42°F
weather icon Cloudy

Realtor says selling town is tough work

Updated February 20, 2018 - 12:50 pm

It’s not very often that a Realtor lands the opportunity to sell a whole town, but when Tony Castrignano’s friends and Henderson neighbors wanted to sell Nipton, California, they turned to him.

Gerald Freeman bought the town in 1985 and with his wife, Roxanne Lang, managed it on-site, then later remotely from Henderson. As Freeman’s health began to fail, they put the town on the market for $5 million in 2015. He passed away in 2016, a year before American Green bought it with plans to make it a cannabis-friendly, energy-independent destination.

It was a unique opportunity for him, said Castrignano, who is the owner and broker of Sky Mesa Realty, a commercial real estate company. Many of his colleagues doubted it would ever sell, he said.

“Nipton is so unique. Many other ghost towns are for sale in Nevada. People have approached us with them over the years, but none that have viable businesses and working solar power or are the gateway to a national conservation area.”

The listing attracted buyers representing entities from as far away as Israel and South Africa, with ideas to turn it into everything from a vertical plant farm, a college campus, a spa resort or a survivalist camp. None made the right offer, Castrignano said. It was always Freeman’s hope that Nipton evolve into a sustainable, organic community rather than being turned into a theme park.

In a 2016 interview with Real Estate Millions, Lang and Freeman said they hoped to turn the site over to someone “with a lot of energy” and “who’s committed to sustainability of the human race.”

Castrignano said the family is happy with the buyer’s intentions and plans.

“They’re going to expand upon what’s there, to do more of the same things,” he said.

He would not go out of his way to take on another town sale, Castrignano said, because of the amount of work involved.

“I took this on mainly because Nipton is so special and the strong bond I had with the sellers. I really wanted to get it done for them.”

THE LATEST
‘Great Christmas Light Fight’ winner turns talent into business

It’s been two years since Bryan Watkins and his creative team won ABC’s “Great Christmas Light Fight” championship. The immersive, over-the-top Vegas-styled display gained national attention, significantly impacting Watkins’ life.

Ascaya home hits market for $10.3M

“From the second you walk through the door, we wanted to capture the view,” homeowner Dominick Morea said. “That was the main thing. I wanted to see the view from every room.”

$11.25 M sale in The Ridges leads November luxury sales

A home in The Ridges sold for $11.25 million in November, leading the way as the top sale of the month dominated by high-level sales in Summerlin.

Turnberry Place penthouse lists for $2.69M

In a city defined by luxury, a newly listed Turnberry Place penthouse offers an elevated living experience for $2,699,000.

KNB Associates demonstration home to be unveiled at NAHB

Currently under construction, KNB will unveil the 10,459-square-foot two-story property to hundreds of industry professionals during the National Association of Home Builders (NAHB) 2025 International Builder’s Show (IBS), held Feb. 25-27. Though the demonstration home is not officially part of IBS, private tours are for invited guests attending the show.

Historic Shakespeare Ranch lists for 188M

The historic Shakespeare Ranch, on the east shore of Lake Tahoe, is listed for $188 million through Chase International. Buyers can purchase the entire ranch or take an a la carte approach and acquire their choice of lakefront residences and homesites starting at $9.95 million.

$15M MacDonald Highlands sale leads October

A $15 million sale in MacDonald Highlands topped the list for the most expensive luxury home closing in October — a month that saw an IndyCar driver set up shop in Las Vegas and former Vegas Golden Knight Jonathan Marchessault sell his Summerlin property.

Two Las Vegas high-rise projects surpass more than $600M in sales

Las Vegas’s first two high-rise projects since before the Great Recession have surpassed more than $600 million in sales combined as construction commences at the end of the year.

High-rise sales are down; prices are up

The Las Vegas high-rise market is on track to record its fewest sales since the 2020 pandemic while setting a record for the price tag buyers are paying for their units.

Irwin Molasky’s former downtown mansion lists for $10M

The former home of the late Irwin Molasky, a prominent Las Vegas developer, has been listed for $10 million. The remodeled mansion is located at 2323 Pinto Lane in historic downtown Las Vegas.