Updated June 28, 2022 - 7:33 pm
In one of the most expensive home sales ever in Southern Nevada, a suburban Las Vegas mansion has sold for nearly $19 million.
A luxury house in The Summit Club, a wealthy enclave in Summerlin, traded hands last week for $18.95 million, property records show.
Spanning 9,427 square feet, the five-bedroom, eight-bathroom home at 11091 Stardust Drive boasts wood-beam ceilings, a game room, a golf simulator and a main bedroom with a “spa-like bathroom” that features an outdoor shower, according to listing materials.
It also features a “secluded private apartment” with its own stairs, elevator, living room, bedroom, bathroom and laundry, the listing materials say.
All told, this marks the highest-priced home sale of the year in Las Vegas and appears to be the second-most expensive ever locally, said Ivan Sher, a luxury-home specialist with Berkshire Hathaway HomeServices Nevada Properties, who represented the seller in the deal.
He also said it was a cash purchase.
High-end market ‘solid’
Luxury homes comprise a fraction of all home sales in the Las Vegas Valley, given their big asking prices, and this slice of the market heated up last year along with the rest of the industry.
Lately, rising mortgage rates have sparked fewer home sales overall in Southern Nevada and around the country. Sher, however, said stock-market swings can have a bigger impact on luxury housing than interest rates, which he contends have little to no effect on sales of high-priced homes.
Sher said the luxury market overall “has been solid.” As he discussed with a client, when you go from 500 mph to 350 mph, “it feels like you’re standing still, but the reality is you’ve never gone 350 in your life,” Sher said.
The sellers of the Stardust house, Jonathan and Nicole Cronstedt, purchased it last October for $18.75 million, according to Clark County property records.
The house quickly went up for sale for millions more, as it was listed in November at $23 million. Its price dropped to $21 million in February, according to listing history on Zillow.
Sher said it was a second home for the sellers, who stayed there on occasion and “loved” Las Vegas.
The Cronstedts could not be reached for comment Monday.
Property records show the buyer was Kevin Elder, who could not be reached for comment.
Kevin Marsh of Summit Club Realty, who according to Zillow represented the buyer in the deal, referred the Review-Journal to Samantha Flury, director of marketing and communication at The Summit Club.
Flury said it is “our policy to not comment on transactions for the privacy of our owners and members.”
The Summit Club, off Town Center Drive between Tropicana Avenue and Flamingo Road, spans 555 acres and features a golf course, custom-built homes and, its website declares, “round-the-clock security.”
Before this sale, the most expensive home purchase of the year in Southern Nevada belonged to British businessman Simon Dolan, who bought former casino developer Steve Wynn’s Summerlin mansion for $17.5 million about a month ago.
The lavish six-bedroom house features a private movie room, a climate-controlled wine cellar, crystal staircase, silk drapery and carpets, and marble pillars, according to listing materials.
The priciest home sale ever recorded in the valley was in June 2021 when Anthony Hsieh, founder of mortgage firm LoanDepot, bought a newly built mansion in the Henderson foothills for $25 million.
At the time, the seller, luxury builder Tyler Jones of Blue Heron, confirmed that Hsieh leased the house back to the developer, allowing the firm to keep using it as a “show” home.
The three-story, 15,000-square-foot home came with two infinity saltwater pools, a glass wine-storage wall, a sky lounge, a DJ booth, seven fire features, and an elevator, listing materials previously stated.