100°F
weather icon Clear

Bitcoin burning a hole in your pocket? One option — $5.8M Summerlin home

Updated June 17, 2021 - 8:39 pm

A Las Vegas homeowner is accepting cryptocurrency in addition to other forms of payment for a $5.8-million home in The Ridges in Summerlin.

Referred to as a Bitcoin Buy, it’s part of a once isolated but growing trend across the country of homeowners accepting Bitcoin and other cryptocurrency.

Las Vegas’ top-selling luxury Realtor Ivan Sher and his Ivan Sher Group is handling the listing of the mansion. Sher said this is the first time his team has included cryptocurrency in its purchasing options. It’s not the first time, however, it’s been used in Las Vegas.

With more companies and individuals interested in investing in digital currency, it’s making its way more and more into the real estate industry, Sher said.

A number of luxury homes have already recorded million-dollar sales using cryptocurrency, including the sale of a Miami Beach penthouse that this month closed for $22.5 million in digital currency, the largest-known cryptocurrency real estate purchase to date, according to news reports in Florida.

“We’re excited to take a step forward and open up our listing to cryptocurrency holders,” Sher said. “There are a lot of advantages to buying a home with crypto. It’s an especially great opportunity for those with significant cryptocurrency profits to diversify their assets.”

The listing at 14 Drifting Shadow Way measures 7,813 square feet and sits on a half-acre lot.

Clark County records show the owner as 14 Drifting Shadow LLC, an entity that bought the two-story home in November for $2.74 million.

Realtor Madison Blau Benshimon, the agent handling the listing for the Ivan Sher Group, said it features “all-new modern, yet timeless finishings throughout.” It has an oversized luxury master suite with views of surrounding mountains and has five additional en suite bedrooms and seven bathrooms. The master bedroom features a spalike bathroom with an oversized shower and a soaking tub sitting on a bed of beach pebbles, she said.

On the main level, it has an open concept that “transitions seamlessly to outdoor spaces,” Benshimon said. Fourteen-foot pocketing doors and high ceilings fill the great room with natural light and bright ambiance, she said in the listing. There is wide-plank European Oak flooring throughout, custom white kitchen with quartzite countertops, Wolf appliances and wet bar.

The backyard is resort-style with a pool, spa, fire pit, putting green and a covered outdoor kitchen with a built-in stainless steel barbecue, stove top, refrigerator and storage space, Benshimon said.

A more-detailed story about the home will run June 27 in Real Estate Millions feature in the Las Vegas Reivew-Journal’s real estate section.

Don't miss the big stories. Like us on Facebook.
THE LATEST
 
Shaquille O’Neal buys Las Vegas estate for $2M

Basketball Hall of Famer and TNT NBA analyst Shaquille O’Neal, who has business ties in Las Vegas, has sold the home he bought in Southern Highlands pre-pandemic and turned around and paid nearly $2 million for a private 1-acre compound near Wayne Newton’s former estate in the southeast valley, according to the listing agent’s social media post.

Summit Club in Summerlin has sold most of its custom lots

Five years after it started closing deals, the Summit Club in Summerlin — home to singer Celine Dion, Vegas Golden Knights owner Bill Foley and Raiders owner Mark Davis — has sold all but five of its 150 custom lots and announced plans to construct 20 additional condominiums after 29 of its 31 ultra-luxury units sold out.

Lake Tahoe cabin sells for $4.1M

Lake Tahoe’s luxury real estate is moving at unprecedented levels. For the first time in his 18-year history of selling real estate, Mike Dunn, a luxury listing agent with Chase International, is witnessing luxury homes selling within days.

June Vegas luxury sizzles: $25M record-breaker; local BHHS goes corporate

While the luxury real estate market remains hot with some of the top sales in Las Vegas history in June and annual marks about to be shattered, the activity continues to pick up with more brokerages trading hands.

 
Showcase home sells for $25M, smashing all-time Las Vegas record

A showcase home built by a luxury builder in the Henderson hillside development MacDonald Highlands has shattered the all-time Las Vegas sales record by going for $25 million.

Digital currency can purchase $5.8M Summerlin home

A Las Vegas couple is accepting cryptocurrency to expand the pool of buyers for their $5.8 million home in The Ridges in Summerlin — taking advantage of the growing use of digital currency as part of real estate transactions in Southern Nevada, real estate industry executives say.

Portfolio of 22 Las Vegas homes offered for $7.8M

Candi Liumai of Berkshire Hathaway HomeServices Nevada Properties has listed a portfolio of 22 homes throughout Las Vegas for a combined $7.8 million.

Record condo sale in a record year for high-rise market

In what’s likely to be a record-breaking year in the existing high-rise condominium market, it’s only fitting that Las Vegas set a record for the highest price ever paid for a condo at $16.25 million.