May’s $35M Summit Club sale sets all-time Las Vegas record

A Summit Club home sale in May set the all-time Las Vegas record when it closed for $35 million, topping the 2023 sale of its neighbor Celine Dion’s home for $30 million.

The top six sales of 2024 through Tuesday were in the Summerlin uber-luxury resort community, including a $29.25 million sale recorded Dec. 20 in The Summit Club — a home sold by Canadian businessman Andew Nikou, CEO of OpenGate Capital, a global private buyout firm. The buyer was listed as Bradford Watterson, according to Clark County records. This marks the third-highest sale in recorded history in Las Vegas.

1. As for the No. 1 sale in history, the two-story home on the 1.5-acre estate on Summit Club Drive measures 11,427 square feet with five bedrooms, seven baths and a six-car garage It also has a pool with a waterfall and a spa.

The seller was Patrick and Andrea Ramsey, who acquired the lot in 2016 for $2.5 million and built a custom home in 2017. The buyers were business owners Ronald and Janis Soto of Southern California.

Anthony Spiegel, who was with IS Luxury at the time and is now with Lusso Residential Sales, represented both the buyer and seller.

The sale not only set the record for $35 million but also set a record with a price per square foot of $3,063.

Spiegel called it interesting that the two top sales in Las Vegas single-family home history are adjacent to one another. He attributed that to The Summit Club itself, which sets itself apart in Las Vegas.

“What gives any real estate real value is the location,” Spiegel said. “At some point, there’s only so much replacement value that can be attributed to the value of the home. If you look at the mega properties around the world, they trade at a premium to replacement value. That premium is generally a location premium. What makes it a $35 million home is that it’s in The Summit, a Discovery Land project and the only membership club in the city. It’s not just a neighborhood. It’s a community that people want to belong to, and there’s a cost that’s not only found in the membership fees but in the real estate.”

Spiegel described the home as high-quality desert contemporary. It has high-end construction finishes, a sophisticated design and a large footprint.

“You are talking about a 1.5-acre lot, 12,000-square-foot home, high-quality desert contemporary construction, a massive infinity pool and all of the things you would expect to be in an extraordinary home,” Spiegel said. “It’s there.”

Homes cost about $1,500 a square foot to build in The Summit today. A home like this would conservatively cost $18 million to $20 million to build, while land costs up to $10 million an acre, he said.

“You are looking at a home trading around replacement cost,” Spiegel said, adding that there is a lack of inventory. “That’s what people need to understand. They might think $35 million is a crazy price, but if you look at construction and land costs, you are close to replacement costs. The premium is a function of being in a community that has the highest demand, the only membership community in the greater Las Vegas area.”

Summit Club membership fees are $250,000 with annual fees of $110,000. Homeowner association fees are $30,000 a year.

The concierge community has nearly 276 home sites on 555 sites.That includes 176 custom lots and 100 developer products such as bungalows, villas and condos.

Spiegel, who was also the buyer’s agent on the No. 2 transaction of the year, put out a statement about being involved with the No. 1 transaction, not only in 2024 but in Las Vegas history.

“Real estate valuations are simply a reflection of the demand for this great city, which has blossomed into a true multifaceted and comprehensive destination,” Spiegel said. “As sophistication and wealth descend upon Vegas, you will not only continue to see valuations rise, but more importantly the manifestation of a world-class city that enriches and inspires residents and tourists, alike.”

2. The No. 2 sale is on Capstone Point Court, closing Dec. 20. Kamran Zand of Luxury Estate International, along with Spiegel, was the buyer’s agent.

The two-story home sits on 0.8 acres and measures 10,094 square feet with seven bedrooms. It has 10 baths, a den and movie theater and loft in addition to what’s dubbed “wellness quarters.”

The listing put out to Realtors this year called it a Greg Faulkner design and was developed by R.W. Bubee & Associates. Clark County records said it was built in 2021. The home has 2,000 square feet of outdoor living spaces.

Both Realtors said they signed a nondisclosure agreement and couldn’t comment on the transaction.

3. The No. 3 sale was in March on Vegas Hills Court in The Summit Club, going for $22 million. It was done off-market and recently posted to the Multiple Listing Service without any listing information.

The two-story Richard Luke-designed home built in 2019 measures 10,295 square feet with seven bedrooms, eight baths and a three-car garage. It sits on 0.63 acres and has a pool.

The buyer was Deprecated LLC based in Mercer Island, Washington. CMC Living Trust was the seller, according to public documents. The Summit Club served as the listing agent while Kristen Routh-Silberman with Douglas Elliman of Nevada was the buyer’s agent.

“It has gorgeous Red Rock and Strip views and is on its own private cul-de-sac,” Routh-Silberman said. “The finish outs are beautiful. It has a beautiful wine cellar, movie theater, gym and guest quarters. There’s an open glass wine cellar and bar in between the kitchen and dining room. It has a great yard and pool. It’s a showstopper, and one of the prettiest houses you’ll see.”

4. The No. 4 sale of the year was also in The Summit Club at $19.7 million on Witchcraft Court. It was sold in March.

The Blue Heron-designed home completed in late 2021 sits on 1.16 acres along the 10th hole of the resort community’s championship course. The one-story main home measures 7,727 square feet with four bedrooms, four baths, gym, a flex room and four-car garage. There’s a two-story casita of 2,100 square feet with a private entrance. It has five bedrooms and three full baths, one half bath and a two-car garage.

The property has two zero-edge pools, two spas, one of which is private and accessible from the primary suite. There are three retractable flat-screen televisions, an outdoor kitchen and pizza oven.

The great room is considered the hub of the home, which can access other areas of the home from a flex room, secondary bedrooms, pool, gym, casita and elevator to a rooftop deck.

Lillie Shines with Coldwell Banker Premier was the listing agent, and Randy Char of Las Vegas Sotheby’s International represented the buyers, Witchcraft Court LLC, according to Clark County property records.

5. A January sale in The Summit Club was No. 5 on the list at $19 million.

Insight Tech Holdings NV LLC acquired The Summit Club home from Chambord Revocable Trust with Michael L. and M’Lissa M Gravelle listed as trustees, according to public documents. Avi Dan-Goor of Douglas Elliman of Nevada represented the buyer, and Ivan Sher, owner of IS Luxury, represented the sellers.

Built in 2020 and renovated in 2021, the home on Stardust Drive measures 7,908 square feet and sits on 1.37 acres. It has four bedrooms and 4½ baths and a pool.

Sher said that when people pull into the driveway and face the house, they’re looking at unobstructed views of the Strip. It’s an ultra-modern design that he called “stunning.”

Dan-Goor said it has some of the best Strip views he has ever seen from a living room.

“I can see what an international buyer would be attracted to,” Dan-Goor said. “From the living room, it’s like a Las Vegas postcard. It’s a complete wow factor as you walk in the door.”

6. No. 6 on the list was a sale in The Summit Club on Discovery View Court in July for $15.75 million.

Built in 2020 by Discovery Builders and renovated in 2021, it measures 5,770 square feet with five bedrooms, five full baths and two half baths. It sits on 0.34 acres in the Club Village neighborhood with views of the 15th and 16th holes and within walking distance to the clubhouse and pickleball complex.

The two-story home has a three-car garage and views of the Strip and an outdoor entertainment space.

Kevin Marsh with Summit Club Realty was the listing agent, and David Mastroianni with Summit Club Realty was the buyer’s agent. The seller was Bickett of Ponte Vedra Beach, Florida, and the buyer was Rajiv Batra, according to Clark County records.

Marsh said the front of the home is nestled down an entry path, creating added privacy for the homeowner and guests. The great room blends into the open kitchen and dining area, with sliding glass doors opening to the terrace on two sides for indoor-outdoor living area.

The floor plan features a dual-primary bedroom option, with one on the main floor and one on the second floor, large walk-in closets, luxurious primary baths with soaking tubs and rainfall showers, according to the listing. Two additional guest rooms are located on the main floor, each with their own bath.

On the second level, there’s an entertainment room, wet bar, wine storage room, golf simulator room with its own full bath and ample terrace space, the listing said.

The backyard has a covered patio in addition to an oversized spa and a separate above ground hot tub.

7. The No. 7 sale completed in October in MacDonald Highlands went for $15 million. The home on Dragon Crest Avenue in MacDonald Highlands’ Dragon’s Reserve resides in a double-gated private cul-de-sac that has views of the Strip and mountains. Built in 2021 by Blue Heron and sitting on 0.59 acres, the three-story home measures 10,037 square feet with seven bedrooms, eight baths and a four-car garage.

It has 28-foot ceilings, indoor water features, heated floors and a chef’s kitchen. The primary bedroom has an outdoor shower, cabana and spa. It also features an infinity-edge pool, spa and outdoor kitchen.

Natalia Harris Las Vegas Sotheby’s International was the listing agent, and Daniel Schweer of Wall Street Realty was the buyer’s agent.

The sellers were aviators Stephanie Goetz and Endre Holen, and their home was bought with cash by entrepreneur brothers Joshua and David Walters, according to Clark County records. The home will serve as the base for the Las Vegas-based fintech startup for the brothers, relocating from Florida.

With high ceilings and grand, open spaces, the Walters brothers said they were instantly captivated by the home’s contemporary design.

Goetz and Holen said they designed the property as a sanctuary blending their love for aviation and modern architecture.

“When we built this home, we wanted to capture the essence of flight without making it thematic,” Goetz said.

“It’s thrilling to know that the Walters brothers feel that same connection.” Holen added, “We’ve poured our passion for innovation into every corner, and we know they’ll love and appreciate every detail as much as we have.”

8. The No. 8 sale went for $12.5 million for a two-story home on Painted Feather Way in The Ridges in Summerlin. It was sold in April.

Built in 2009, it measures 10,346 square feet with five bedrooms and eight baths. It has a six-car garage. The two-story home sits on 0.59 acres.

Madison Blau with IS Luxury was the listing agent, while Carla Redmond with Queensridge Realty was the buyer’s agent.

Blau said the home “stands as a beacon of luxury and sophistication. This property has undergone a comprehensive transformation, merging a transitional coastal flair with the pinnacle of modern living. Designed to captivate and inspire, this exquisite home redefines the essence of high-end Las Vegas living.”

Blau said at the heart of the home is the chef’s kitchen, equipped with state-of-the-art appliances and featuring a double island. The home also has a main-floor primary suite and four en suite bedrooms. The split-level backyard features an infinity-edge pool and a full outdoor kitchen.

“The expansive turf area offers a versatile space for relaxation and play, all while surrounded by breathtaking views of mountains, the pristine golf course and the Las Vegas Strip,” Blau said.

9. The No. 9 sale was in The Ridges Summerlin and went for $11.25 million in November.

Built in 2015, the 7,249-square-foot two-story home sits on 0.89 acres and has seven bedrooms, eight baths and a seven-car garage.

The home on Hawk Ridge Drive was listed by Jillian Batchelor of Real Broker LLC, and Zar Zanganeh with The Agency Las Vegas was the buyer’s agent.

Batchelor’s listing said the home on nearly an acre “of meticulously manicured land,” is the “pinnacle of luxury living with unrivaled panoramic views of the iconic Strip.” She called the home “an architectural masterpiece, a symphony of opulence and craftsmanship.”

There’s an entry courtyard with water features and a sculpture. It has two garages, which Batchelor called a haven for auto enthusiasts.

Other features include a gourmet kitchen, great room illuminated by an abundance of light, office, versatile loft space and movie theater. There’s also an 1,800-square-foot guesthouse. There’s a pool and spa with fountains and multiple fire features.

The buyer is tech entrepreneur James Reiser. California civil attorney Eric Schroeder was the seller, according to Clark County records.

10. The No. 10 sale came in March and was for $11 million on Sunset Strip in Ascaya in Henderson.

The new two-story home measures 8,780 square feet and has five bedrooms, six baths and four-car garage. It sits on 0.5 acres.

Routh-Silberman with Douglas Elliman of Nevada represented the buyer and seller.

The home has an open indoor-outdoor concept with “dramatic architectural lines and gorgeous finishes,” Routh-Silberman said. It has a movie theater, lounge, upstairs loft and game room, indoor/outdoor bar, glass wine cellar, office, gym and dining room.

The home has an elevator, four fireplaces, pocket doors and auto shades. There’s an infinity pool and spa with fire features and built-in outdoor kitchen.

11. The No. 11 sale knocked out of the top 10 was a home on Boulderback Drive in Ascaya that sold in May for $10.7 million.

It measures 8,798 square feet with four bedrooms, seven baths and a four-car garage.

Built in 2022 and designed by architect Eric Strain, it sits on 0.52 acres. It has a private courtyard, entrance with a water feature, media room with six televisions, bar, gym and game room.

The kitchen has a prep kitchen, and there’s an outdoor kitchen with bar seating. The backyard has a pool, spa and fire lounge.

Routh-Silberman served as the seller’s agent, and Gavin Ernstone, broker owner of Simply Vegas, was the buyer’s agent.

12. The No. 12 sale was a single-story home on Crested Cloud Way in The Ridges for $10.68 million. It measures 8,575 square feet and has five bedrooms, seven baths and a five-car garage with a lift. It sits on 0.76 acres.

Sher held the listing and also represented the buyers, Jim and Dawn Wetterling. The sellers were Crested Cloud LLC.

Sher described the home as having natural finishes with wood flooring and exposed ceiling beams that create an inviting atmosphere.