Judge approves firm to sell Wayne Newton’s ranch estate
The Casa de Shenandoah, the long-time ranch estate of entertainer Wayne Newton, will be listed for sale by the Las Vegas brokerage firm Nathan & Associates.
The retention of the firm was approved Monday by U.S. Bankruptcy Court Judge Bruce Markell.
Besides the ranch, which covers 40 acres at the intersection of Pecos and Sunset roads, 13-plus acres on the north side of Sunset that were meant for a museum and other parts of a planned theme park based on Newton's career are also for sale.
No asking price has been set and it has not been determined whether to sell it as a whole or in pieces. Bankruptcy papers put the value at $50.8 million.
Nathan, which has been on the job for a month, would receive a $25,000 marketing fee and a $!00,000 commission if an insider buys it, or $100,000 plus a 3 percent commission if an outsider owns it.
CSD LLC owns the property and has dropped plans to build the Newton attraction. CSD includes three ownership groups.
Still to be decided are potentially knotty legal issues such as what will happen with the lease Newton and his wife, Kathleen, have on their mansion.
Contact reporter Tim O'Reiley at
toreiley@reviewjournal.com or 702-387-5290.
