Breaking the old record more than 13 years after it was set is more symbolic than anything: It underscores just how high the market had soared, how badly it crashed, and how long the road to recovery has been.
Eli Segall’s Real Estate Insider column appears Saturdays in the Business section.
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New York investors have spent billions on Las Vegas real estate in recent years, including a recently announced a half-billion-dollar deal to purchase the Rio from Caesars Entertainment Corp.
The New York financial giant, said to be eyeing deal for Bellagio and MGM Grand, is a major buyer of Las Vegas real estate, including The Cosmopolitan of Las Vegas and the World Market Center.
The median sales price of a newly built single-family house in Southern Nevada was around $389,450 in July, compared with $295,000 for a previously owned one, a gap of almost $94,450, according to data from Las Vegas-based Home Builders Research.
MGM Resorts International announced this week that the site of the 2017 mass shooting would be used for parking until a planned community facility is built. The property’s previous owner, Circus Circus Enterprises, had used it for employee parking in the 1990s.
The Sahara name has returned to Las Vegas Boulevard – along with new hopes for a rejuvenation of the struggling north end of the Strip.
A 56-year-old former low-budget-movie producer, Doumani said this week he is scheduled to break ground in May 2020 and finish construction in 2023.
Las Vegas’ wheeler-dealer, boom-and-bust real estate market is almost never boring. But even by Vegas standards, a sale that closed a year ago this week was especially head-turning.
If someone buys The Howard Hughes Corp., it would put the Las Vegas Aviators, its ballpark, the Downtown Summerlin mall and thousands of acres of suburban Las Vegas land in new hands.
The Fontainebleau, soaring 60-plus stories above Las Vegas Boulevard, went bankrupt 10 years ago on June 9, 2009.
State lawmakers approved a bill in 2015 — a decade after Las Vegas’ wild building spree — that raised barriers to pursuing lawsuits alleging shoddyconstruction.
You can never rule out another housing crash,but just because the market has cooled off doesn’t necessarily mean it’s in the early stages of a collapse.
Builders sold 302 homes in Las Vegas’ largest master-planned community in the three months ending March 31, down 26 percent from the same period last year.