New Sahara boss sets up in Las Vegas with $8.5 MILLIONS DOLLARS mansion
Sam Nazarian wants Las Vegans to know he's not just another transplant from Los Angeles.
The founder and chief executive officer of SBE Entertainment said he's committed not only to refurbishing the Sahara, which he purchased in 2007, but to the community itself. That's why he bought a home in Las Vegas.
Not just any home, of course.
Nazarian closed escrow this week on an $8.5 million, 14,000-square-foot mansion in the exclusive Promontory Pointe neighborhood at The Ridges, a high-end subdivision of the master-planned Summerlin community.
It's triple-gated, with a fourth gate to Nazarian's home at 7 Falcon View Court, so call before you stop by.
"I've been coming to Las Vegas for seven years," said Nazarian, who also owns a luxury condo at Park Towers in Hughes Center. "For me, the exciting thing is being in The Ridges and how it gives you a perspective of the Strip and the idea that Las Vegas can be a great place for your family and children."
Built by Dan Coletti of Sun West Homes and featured in the 2009 Parade of Homes, the home was listed for $18 million, broker Tom Love said. That's probably what it was worth at the height of the market, he said.
There are only 11 lots in Promontory Pointe - each one acre - and two of the lots were combined for this home. It's the most expensive house sold in Las Vegas in more than a year, Love said.
"After looking at a few homes, Sam requested that I just show him the best home in Las Vegas," the real estate broker said. "Due to the $18 million asking price, I was reluctant to show him the home. I drove him by the home and the curb appeal and privacy intrigued him enough to have me set the appointment. In the end the home practically sold itself."
Nazarian said he felt an "emotional connectivity" at The Ridges. As a homebuilder himself, he could appreciate the time and energy Coletti put into building the house.
"When you look at the quality of construction, this is one of the best houses I've seen. It's a house that has human characteristics to it. It was made with a lot of love," he said.
The home features a "disappearing" wall that opens up to a spectacular view of the Strip. It has a state-of-the-art home theater, wine cellar, gourmet kitchen and 30-car garage.
Nazarian, who owns hotels and nightclubs in Los Angeles and Miami, plans to start renovating the Sahara in November or December, rebranding it as SLS Las Vegas. He lined up $300 million in financing this year to renovate the property as a 1,600-room boutique hotel.
