Developers Brett Torino and Paul Kanavos, who built Harmon Corner and are working on the 63 retail center, would become the owners of property near the Convention Center.
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Work crews are scheduled to break ground this month on a 324-unit rental project several miles south of the Strip.
Builders sold 782 homes in Las Vegas’ largest master-planned community last year, down 52 percent from 2021, according to separate reports last week from two consulting firms.
Brett Mufson, president of project developer Jeffrey Soffer’s firm Fontainebleau Development, is now top boss of the towering north Strip resort.
The deal called for Vici Properties to pay around $1.27 billion in cash to financial giant Blackstone.
A formerly quiet, sprawling tract of land near the Strip is becoming a Formula One racetrack and the owner of a rental property next door is looking to sell for a hefty sum.
Workers recently tore down a 1960s-era Travelodge on Las Vegas Boulevard as the Houston billionaire pushes ahead with plans for a towering upscale resort.
The median sales price of previously owned single-family homes fell in July, as Southern Nevada sees fewer sales, growing inventory and more price cuts.
A lawsuit has been filed claiming the property “exemplifies the death of the American mall in under-serviced areas.”
Las Vegas real estate investor Steve Siegel is perhaps best known for his portfolio of low-priced apartment complexes bearing his name, but now he is the Strip’s newest landowner.