Brett Torino and Paul Kanavos have already teamed up to build retail projects in the heart of the casino corridor.
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The recent decline in rates “has been large,” but homebuyer sentiment “remains low with no major positive reaction in purchase demand.”
A recent deal at almost $6 million per-acre didn’t even come close to a sale up the street.
Billionaire developer Jorge Pérez ventured to Las Vegas during the mid-2000 bubble and sold his project sites at a big premium.
Over the past several months, some signs that Southern Nevada’s market was tapping the brakes have come and gone.
Gov. Steve Sisolak last week cited one reason in particular why he let construction keep going in Nevada: jobs.
A month after he resigned from his casino company, billionaire Steve Wynn bought a suburban mansion for $13 million — the most expensive home sale of 2018 in Las Vegas.