Long-Mothballed Las Vegas Strip Casino-Hotel Sold for $600M
A long-mothballed, unfinished casino-hotel on the Las Vegas Strip sold for $600 million on Tuesday, eight years after construction halted on the 63-story tower amid the recession.
August 30, 2017 at 05:00 PM
2 minute read
A long-mothballed, unfinished casino-hotel on the Las Vegas Strip sold for $600 million on Tuesday, eight years after construction halted on the 63-story tower amid the recession.
A partnership led by New York-based real estate company Witkoff bought the Fontainebleau Las Vegas, a hulking bluish tower that was 70 percent finished when construction stopped and has since served as a training site for firefighters.
“(The property) is one of the best physical assets in the country, which is one of the reasons we were attracted to it,” Witkoff's chairman and CEO Steve Witkoff said in a statement.
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