The off-Strip Lucky Dragon, which opened less than two years ago, has fully shut down and is scheduled to come up for sale at a foreclosure auction Oct. 30. The property is now surrounded by chain-link fencing.
Construction is gaining speed in Las Vegas, but if you want to see a glaring difference between today’s market and that of the mid-2000s bubble, just look at developer Jorge Pérez.
When MGM Resorts International announced this spring that it was selling the Mandarin Oriental, it left out an important part: the buyers.
When a Buddhist group recently bought property near the Strip and unveiled plans to build a temple, more than a few people likely did a double-take.
Like practically everywhere else in the Las Vegas Valley, the south Strip has a long track record of developers pitching massive projects and never following through.
As house hunters and real estate agents know, the inventory of homes for sale has dropped fast in Las Vegas.
When you’re as big as The Blackstone Group, shelling out hundreds of millions of dollars can be pretty normal stuff.
Las Vegas is one of the most popular places in America to flip houses, even though investors can earn a lot more money elsewhere. And slowly, it seems, they’re catching on to that.