In one of the most expensive home sales in southern Nevada, a suburban Las Vegas mansion sold for nearly $19 million.
A luxury home in The Summit Club, a wealthy enclave in Summerlin, sold last week for $18.95 million, property records show.
Spanning 9,427 square feet, the five-bedroom, eight-bathroom home at 11091 Stardust Drive features wood-beam ceilings, a game room, a golf simulator and a master bedroom with a “spa-like bathroom” that features with an outdoor shower, as per to list materials.
It also features a “secluded private apartment” with its own stairs, elevator, living room, bedroom, bathroom, and laundry, the listing materials say.
In all, this marks the highest-priced home sale of the year in Las Vegas and appears to be the second most expensive in history locally, said Ivan Sher, luxury home specialist at Berkshire Hathaway HomeServices Nevada Properties, who represented the seller in the deal.
He also said it was a cash purchase.
High-end market ‘solid’
Luxury homes comprise a fraction of all home sales in the Las Vegas Valley, given their high asking prices, and this slice of the market heated up last year along with the rest of the industry.
Lately, rising mortgage rates have led to fewer home sales overall in Southern Nevada and across the country. Sher, however, said stock market swings can have a bigger impact on luxury homes than interest rates, which he says have little or no effect on high-priced home sales.
Sher said the luxury market in general “has been strong.” As he commented to a customer, when he goes from 500 mph to 350 mph, he “feels like he’s standing still, but the reality is he’s never gone 350 in his life,” Sher said.
The sellers of the Stardust house, Jonathan and Nicole Cronstedt, bought it last October for $18.75 million, according to Clark County property records.
The house quickly went on the market for millions more, as it was listed in November for $23 million. Its price fell to $21 million in February, according to listing history on Zillow.
Sher said it was a second home for vendors, who stayed there on occasion and “loved” Las Vegas.
The Cronstedts could not be reached for comment Monday.
Property records show the buyer was Kevin Elder, who could not be reached for comment.
Kevin Marsh of Summit Club Realty, who Zillow says represented the buyer in the deal, referred the Review-Journal to Samantha Flury, director of marketing and communications for The Summit Club.
Flury said it is “our policy not to comment on transactions for the privacy of our owners and members.”
The Summit Club, on Town Center Drive between Tropicana Avenue and Flamingo Road, spans 555 acres and features a golf course, custom-built homes and, as its website declares, “24-hour security.”
Before this sale, the most expensive home purchase of the year in Southern Nevada belonged to British businessman Simon Dolan, who bought the Summerlin mansion from former casino developer Steve Wynn for $17.5 million about a month ago.
The luxurious six-bedroom home features a private movie theater, climate-controlled wine cellar, glass staircases, silk drapes and rugs, and marble pillars, depending on the materials listed.
The most expensive home sale ever recorded in the valley was in June 2021 when Anthony Hsieh, founder of mortgage firm LoanDepot, bought a newly built mansion in the Henderson Hills for $25 million.
At the time, the seller, luxury builder Tyler Jones of Blue Heron, confirmed that Hsieh leased the home from the developer, allowing the company to continue using it as a “show” home.
The three-story, 15,000-square-foot house came with two saltwater infinity pools, a glass wall for wine storage, a sky lounge, a DJ booth, seven fire features, and an elevator, listing the materials listed above. .