A home for an active family (or a sports team) comes to market, the south end of the Strip prepares for an action-packed summer, and the Palms debuts some scenery changes of its own.
Sports Footage “Unique” is one of the most overused, and misused, words in real estate. But in the case of the newly listed $25 million southwest Las Vegas mansion known as Casa Paradiso, it applies. “There are no other homes I know of that have an indoor roller hockey rink or a baseball diamond,” says broker Frank Napoli of The Napoli Group. There’s also a water slide, by the way, not to mention around 18,000 square feet of living space, more than 4,500 square feet of airconditioned garage space, and 6,500 square feet of covered patio and porte cochere on five-plus acres of land. In addition to the hockey setup, the property’s 14,000-plus square- foot recreational building has a glass-enclosed racquetball court, two batting cages, a golf simulator, and a locker area, as well as its own tricked-out kitchen and bathrooms.
Completed in 2006, Casa Paradiso is on the market for the first time. It was created by a builder for his own family, but now that his children have grown up, it’s time to find a new owner. “Even though it’s a large square footage and lots of land, everything is proportioned properly,” says Napoli of the seven-bedroom home and sports compound. “It’s unlike anything I’ve ever seen.” The doors and windows were imported from Austria. The stone was reclaimed from European streets and refinished. There’s Venetian plaster, exposed beams, solid-wood cabinetry, and the “highest level of Crestron” smarthome technology, Napoli adds. And, of course, there’s the luxury of enjoying it all while your children play in a separate building.
The southern end of the Strip—home to a new Shake Shack and future home of a major arena—is where the action is. And now Penn National Gaming, known for its slot machine and racing facilities across the United States, has purchased the Tropicana casino resort for $360 million. The deal comes after the property completed $200 million of upgrades, including a South Beach–themed renovation of its nearly 1,500 guest rooms. Located on 35 acres at the busy intersection of Tropicana Avenue and Las Vegas Boulevard, the Tropicana also boasts a 50,000-square-foot casino, a 1,200-seat performance venue, and more than 100,000 square feet of exhibition and meeting space. You can expect the highly trafficked area to get even more popular when MGM Resorts International and the entertainment behemoth AEG open their 650,000- square-foot, 20,000-seat arena next year.
While the Hooters Casino Hotel’s future is unclear now that the property has changed ownership, fans of wings and scantily clad waitresses have a new party palace at the Palms Casino Resort. The Hooters at the Palms pool is the world’s largest, with over 15,200 square feet of space, enough for more than 500 guests. This Hooters includes a poolside bar, a two-story dining room, and nearly 50 TVs. As for the Hooters Casino Hotel, Canyon Capital Advisors sold it for about $70 million to New York–based Trinity Hotel Investors, which has invested in hospitality properties around the country and in Europe.