David Edelstein has been busy. The principal of TriStar Capital, LLC, recently completed the $400 million W South Beach in Miami while managing commercial and residential properties in New York City, South Florida and on the West Coast. Not bad for a guy who took out a $15,000 loan in 1981 to purchase his first building.
But for all his successes, Edelstein’s unprecedented transformation of Las Vegas’ Desert Passage into the dynamic Miracle Mile Shops continues to be a particular point of pride. “The location drew me in,” he explains. “There were many things that needed changing and prompted us to take action.”
Part of the erstwhile Aladdin resort (now Planet Hollywood Resort & Casino), the Desert Passage was a tired collection of retail shops lost in the din of an evolving Strip. Edelstein bought the space in 2004 and proceeded to replace the Middle Eastern theme with modern storefronts, crystal chandeliers and a multimillion- dollar fountain show. He also installed people movers, a backlit sidewalk water feature and immense LED screens, finally giving the property a commanding street presence.
Inside Miracle Mile Shops’ 475,000 square feet of retail space is an H&M, along with other youthful fashion staples like Billabong, True Religion, Guess and Urban Outfitters. Diverse menu options include the Sin City Brewing Co., Sugar Factory and Cabo Wabo Cantina. The V Theater also offers on-site diversions, from a Beatles cover show to hypnotists. “It’s comfortable, affordable, has amazing dining outlets and is packed with entertainment,” says Edelstein. “We give visitors an experience they can’t find anywhere else.”
LAS VEGAS FAVORITES
Favorite store: Ben Sherman at Miracle Mile Shops
Favorite Miracle Mile Shops show: V—The Ultimate Variety Show is awesome and offers something for everyone.
You were once a cabbie. Any tips on driving in Vegas? Walk as much as possible and use the I-15 only when necessary.