Casino developer Gary Primm has been trying for years to sell his Las Vegas compound, listing it for $21 million at one point.
Now he’s poised to finally unload the sprawling, amenity-packed estate.
Listed for $14.5 million, the 10-acre property drew a buyer — albeit at a steep discount — through an auction last month. The sale, for around $7 million, is expected to close Nov. 20, listing agent Kristen Routh-Silberman said.
She did not identify the buyer, saying only that the bid came from outside the United States.
“All parties are very happy,” said Routh-Silberman, of Synergy Sotheby’s International Realty.
The estate’s 15,000-square-foot main residence features 28 rooms, an elevator and a 5,000-bottle wine cellar. The compound includes horse stables, a golf driving range, a 20-car showroom and an underground shooting range.
The pool features waterfalls and a waterslide, as well as a grotto bar and one-bedroom guest suite built into a cave behind the waterfall.
Pop legend Michael Jackson was planning to buy the property, at 7000 Tomiyasu Lane, shortly before his death in 2009. He wanted to call it “Wonderland,” according to his broker.
Overall, luxury-home sales are rising this year in Southern Nevada. A total of 290 homes sold for more than $1 million apiece this year through Wednesday, up 10 percent from the same period last year, according to the Greater Las Vegas Association of Realtors, which reports data from its resale-heavy listing service.
Here’s a look at the most expensive home sales so far in 2015, as reported by the GLVAR. Sources for the data also include property listings and state and Clark County records.
7 Falcon View Court
Sales price: $11 million
Listing price: $17.5 million
Square feet: 14,464
Sale recorded: Aug. 18
Hotelier Sam Nazarian, who led the Sahara’s transformation into the SLS Las Vegas, bought this opulent mansion in 2012 for $8.35 million. He booked a 32 percent profit on the sale, despite falling far short of his asking price.
Built in 2009, the six-bedroom, nine-bathroom house sits on a 1.65-acre lot in the mansion-packed Ridges area of Summerlin, at the base of Las Vegas’ western mountains. The estate is packed with goodies, including a gym, massage room, game room, barber’s room, hot tub, ice plunge, wine cellar and 10-car garage, as well as an outdoor kitchen and half basketball court.
Nazarian opened the SLS last summer amid high expectations that the resort would re-energize the sleepy north Strip. However, the casino has been stuck in the red, and Nazarian stepped back from day-to-day operations late last year after he and Nevada casino regulators, in a public hearing, discussed his past cocaine use and his dealings with a man who allegedly extorted him.
Nazarian recently reached a deal to sell his 10 percent ownership stake in the SLS to San Francisco-based Stockbridge Capital Partners, which already owned 90 percent of the resort.
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19 Flying Cloud Lane
Sales price: $8.05 million
Listing price: $8.45 million
Square feet: 12,445
Sale recorded: March 18
This sleek, five-bedroom, nine-bathroom mansion in the Ridges was built in 2013. It has disappearing doors, a movie room, wine storage and, outside, a putting green and fire pit.
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9103 Alta Drive, unit #1801
Sales price: $7.7 million
Listing price: $8.99 million
Square feet: 15,691
Sale recorded: Feb. 5
A Canadian real estate executive and his wife bought this penthouse at One Queensridge Place — and it wasn’t their first purchase in the Summerlin-area condo towers.
Dean and Marie Hoffman’s three-story mansion-in-a-high-rise has five bedrooms and eight bathrooms. They bought it as a “grey shell,” meaning the interior wasn’t finished or furnished. Amenities for penthouses there include 24-hour concierge service and direct elevator access.
With about 220 homes in two towers, One Queensridge has ornate interior designs and valet parking, indoor and outdoor pools, a movie theater, and wine lockers in a climate-controlled cellar.
The Hoffmans bought a 5,844-square-foot condo there in 2013 for $3.3 million.
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9101 Alta Drive, unit #1801
Sales price: $6.03 million
Listing price: $9.99 million
Square feet: 15,691
Sale recorded: Aug. 14
This three-story penthouse at One Queensridge Place has five bedrooms, nine bathrooms, a gym, a spa and a gourmet kitchen with built-in Viking appliances. The HOA dues alone are $1,939 per month, and annual property taxes come to $42,097.
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3750 Las Vegas Blvd. South, unit #3904
Sales price: $5.4 million
Listing price: $5,599,888
Square feet: 5,628
Sale recorded: March 23
“Olympus has a new address in Las Vegas!”
So says the listing agent. Billed as the largest residential unit in the Mandarin Oriental, the three-bedroom, five-bathroom home came fully furnished and decorated. Prospective buyers had to show proof of funds before visiting.
The seller bought the condo in 2010 for about $6.5 million.
The Mandarin, a 47-story glass and steel tower on the Strip, is part of CityCenter, the $8.5 billion, 67-acre hotel-condo-retail project by MGM Resorts International and Dubai World.