Friday, June 15, 2012

Big Loser in Vegas: Estate Marked Down 75%

From the Wall Street Journal's Developments blog:
Las Vegas has seen its share of big losses. And that includes real estate.

Just take the case of a Vegas estate that originally came on the market in 2009 for $27 million. It’s now available for $6.9 million. Yes, that’s a nearly 75% discount.

High-end homes in Vegas tend to be huge, and this one is no exception. The 7.5-acre compound, about five miles from the Strip, includes an 18,000-square-foot main house, 2,000-square foot gym, a guest house and a 5,500-square-foot office building with a commercial kitchen and boardroom. The estate has a total of 10 bedrooms and 18 bathrooms, including a large master suite with a loft, beauty salon and massage room....MORE
Luxe Estates Collection
This Las Vegas estate, originally listed for $27 million, is now selling for $6.9 million.