Category: Las Vegas

15 May

Most Significant Sales in Las Vegas for 2017

Wouldn’t it be nice to come to a house suspended 40 feet about the entrance lobby, fully lit and complete with modern amenities?  Or perhaps you just want to come home knowing that it will provide you the seclusion from the bustles of city life. These are just some of the features of the luxurious houses sold in Las Vegas this year.

One large sale of the year was closed on March 8 in Queensridge.  The house was sold at whopping $6.2 million and is located at 9501 Orient Express Court. The new owner will surely enjoy the luxurious amenities that come with the property including an indoor basketball court, two pools, two spas, and a river. The house was listed on the market for 392 days before it was sold. The house has five-bedroom, 10-bathroom, and three stories.

The real estate agent for the house reprised the history why the house was sold.  Tom Love said that the house was sold to his clients Michelle and Kenneth Black for $14 million in 2006. However, the property met some difficulty after the closing of the Queensridge and the Badlands Golf Course.

It can be recalled that the 205-acre Badlands Golf Course was closed at the end of 2016 when the Las Vegas City Council favored the development of 435 condominiums owned by EHB Cos. The construction of the condominiums at the corner of Alta Drive and Rampart Boulevard started in mid-February. EHB originally intended to create 720 for rent condos in that location. The council is also expected to favor the development of 61 custom home lots encompassing 34 acres of land.

However, despite being sold way below its original price, the transaction was the second largest in 2017 in the Las Vegas luxury homes category. Its price was just a little below a sale at Mandarin Oriental which is priced at $6, 240,000 for a three-bedroom unit. The house in Mandarin Oriental was closed the same day as that in Queensridge.

The house was once dragged into controversy as its previous owner, Michael Galardi, who also owns a strip club named Cheetah’s and Jaguars, lead an investigation named Operation G-String in 2000.  The investigation saw three former Clark County commissioners behind bars while Galardi lost his strip clubs.

Even if there is no certainty in the future of the house in the Queensridge because of controversial developments happening in the neighborhood, Love said that the buyer of the house took chances on the price drop and hoped that the situation will get better eventually.