Las Vegas’s Most Expensive Penthouse!

Las Vegas’s Most Expensive Penthouse!

Las Vegas's Most Expensive Penthouse!

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As billionaires continue to move their money into real estate, mansions are surfacing on the market with price tags higher than have ever been seen before, some over the $100 million mark. Location is important to these investors for eventual resale or if they plan on living in their purchase. They pick island paradises to escape to their front yard beach for a blissful nap, glass walled penthouses on top of the tallest high rises overlooking Central Park for respectable drama and many like to buy in the Los Angeles hills to be surrounded by celebrities. But when a billionaire wants to have a buffet of continuous entertainment at his fingertips, he heads for Las Vegas. Today one of the most popular tourist destinations in the world, the city promotes itself as The Entertainment Capital of the World but also has a growing retirement and family population.

The year 1931 was significant when the state legalized casino gambling and reduced the residency limit for divorce to six weeks. But it wasn’t until after World War II that Mafia members Meyer Lansky and Bugsy Siegel recognized the possibilities. Their timing was excellent because Cuba was the only place Americans could go to gamble. By the time they finished building the first casino, The Flamingo, Fidel Castro’s regime had taken over Cuba, shutting down the casinos which sent the American gamblers to Las Vegas. Though the Mafia assassinated Siegel for skimming money from various sources, Lansky turned The Flamingo into a success by 1946. That attracted crime families from all over the country who built multiple casino resorts, dividing the profits equally among them. All Mafia interests were booted from Las Vegas when Howard Hughes moved there in 1966 and managed to get the law changed to forbid corporations from buying interest in hotels, casinos and resorts. He was intent on eliminating the criminal element and by the end of the 1960s had bought 17 casino resorts and the mob’s Las Vegas days were over.

The most expensive property in Las Vegas has now been put on the market by celebrity and business mogul Phil Maloof. Taking over four years to build and selling with a Lamborghini Huracan, a Dali and a Picasso painting, the Founders Penthouse takes up the entire 27,000-square-foot 59th floor of Palms Place Tower. It is the highest residence in the city with 360-degree views of the Las Vegas valley.

The main interior of 7,100 square feet opens to another 19,900 square feet of outdoor living and entertaining space. The three-bedroom, six-bath home has an office, formal rooms, complete gym and comes fully furnished. Each bedroom has terrace access with ceiling-to-floor glass doors and a moonroof in the master that also has its own sitting room. Many special features include an outdoor movie theater with 30-foot projection screen, 30-foot ceilings in the interior, a private elevator, outdoor complete stainless steel kitchen, whole home remote control including window coverings, 35 television screens and a commercial grade kitchen. The exterior roof is helipad capable. There is also a 20 person hot tub and a DJ booth. For more information.

Las Vegas’s most expensive penthouse at $38 million includes all furnishings, a 2015 Lamborghini Huracan plus one original Dali painting and one original Picasso painting.

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