real estate:

Want the Palms Place rooftop penthouse? You can snag it for $38 million

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Businessman Phil Maloof is trying to sell his 59th-floor penthouse at the Palms Place tower for $38 million.

Phil Maloof is ready to part ways with his flashy rooftop party pad at the Palms.

But he’s not going cheap: He wants $38 million.

Maloof, whose tycoon family built the Palms and for years owned the Sacramento Kings NBA team, which they sold last year for a reported $347 million, listed the mansion-in-a-high-rise this month.

The home, with 7,100 square feet of living space and 27,000 square feet total, appears to be the most expensive residence listed for sale in the valley.

It’s stuffed with extravagance and seems designed to both hold wild parties and to shame other luxury homeowners, as if to say, “And you thought you were wealthy ...”

Penthouse at the Palms

Businessman Phil Maloof is trying to sell his 59th-floor penthouse at the Palms Place tower for $38 million. Launch slideshow »

The “Founder’s Penthouse” takes up the entire 59th floor of the Palms Place tower, on Flamingo Road west of Interstate 15. It boasts 35 flat-screen TVs, an outdoor movie theater, a 20-person Jacuzzi, a DJ booth, an outdoor stainless steel kitchen, 30-foot ceilings, a 30-foot fireplace, a 30-foot projection screen and a possible helicopter landing pad.

It also has a full gym, a master-bedroom moon roof, a custom gazebo and private elevator access — not to mention an original Dalí painting and an original Picasso.

And if you ask the seller, it’s one of the best homes in the world.

Buyers are “in a unique position to capitalize on a completely custom property, unchallenged and (unparalleled) by anything else in the Western Hemisphere,” co-listing agent Lisa Sutton of Synergy Sotheby’s International Realty said in a news release.

(As if the listing needed more flash, Sutton is a model and beauty queen, having won the Miss Nevada United States pageant this year.)

Maloof, a former college quarterback and New Mexico state senator who helps run his family’s music, television and events business, is not the only clan member trying to sell a luxury home in Las Vegas.

His brother Gavin wants to sell his 13,489-square-foot mansion in Southern Highlands for $10.5 million. It has six bedrooms, eight bathrooms, an elevator, a movie theater, a curtained room with a massage table, and a 10-car garage.

Gavin Maloof bought the house at 27 Eagles Landing Lane in 2007 for $10 million and has been trying to sell it on and off since 2009, property records show.

Meanwhile, perhaps the only other local home that has recently been listed at a higher price than Phil Maloof’s penthouse is crooner Wayne Newton’s former estate. But the property, at Pecos and Sunset roads, does not appear to be up for sale anymore.

The current owners listed the estate — now called Sunset Springs Ranch but formerly known as Casa de Shenandoah — in September for $70 million. They reduced it to $48 million by late October but have since pulled it off the market, listings show.

Tags: Business, News
Real Estate

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