A look at the 5 most expensive Las Vegas condo sales of 2018 — PHOTOS
Las Vegas’ housing market might be known for its endless subdivisions of cookie-cutter houses, but there are also several options for high-rise living.
The valley’s residential towers are mostly on or near the Strip and downtown, and there would have been a lot more if all went according to plan last decade. During the mid-2000s bubble, there were so many high-rise ideas floating around that supporters dubbed it the “Manhattanization” of Las Vegas.
Most of the planned towers were never built, and ones that opened were hit with litigation, plunging sales and other problems after the economy crashed. In a few cases, failed projects were abandoned as giant holes in the ground.
Towers account for a fraction of Southern Nevada’s home sales. A total of 917 high-rise units traded hands this year through Tuesday, compared with almost 2,300 single-family houses in November alone, according to the Greater Las Vegas Association of Realtors.
Here is a look at the five-most-expensive high-rise condo sales of the year, as reported by the GLVAR. Most were in the Waldorf Astoria Las Vegas, formerly the Mandarin Oriental, and one of the buyers was Switch founder Rob Roy.
1. $5.5 million: Turnberry Place
2777 Paradise Road, Unit 3801
Sale closed Aug. 31
Spanning 8,205 square feet, this “custom penthouse” is “a masterpiece of its kind,” a listing says. It features a “grand entry foyer,” limestone fireplace and “sophisticated office.” The “sumptuous master suite” includes “custom mosaics in the showers,” and the condo’s second floor has an “entertainment pavilion” with a lounge and bar.
“While gazing out at the glittering Las Vegas skyline, you can relax in your private roof-top swimming pool,” the listing says.
2. $4.6 million: Waldorf Astoria
3750 Las Vegas Blvd. South, unit 4504
Sale closed Dec. 5
This 2,756-square-foot condo features two master bedroom suites and living and dining rooms, a listing says.
Luxury Estates International founder Kamran Zand, who was not involved in the deal, said it was the most expensive condo resale ever in Nevada as measured by price per square foot — $1,669.
According to Zand, the previous record was for neighboring unit 4503, which, he said, he sold in 2016 for $1,633 per square foot.
3. $4.3 million: Waldorf Astoria
Unit 2403
Sale closed Feb. 26
“When space and Strip views are a priority,” a listing says, this “highly sought-after” corner unit “is a must have!”
The two-bedroom, 2,998-square-foot condo has new custom cabinets, built-in entertainment centers and electronic blinds.
4. $4.15 million: One Queensridge Place
9103 Alta Drive, Unit 1501
Sale closed June 13
Spanning 5,844 square feet, this suburban Las Vegas penthouse is “truly the ultimate imagining of comfort (and) opulence,” a listing says. It features a butler’s pantry, office, den, four-car garage and views of the valley “from every terrace.”
5. (tie) $3.6 million: Waldorf Astoria
Unit 4502
Sale closed Dec. 7
This 2,247-square-foot unit was fully furnished and custom designed with high-end finishes, a listing says.
5. (tie) $3.6 million: Waldorf Astoria
Unit 4102
Sale closed Oct. 5
Roy, chairman and CEO of data-center operator Switch, bought this 2,247-square-foot condo, property records show.
“From The Moment You Arrive, You Know You Are In For Something Special!” a listing says.
The condo is an investment property for Roy, not his residence, said Adam Kramer, executive vice president of strategy at Switch. He added that Roy owns “numerous” investment properties around the valley.
Contact Eli Segall at esegall@reviewjournal.com or 702-383-0342. Follow @eli_segall on Twitter.
