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Category Archive : Just Sold

10000 SUMMIT CANYON DRIVE, LAS VEGAS

Summerlin Home Located on Bellacre Community Golf Course Sells for Nearly $4 Million

LAS VEGAS, NV – A Summerlin home on a golf course located within the master-planned community of Bellacre – featuring a lavish custom kitchen that boasts a $50,000 French oven – recently sold on the open market for nearly $4 million.

The home in question – which was purchased for $3.8 million – is located on a one-acre double lot on Bellacre’s TPC golf course and is a custom-built residence originally constructed in 2002. The sizable home comes in at 9,954 square-feet and features six bedrooms, five full bathrooms, and a garage that can accommodate up to four automobiles.

According to the listing agent, the previous owner had conducted extensive renovations to the residence, sinking nearly $1 million into a series of upgrades that included multiple aspects of its structure; however, the main transformation centered around the kitchen.

That kitchen was recreated nearly from the ground up to have everything that a master chef could ever possibly want or need to create a plethora of culinary delights. These include a custom-made $50,000 La Cornue stove range with gas burners and electric burners, a large French top, a power burner, and a gas lava-rock grill. In addition, there are two vaulted ovens with copper finishes, one gas and one electric.

There are also two islands in the kitchen with refrigerator drawers and double dishwashers, a double-size Sub-Zero range, a $6,000 Miele coffee maker, and a 1,000-bottle wine cellar with a multi-floor dumbwaiter.

The home also has various options for entertaining guests, including two bars, big-screen televisions, and a built-in entertainment and media center. There is also an underground racquetball court, gym, dry sauna, cold plunge pool and laundry room.

The main bedroom on the second floor has a fireplace, entertainment center, walk-in closets, a sitting room, and a balcony overlooking the backyard, offering views of the TPC golf course and surrounding mountain ranges, making this residence certainly a one-of-a-kind buy… even in Las Vegas.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Raiders

NFL Raiders Expands Las Vegas Footprint, Purchase Three Buildings for $56 Million

LAS VEGAS, NV – Las Vegas Raiders owner Mark Davis recently purchased three industrial buildings – one of which being the unfinished practice facility of the WNBA Las Vegas Aces – for $56 million, increasing the NFL team’s foothold in Southern Nevada even further. 

Davis purchased the three buildings, which are situated next to the Raiders’ Henderson-based headquarters, from Matter Real Estate Group.

The Aces’ 80,000-square-foot training complex is currently new, albeit unfinished, and once construction is expected to be completed in March 2023, and anticipated to include numerous amenities such as a weight room, daycare facility, player lounges, a lecture hall, and more. 

The Aces were originally purchased by Davis from MGM Resorts International in 2021, and in September 2022 the team won the WNBA Finals against the Connecticut Sun

The Raiders have a major real estate footprint in Las Vegas, including 60 acres of land purchased for $77.5 million in 2017 upon which their current home field – Allegiant Stadium – stands, as well as 55 acres of land in Henderson purchased in 2018, where they constructed a 300,000-square-foot practice facility and headquarters complex. 

An additional 20 acres of land adjacent to Allegiant Stadium was also purchased by the Raiders for $44 million that will mainly be used for a parking facility. 

Davis is also in the process of building a 15,000-square-foot home located within a luxury master-planned community in Henderson called Ascaya which will feature a man cave, professional kitchen, bar, steam room, library and 5,500-square-foot garage. The home is costing the Raiders owner $14 million, but currently its overall completion date is still up in the air. 

As for the aforementioned three industrial buildings that make up Davis’ most recent acquisitions, their exact intended use – aside from the Aces’ training facility – has yet to be revealed. 

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

HCA Healthcare File photo: JHVEPhoto, Shutter Stock, licensed.

HCA Healthcare Purchases Nearly 57 Acres on Las Vegas Boulevard for Potential New Medical Facility

LAS VEGAS, NV – HCA Healthcare has purchased a nearly 57-acre plot of land along Las Vegas Boulevard from Station Casinos for approximately $62.3 million, fueling speculation that the hospital chain will be opening up a new medical facility along the Las Vegas Strip in the future.

The sale of the property, located at the northwest corner of Las Vegas Boulevard and Cactus Avenue, was closed in late December 2022, property records show.

Antonio Castelan, Communications Manager and Spokesman for HCA Healthcare, confirmed that the purchase of the property from Station Casinos had taken place but stated there are currently no concrete plans for the property that they can reveal as of press time.

“We buy land from time to time for potential use in the future,” he said. “No specific plans have been made on the use of the land.”

HCA Healthcare is an operator of health care facilities and founded back in 1968. It is based in Nashville, Tennessee, and as of May 2020, owns and operates 186 hospitals and approximately 2,000 sites of care, including surgery centers, freestanding emergency rooms, urgent care centers and physician clinics in 21 states and the United Kingdom.

As of 2021, HCA Healthcare is ranked #62 on the Fortune 500 rankings of the largest United States corporations by total revenue.

Station Casinos have been involved in a series of real estate moves recently; approximately one month before closing on the deal with HCA Healthcare, their parent company, Red Rock Resorts, announced that Texas Station, Fiesta Rancho and Fiesta Henderson – three of the firm’s Vegas-area resorts, all shuttered since the start of the COVID-19 pandemic – are scheduled for demolition, with the land then to be sold to the highest bidders.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Main stage of Route 91 Harvest festival

Site of Infamous Las Vegas Mass Shooting Sold by MGM to Three Affiliated Tribes of North Dakota

LAS VEGAS, NV – The Village, the site of the infamous 2017 mass shooting that is considered the deadliest such event in U.S. history, was announced on Friday as having been sold by MGM Resorts International to the Three Affiliated Tribes of North Dakota (MHA Nation). 

It is currently unknown how much the 13-acre plot of land, located at the site of the 2017 Route 91 Harvest Festival, was sold for, although the sale does not include an additional two-acre section of the property that had been set aside for a permanent memorial to the victims of the shooting, according to MGM Resorts President Bill Hornbuckle. 

“We know the importance this location holds to so many and have always put tremendous thought into every consideration involving the site,” he said. “This is no exception.” 

The Three Affiliated Tribes of North Dakota is made up of the Arikara, Hidatsa and Mandan Nation tribes – also known as the MHA Nation – and is noted for collecting approximately $1.7 billion in tax revenues over the course of the last 15 years by allowing the federal government to drill for oil on their lands. 

The MHA Nation already owns and operates the 4 Bears Casino & Lodge on Fort Berthold Reservation land since 1993, and despite the future development plans of the Las Vegas sale not yet being disclosed, Three Affiliated Tribes attorney John Fredericks III teased that it may be used as the location of a new tribal-run hotel/casino resort. 

“This is a sound investment for the MHA Nation,” he said. “There are no immediate specific plans for development but the MHA Nation will be exploring its development opportunities in the near term.” 

On October 1, 2017, Stephen Paddock, 64, opened fire on the crowd attending the Route 91 Harvest music festival on the Las Vegas Strip in Nevada, firing over 1,000 bullets from 32nd-floor rooms in the Mandalay Bay hotel. Paddock killed 60 people and wounded at least 413 others; the ensuing panic increased the total of those injured to 867.  

Paddock was later found dead in his room, having shot himself; his motive for the shooting was never revealed. 

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

red rock resorts

Station Casinos Announces $24 Million Sale of Plot of Land Adjacent to Las Vegas Durango

LAS VEGAS, NV – Station Casinos, a hotel and casino company based in suburb of Summerlin South, has announced the nearly $24 million sale of a plot of land they had owned in Southwest Las Vegas that is adjacent to their currently in-development Durango Hotel and Casino resort.

The plot of land sold consists of 21.3 acres just to the west of the Durango, and was purchased by Las Vegas apartment developer Ovation Development Corporation for a total of $23.9 million; the sale closed last week, according to property records.

The Durango Resort began construction in early 2022, and is being developed at the intersection of Durango Drive and Interstate 215 in the southwest Las Vegas valley. The $750 million hotel-casino is estimated to be completed by fall 2023, and will boast a 73,000 square-foot casino, sportsbook, a 200-room hotel, four restaurants, and meeting space.

Station Casinos had originally purchased a 71-acre plot of land at the site, of which 50 acres is devoted to the Durango project; Station’s parent company, Red Rock Resorts, had previously announced that they would sell off the remaining redundant acreage, saying it would most likely be going to the developer of a multifamily residential project.

The location of the Durango is proving to be in a fast-growing part of Southern Nevada, and an additional apartment complex – especially one situated in a bustling, touristy section of the city – would go a long way to helping address the housing shortage plaguing the region.

This isn’t the first time Station and Ovation have conducted business; previously, the developer had purchased a five-acre lot in Henderson from the company in fall 2021 in order to build a 55-and-older residential complex.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

National Automobile Museum

Northwest Valley Home Sells for $4.65 Million, Offers “Super Garage” for Car Collectors

LAS VEGAS, NV – A home recently sold in Las Vegas’ northwest valley for the impressive sum of $4.65 million, but what’s even more impressive about this residence than the price is the fact that it uniquely caters to automotive enthusiasts, including a “super garage” custom-built by the previous owner of the property.

Mike Williams – the founder of Battle Born Steel, Las Vegas-based structural steel company – purchased the home and the property on which it stands in 2021 for $2.1 million. Williams then set out to renovate the one-story residence into the ultimate home for automotive fanatics and then sell it, something he has done three times already to date.

“This is the third home where I have gone in and redone it to my liking, which I think people are liking these days,” Williams said. “We did all the design with no architectural team and it was done by my wife, Athena, and I. But now, it’s time for another project. That’s what we do. We make it about a year or two years on the property and go see something else out there in the market, and that’s what we are venturing to see, now.”

The highlight of the residence is a massive 5,000 square-foot four-bay garage and workshop that can accommodate up to 22 cars; the facility also houses a “man cave” featuring air conditioning and a fully-stocked bar. Situated outside of the garage is a mini motocross track for dirt bikes, another pastime of Williams and his family.

The other side of the home takes the form of a 6,043 square-foot contemporary Tuscan-inspired mansion specifically designed for entertaining guests, offering five bedrooms, six baths, an additional six-car garage, two outdoor movie theaters with sunken wraparound seating, a fireplace and patio, pool and spa, basketball court, lounging areas and an outdoor kitchen.

Having sold the property, Williams said that he has now set out to find yet another home to renovate in line with his vision, for what will be the fourth time in a row.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

This $8M home was July’s top sale in the valley

Home in Summerlin’s ‘The Ridges’ Community is July’s Top Las Vegas Sale at $8 Million

LAS VEGAS, NV – A swanky home located in Summerlin’s high-end The Ridges master-planned community was Las Vegas’ top-priced sale in July, fetching a cool $8 million. This goes a long way to proving that while the housing market in Southern Nevada is experiencing an overall slowdown – much like the rest of the country – its luxury homes can still generate some very impressive sales figures regardless.

The home in question is located on Promontory Ridge Drive in The Ridges and is situated upon 0.54 acres; originally built in 2005, the home comes in at 12,345 square feet with six bedrooms, 7.25 baths, and a four-car garage, and has recently undergone a complete remodel with higher-end finishes.

Also, the home boasts an indoor basketball court, a gym, putting green, game room and movie theater, and the backyard has a resort-style pool/spa and outdoor kitchen.

Overall, the luxury housing market in Las Vegas is in the midst of its slowest period since January 2021 – an issue that is affecting the majority of the housing industry nationwide amid skyrocketing inflation, mortgage interest rates, and overall economic woes – but it still managed to net 105 closings on homes with values of $1 million or more in July.

Nonetheless, this number still represents a significant decrease from the 155 luxury closings in June, and the 167 luxury closings year-over-year. However, July’s figures certainly eclipse January 2021’s luxury sales figures, when just 86 luxury homes were closed on.

In addition, these are still 157 sales of homes valued at $1 million or higher currently pending – just 10 fewer then June – which experts say cements the fact that while Las Vegas luxury real estate has indeed taken a hit from the nation’s current economic turmoil, the $1 million or higher marketplace is still proving to be an overall significant money-maker.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Oscar De La Hoya

Boxing Legend Oscar De La Hoya Purchases Henderson Home for $14.6 Million in Luxury Community

LAS VEGAS, NV – The legendary Oscar De La Hoya, former professional boxing champion and current boxing promoter, has purchased a home that is currently in the process of being constructed in the luxury MacDonald Highlands community in Las Vegas’ Henderson neighborhood for an eye-opening $14.6 million.

De La Hoya, known in his boxing days as “The Golden Boy,” is now in possession of the highest-priced purchase in Las Vegas for the month of May, along with NHL Vegas Golden Knight player Alex Tuch, who was traded to the Buffalo Sabres and subsequently sold his Summerlin home for a pricey sum.

The MacDonald Highlands home purchased by De La Hoya is situated upon one acre and packs 10,460 square feet into a one-story dwelling. The home, located at 1990 South Bundy Drive, was purchased from luxury builder Blue Heron, boasts five bedrooms and an eight-car garage.

The design of De La Hoya’s new home is said to be “classic with a modern twist,” and possesses a high-end look and feel that has become the trademark of Blue Heron, according to listing agent Kristen Routh-Silberman.

“It represents another masterpiece and milestone for Blue Heron and Tyler Jones,” Routh-Silberman said. “It’s sensational and will be a showstopper once it’s complete. Blue Heron is constantly evolving and [with this home] here they are taking modern and mixing it with timeless. It’s a new look for them. It’s very refined for modern architecture. It should be a showpiece in Architectural Digest when it’s finished.”

The home features numerous amenities, including an entrance with water features and a porte-cochere – a covered entrance large enough for vehicles to pass through – in addition to panoramic views of the famed Las Vegas Strip and nearby mountain ranges.

In addition, the master bedroom is located in its own dedicated wing of the house, which also has a digital den and media room, an office, a wet bar, outdoor dining, a wine room, a lap pool, spa, fire lounges, and play areas.

Construction on the home will be completed by next spring, according to the developer.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Las Vegas Mansion of Casino Billionaire Steve Wynn

Steve Wynn’s Las Vegas “Billionaire’s Row” Mansion Sells at Discounted Price of $17.5 Million In All Cash Deal

LAS VEGAS, NV – Steven Wynn, a real estate businessman and art collector known for his involvement in the luxury casino and hotel industry, has finally sold his mammoth Las Vegas mansion for a fairly deep discount after originally listing it on the market in 2020 for $25 million.

The buyer, affluent British businessman Simon Dolan, stepped up to purchase Wynn’s opulent residence, with property records indicating that the closing price on the property – $17.5 million – was well below the initial asking price when it was first listed two years ago.

Wynn closed on the sale on June 1. Up until that point, the property had been on and off the market several times, with the asking price lowered in March 2022 to $24.5 million; this number represents 30 percent over and above what Dolan would finally end up paying for the residence.

Located at 1717 Enclave Court, the estate comes in at 15,000 square feet with six bedrooms and nine bathrooms, situated on a street that is known as “billionaire’s row” for its many mansions and high-priced properties.

The mansion, which recently benefitted from a major renovation project, features a plethora of amenities including a game room, wine closet, gilded doors, silk carpeting, a butler’s pantry, and a full wing dedicated to a live-in caretaker. There are also extensive security features, including infrared security cameras monitoring the grounds and a backup power system in case of power failure.

The all-cash deal, despite the discounted price, still qualifies as a successful transaction for Wynn; he had originally purchased the property in March 2018 for $13 million, represents a tidy profit for the businessman, even with the money he invested into renovations.

Famed magician David Copperfield owns a neighboring mansion, a 31,000-square-foot estate that he purchased in 2016 for $17.55 million, the highest price ever paid for a Las Vegas mansion at the time; due to Wynn’s estate selling for a discounted price, it failed to set a new record.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

Palms Apartments Las Vegas

Las Vegas Strip-Adjacent Palms Apartments Complex Sells for $33 Million to Undisclosed Buyer

LAS VEGAS, NV – The Palms Apartments, an apartment complex adjacent to the famed Las Vegas Strip, has been sold for $33 million, via an announcement last Wednesday by the real estate agents that brokered the deal.

The 200-unit apartment building, located at 713 East Sahara Avenue, was purchased from Miami-based Florida East Coast Realty, LLC by an undisclosed buyer on May 2 via a limited liability company based out of California, according to Clark County property records.

The garden-style Palms Apartments is a two-story building that offers units ranging in size from 700 to 1,500 square feet, and offer floor plans that have up to three bedrooms and two bathrooms, according to Thomas Dean of Coldwell Banker Commercial Premier, who represented the buyer.

“This older, vintage property provided my client with a great value-add opportunity in a very hot market,” he said. “They have an extensive Capex plan and are excited to add this to their Las Vegas portfolio.”

Las Vegas has been experiencing a large number of apartment building sales in 2022; Topaz and Viridian, two large apartment communities that are located adjacent to one another on West Viking Road, were announced as having been sold earlier in May in an off-market transaction worth a total of $129.7 million.

In addition, in March the 220-unit luxury apartment complex South Beach was bought from Griffin Capital Company by San Diego real estate firm Logan Capital Advisors for $97.5 million, and Fremont9, a ritzy apartment complex located in Las Vegas’ downtown area whose constriction was funded by late entrepreneur and former Zappos CEO Tony Hsieh, sold for $80 million and will soon be christened with a new name.

And finally, Jade, a 287-unit luxury apartment complex located near the Rio in the Las Vegas Valley, sold for $124.5 million in late January.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

MGM Growth Properties

VICI Properties Acquires Las Vegas’ MGM Growth Properties for $17.2 Billion; Now Owns Ten Resorts On Strip

LAS VEGAS, NV – Easily ranking as one of the largest real estate sales the Las Vegas Strip has ever seen, VICI Properties Inc. announced this week that they have completed their acquisition of Las Vegas’ MGM Growth Properties LLC for $17.2 billion, which has increased the buyer’s presence on the Strip in the form of multiple hotel resorts and casinos.

The deal, which was first announced in August 2021, results in VICI Properties acquiring a large amount of Las Vegas Boulevard-based, MGM Resorts-operated properties, including Mandalay Bay, MGM Grand, The Mirage, Park MGM, New York-New York, Luxor and Excalibur.

The acquisition also includes several other casinos located in other states, such as the MGM Grand Detroit and MGM National Harbor near Washington, D.C.

Overall, the merger will likely not result in any outward changes to the properties in question, as VICI will not be overseeing the day-to-day operations of the properties, but instead will merely be collecting rent from the management companies that do. While the deal includes VICI Properties assuming $5.7 billion of MGM’s debt, the company is also standing to receive over $1 billion in rent on an annual basis from their new acquisitions.

As a result of the purchase, VICI Properties is now one of the biggest property owners on Las Vegas Boulevard, with the firm now owning a whopping ten resorts on the Strip; this represents approximately 40,775 hotel rooms, 1.2 million square feet of casino space, and 5.9 million square feet of meeting and convention space.

“The addition of the MGP portfolio, together with the recent closing of our Venetian acquisition, elevates VICI to the top ranks of American four-wall [real estate investment trusts], making VICI a top-5 REIT by [earnings before interest, taxes, depreciation, and amortization] and a top-10 REIT by enterprise value,” said VICI CEO Edward Pitoniak. “We also become the largest owner of hotel and conference real estate in America, within what we believe is the superior transparency and integrity of the Triple Net Lease model.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

44 Hawk Ridge Dr

Number of March $1 Million-Plus Luxury Homes Sales in Las Vegas Sets All-Time Record

LAS VEGAS, NV – With the luxury home market in Las Vegas going strong and showing no signs of slowing down as affluent residents from neighboring states continue to transplant themselves into the region, the number of $1 million and higher homes sales in Southern Nevada in the month of March has set an all-time record.

According to reports, there were an incredible 196 homes in Las Vegas with an asking price of $1 million and higher sold in March, with the priciest being a residence in Summerlin that sold for $11.4 million and featured a $35,000 tub in its master bedroom.

The buyer of the expensive Summerlin home – located at 44 Hawk Ridge Drive, – has chosen to remain anonymous, driving a great deal of speculation about their identity. Construction of the residence commenced in 2018 and lasted until 2021, at which time it was listed on the market for $11.9 million, eventually closing for $11.4 million according to property records from Clark County.

The two-story home features an eight-car air-conditioned garage, swimming pool and the aforementioned $35,000 tub in the master bedroom. The home measures 10,609 square feet with four bedrooms and five-and-half baths.

No buyer’s agent was used, and the mysterious buyer utilized an out-of-state attorney for the transaction.

The home was previously owned by former Red Rock Resorts president Richard Haskins, who had passed away after a July 4, 2020 water accident in Michigan; Mike and Linda Huhn then bought the residence, which was still approximately 75 percent into its construction, and sank an additional $2 million into its completion before listing it.

At one point there was speculation that the buyer of the property was then-NFL Green Bay Packers wide receiver Davante Adams, who was said to be buying a home in Summerlin after being traded to the Las Vegas Raiders. However, in a local interview, Mike Huhn said that he was unaware of who had purchased his home, and could only say that the attorney representing them was located in New York.

It would be pretty cool if [Adams] did buy it,” Huhn said. “Whoever moved in, moved in a week after we left. We’re still curious and, hopefully, we’ll find out sooner than later.”

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.