November 10, 2023 - 1:28 pm
A palatial estate owned by the prince of Brunei on the market for $25 million has found a buyer, and a MacDonald Highlands home that set the all-time Las Vegas sales record in 2021 for $25 million is on the market for $34 million — a deliberate strategy to lure in buyers in town for the F1 race on the Strip.
The Multiple Listing Service of the Las Vegas Realtors association showed Prince Jefri Bolkiah’s 16-acre estate at 99 Spanish Gate Drive in Spanish Trail is under contract.
The looming sales price hasn’t been disclosed, and Ivan Sher, the owner of IS Luxury who has the listing, declined to comment.
The unfinished compound measuring more than 110,000 square feet once housed the late music superstar Michael Jackson, who moved into the property in 2007.
If sold for $25 million, that would tie the record in June 2021 when billionaire Anthony Hsieh, the founder and chairman of LoanDepot, a California-based non-bank consumer lender of home mortgages, bought the newly constructed Henderson hillside home constructed by Blue Heron in MacDonald Highlands.
Listing agent Kristen Routh Silberman with Douglas Elliman of Las Vegas, who represented Blue Heron in the original sale of the MacDonald Highlands home in 2021, represents Hsieh in this transaction.
The three-story home measures 15,000 square feet with seven rooms that can serve as bedrooms, nine baths and a seven-car garage. It sits on 1.26 acres.
The backyard has two infinity saltwater pools and a spa, outdoor kitchen and bar and seven fire features. The property has a sky lounge and deck with 360-degree views. There’s a covered outdoor living room between the two pools with breezeways and outdoor access from every room.
The home has a great room surrounded by water, glass wine cellar, game room, library loft, office, sky suite, primary bedroom with spa bath and private outdoor area. The kitchen has a separate catering kitchen. There is a 13.5-foot LED media wall.
Routh-Silberman said Hsieh is selling because Blue Heron is designing a new home for him that is even larger and more expensive.
Hsieh’s current home will be known more for its “architectural significance” than its price, Routh-Silberman said. “It’s a very complex house. I think this house becomes iconic for the state of Nevada for modern architecture.”
As for its price, Routh-Silberman said it couldn’t be built today for $34 million.
“I know $25 million was a hot deal and $34 million is a hot deal,” Routh-Silberman said. “MacDonald Highlands is running out of lots like this, and a lot like this is $8 million, now. You can’t replicate it again. There’s a house right behind us that’s probably worth more than $34 million.”
The home went on the market Tuesday, and Routh-Silberman said the timing was deliberate ahead of the Las Vegas Grand Prix.
“We put it on right now because we know the wealth of the world is going to be in town for F1, and we wanted this house on the market before the race and before the Super Bowl (in February),” Routh-Silberman said.
Routh-Silberman said she has an F1 driver interested in buying the house along with F1 fans coming to Las Vegas from Asia, Saudi Arabia and the East Coast.
“Anthony is a little early putting it on the market because he’s in the design process (with his next home), but this house is the F1 of Vegas luxury homes, so we put it on now so we can get ahead of this market,” Routh-Silberman said. “We don’t know what will happen because we’ve never had this race in town, but I know it’s a mistake not to have this house on the market with people coming.”
Prince of Brunei estate
The Spanish Trail home, which has been called “an unfinished masterpiece” in the listing, started construction in 1996 and is about 90 percent complete.
The 110,320 square-foot compound with 10 interconnected buildings overlooks the golf course with multiple guest residences and pools. In the listing, IS Luxury said the sprawling estate nestled with a Spanish Trail enclave is “a vision of opulence that has taken shape that transcends the realm of imagination and is poised to redefine luxury living in the heart of Las Vegas.”
The centerpiece of the estate is the main house, which the listing calls “an architectural marvel spanning an impressive 37,466 square feet and crafted with an unwavering commitment to perfection.”
The main house has five bedrooms and eight baths.
“A grand great room with soaring ceilings and exquisite detailing welcomes you with open arms,” the listing said. “The grand dining hall, an opulent stage for culinary mastery, invites you to host extravagant feasts. The music room resonates with the melodies of life, while the entertainment room promises unforgettable evenings of laughter and entertainment. For those who appreciate the noble sport of billiards, a dedicated billiard room awaits, adorned with all the trappings of leisure. A chef/catering kitchen, complete with a chef’s office, ensures every culinary masterpiece is executed with precision. Not to be forgotten, a one-bedroom, one-bath butler quarters stands ready to attend to your every need.”
Beyond the main house, the estate has a 47,367-square-foot athletic club/pool house. There are an indoor badminton court and a square court for squash. It has a hotel-sized spa, with a gym, men’s and women’s locker rooms and spa areas.
The building also has an indoor pool, bowling alley and nightclub. There also is a guest suite with 10 baths. Two guest homes, each spanning 4,544 square feet, have four bedrooms and three baths in each, accompanied by private pool areas. Two smaller villas, each offering 2,713 square feet feature three bedrooms and two baths.
A separate study pavilion building, spanning 1,715 square feet, provides a quiet sanctuary, Sher said in his listing.
A carriage house measuring 3,323 square feet showcases an eight-car garage and additional living space, including two bedrooms and three baths. The estate also has 30 spaces of uncovered parking. The estate has caretaker quarters with seven bedrooms and nine baths, along with an eight-car garage.
The landscaped grounds has resort-style amenities with a tennis court and two grand lawns for gatherings and celebrations.
The compound is located in the Spanish Trail Country Club where there’s 27 holes of golf. It’s on the western- most portion of Spanish Trail and at the corner of Durango Drive and Hacienda Avenue.
October luxury home sales
The most expensive sale in October on the MLS was a Routh-Silberman listing of a Blue Heron new home in MacDonald Highlands in Henderson that went for $11 million. She was also the buyer’s agent. The one-story home measures 9,725 square feet of livable space with five bedrooms, seven baths and a four-car garage. It sits on 0.65 acres.
Some 8,144 square feet are indoors, and 1,611 square feet are outdoors. The home has a separate primary wing retreat with a spa bath. The home has a movie theater, game and entertainment room, office, bar, indoor-outdoor dining and wine wall and private lanais. The outdoor features include a pool, fire lounge, kitchen and living room.
The buyers are a couple from the Bay Area.
Only one other home sold in excess of $5 million in October. That was on Misty Peaks Court in The Ridges in Summerlin, which sold for $5.22 million.
Sher, the owner of IS Luxury, was the listing agent. Nicole Tomlinson of IS Luxury was the buyer’s agent.
The two-story five-bedroom home measures 8,940 square feet. It has eight baths and a five-car garage. The lot is .051 acres.
The main level has a primary suite with spa-like amenities and a private fireplace. The home has a movie theater, office, wine room and outdoor kitchen. The backyard has a pool and spa.
There were 114 sales of $1 million and higher in October, according to Forrest Barbee, corporate broker for Berkshire Hathaway Home Services. That tops the 106 in October 2022 and is just below the 116 in 2021. There were 95 in 2020.