Ivana Trump unveils high-end Vegas condos

Architectural renderings suggest building will resemble a huge lipstick case

Tina Fineberg / AP

Ivana Trump poses in her home in New York on Aug. 17. "I always felt very secure and very safe with real estate. Real estate always appreciates," she said in an interview.

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updated 7:00 p.m. ET Aug. 17, 2005

NEW YORK - A $35 million, 20,000 square foot penthouse may not be everyone’s idea of a starter home, but Ivana Trump hopes celebrities will snap it up. After all, she says, real estate is a good bet for anyone.

“I always felt very secure and very safe with real estate. Real estate always appreciates,” Ivana Trump said Wednesday in an interview at her Manhattan town house.

Ivana Trump, a former wife of Donald Trump who once managed Atlantic City casinos and was responsible for all the interior design of Trump’s real estate, added: “I made a tremendous amount of money on real estate. I’ll take real estate rather than go to Wall Street and get 2.8 percent. Forget about it.”

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At 82 stories tall, the building will be a dominant fixture of the Nevada city’s skyline. Work on the 925-foot building, known as Ivana Las Vegas, will start next year and the project likely will be completed by 2008, Ivana Trump said.

Sales materials for the luxury residential project show prices for the units in the building range from $550,000 to $35 million for the penthouse.

Architectural renderings of the planned project in sales brochures suggest the planned building will have a passing resemblance to an enormous silver lipstick case. Shaped like a crescent, it will have 945 apartments that Ivana Trump hopes will attract business executives, entertainers and others who “love Nevada because of its weather.”