design beckons visitors, shoppers, and diners to experience The Cosmopolitan in a fully integrated and vertical fashion,” said Ian Bruce Eichner, CEO of 3700 Associates, LLC, the developer of The Cosmopolitan. “We’ve designed a spectacular vertical transportation system of bridge-ways, escalators, and elevators to the stores and restaurants inside. Our stunning glass-enclosed atrium will be an attraction by itself,” said Eichner.

Spread over three floors fronting Las Vegas Boulevard, The Cosmopolitan’s layout of retail stores and restaurants is based on easy access and convenience for consumers with unprecedented branding and signage opportunities for tenants. The shopping and dining levels feature transparent floor-to-ceiling window displays and panoramic balcony views of The Strip below.

“Once patrons enter from Las Vegas Boulevard, they find themselves immersed inside a beautifully designed space that vertically integrates the attractions inside the Cosmopolitan,” said Jim Reding, director of retail for 3700 Associates, LLC. “We’ve even designed a dining club level with spectacular open-air, balcony views of the Bellagio’s fountains, the Eiffel Tower, and Las Vegas Boulevard,” said Reding. The make-up of the nine to 11 restaurant tenants will be “powerful names that have not been to Las Vegas yet,” said Reding. Additionally, a nightclub district will be located above the restaurants with brand exposure to the Strip below.

The Cosmopolitan’s transparent, glass-enclosed perimeter provides not only spectacular views for patrons, but marketing and branding opportunities for retailers. “Retailers and restaurant tenants will have floor-to-ceiling window displays to capture pedestrian traffic,” said Reding. “Rather than being sequestered behind walls or obscured by themed attractions, the store or restaurant will captivate onlookers with amazing floor-to-ceiling window displays. Passers-by will have the unique experience of being able to look directly into shops to see the latest fashions at one of the world’s most highly trafficked avenues,” said Reding.

“The response so far is very positive with many letters of intent received and several leases about to be executed with our ideal targeted tenants,” Reding added.

At 300,000 sq. ft. of retail shops and restaurants on three separate levels, the Cosmopolitan space is divided between 170,000 sq. ft. of prime retail space, housing between 45 and 50 retail stores and boutique tenants, and 130,000 sq. ft. of restaurants and lounges.

The Cosmopolitan began taking pre-sales condo reservations on February 14, 2005. For sales information, please contact the Sales Offices of the High-Rise Development Group for Prudential Americana at (702) 215-5500, or visit www.cosmolv.com.

About 3700 Associates, LLC

Formed in April 2004, 3700 Associates, LLC brings together one of the nation’s foremost real estate moguls from New York City and Miami with one of the gaming industry’s top developers and a major, world-wide financier. The trio will develop the $1.5 billion Cosmopolitan Resort & Casino on previously undeveloped acreage at the center of the famous Las Vegas Strip (next door to Bellagio). The Cosmopolitan will be a boutique, mixed-use luxury condo-hotel-resort featuring condominiums, hotel rooms, a casino, retail, dining and entertainment venues, meeting rooms, and The Cosmo Beach Club and is scheduled to break ground in mid-2005 and open in early 2008. The 3700 Associates partnership is led by Miami and New York City developer Ian Bruce Eichner, one of the country’s leading real estate developers who serves as the group’s Chief Executive Officer. Eichner has developed more than six million square feet of luxury residential, office, hospitality and retail space in the Northeast and Florida totaling more than $2 billion in the last 25 years. Eichner most recently opened the Continuum on South Beach, a luxury condominium project in Miami’s trendy South Beach area that has achieved record sales per square foot. Eichner partnered with noted gaming developer David Friedman, a former executive at The Venetian where he served as Assistant to Chairman Sheldon Adelson. Friedman serves as the President of the Las Vegas-based group. During his nine-year tenure, he helped finance and develop The Venetian and led The Venetian’s successful effort to secure a coveted gaming license in Macau, China. Eichner and Friedman are joined by an affiliate of Dune Capital Management LP which is controlled by Steven T. Mnuchin. Dune provided the majority of the capital to, and is the Managing Member of, 3700 Associates LLC.

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