Summit Club penthouse hits market for record $25M

A penthouse in the clubhouse at The Summit Club in Summerlin has hit the market in what could be a record-setting $25 million sale, which would beat the previous mark by nearly $9 million.

The record for highest-price condo was set in 2021 for $16.25 million at The Martin.

The five-bedroom, five bath-unit measures 4,929 square feet with floor-to-ceiling windows that provide a connection to the outside. There’s a balcony that wraps around three sides of the penthouse with views of the mountains, a Tom Fazio-designed golf course and the Strip. The balcony includes a spa, a small pool and outdoor shower. The balcony overlooks The Summit Club’s swimming pool.

Listing agent Ivan Sher with IS Luxury said the penthouse is designed for those who demand the best and want an elevated living in luxury at the resort community with its concierge services.

“The Summit has transformed luxury and property values in the city,” Sher said. “If you look at The Ridges, which is a sister community next door, you are looking at the high-end being around $1,300 to $1,400 a square foot. We have had homes that have sold in The Summit for close to $3,000 square foot. You have condos selling in the mid-$3,000s and some arguably the low $4,000s. And your built product, which is non-custom homes, is selling for $3,000 to $4,000 a foot. It’s really doubled the price per foot. We’ve never seen prices like this ever.”

Ascaya in Henderson falls in the $1,400 to $1,500 square foot range, while MacDonald Highlands is similar, Sher said. The midrise condos at The Summit, which is a separate building from the clubhouse, go for about $3,500 a square foot on the resale market.

“Our unit above the clubhouse is the only true penthouse,” Sher said. “And at nighttime the views are incredible.”

The clubhouse has three stories with the pool, gym and children’s activities center on the first floor, and the second level is the valet where the restaurant, bar and lounge is located.

“People come here because it’s extremely private with a lot of security,” Sher said. “They have a strict policy on who can come in and who can’t. It’s highly amenitized.”

The midrise condo building has people enter their units from the outdoors while the condos at the clubhouse have interior entry.

“The views are epic,” Sher said while staring through the floor-to-ceiling windows. “This outdoor living space is what captures it for me. You have your pool and hot tub out here. It is really resort-style living. You can go down to your restaurant. There’s nothing like it. It’s the best of the best of the best.”

The great room features a kitchen with a pantry, wine cellar, dining area and family room all in one.

There are two primary bedrooms, including one with Strip views that overlook the clubhouse pool. It has its own separate balcony.

The owner put it on the market because he has multiple properties, including a home in The Summit Club. He bought a lot and built his home and loved it so much he decided to sell the condo, Sher said.

“He customized it before he bought it,” Sher said of the penthouse. “This is one of one. There’s nothing like it.”

One of the five bedrooms is being used as an office and study, and another is used for a theater and television room.

The biggest bedroom on the other side of the penthouse where the clubhouse pool has views of the mountains.

Sher said the penthouse is geared for someone who has multiple homes and “wants the best of the best. It could be an athlete or someone who owns sports teams or somebody recognizes that (developer) Discovery Land (Co.) and The Summit are as good as it gets and redefines wealth and values.

“It’s the best of that kind of living if you’re looking for a lock-and-leave option. The big thing is the amenities are right here. There’s nothing you need to do. You take the elevator up and down, and that’s it. There’s no walking or driving. They have a grocery store, a bar, lounge spaces, the pool, fitness center and spa and restaurant. It’s like a high-end hotel.The wealthy like convenience. At concerts, they have sections blocked off for them. They have vehicles to pick them up and drop them off at the airport. They stock your refrigerator and clean your house.”

The property has attracted out-of-state buyers with several Las Vegas residents, Sher said.

“It’s for a couple. It’s for somebody who wants their family to have access to the best, and they don’t want the upkeep of a home and yard,” Sher said.