LAS VEGAS-The distinctive, two-tower Pinnacle Las Vegas condominium-hotel project long planned for Tropicana Avenue west of the Strip may be losing some buyers. On behalf of Florida-based Green Cable LLC and 250 other buyers who each put down a 10% deposit for a unit in the project under contracts with addendums that included certain performance targets for each side, local attorney Samuel A. Schwartz has filed a would-be class-action complaint in the US District Court of Nevada that claims breach of contract and seeks upward of $5 million in returned deposits, damages and attorney fees.

“I believe Pinnacle is a great project and would like to see it built,” Schwartz tells “But the construction delays have led to a feeling in most of us that we have waited long enough and there are better uses for our money. We are seeking the return of our deposits and the opportunity loss associated with the anticipated failure of the project.”

The attorney representing the defendants–Pinnacle Las Vegas LLC, 4645 Tropicana Partners LLC, Falconi Group, Dick Pacific Construction Co., Elysium Enterprises Inc. and Praxis Resources–says the complaint is baseless. “Generally my clients do not comment on litigation when it is pending; however, we have done a review of this and do not think it has any merit,” attorney Cynthia LeVasseur tells “We will be filing a motion to dismiss the action with the court this week.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.