With Carson Kitchen, Donut Bar and other eateries nearby, developer J Dapper has bought a downtown office building and plans to bring more restaurants to the area.
Eli Segall
Reporter: Real estate
Email: esegall@reviewjournal.com
Phone: (702) 383-0342
X: @eli_segall
Eli Segall joined the Review-Journal in August 2016 after covering real estate and other business topics for four years at the Las Vegas Sun. He also worked for the Silicon Valley/San Jose Business Journal, The Associated Press and other news groups. Segall has a bachelor’s in political science from the University of Michigan and a master’s in journalism from the University of Maryland. His awards include 2017 Story of the Year from the Nevada Press Association.
Locally, rental prices for houses were up 5.7 percent in July from the same month last year, compared to 3 percent year-over-year nationally, housing tracker CoreLogic reported this week.
Less than two years after it opened, the Lucky Dragon’s hotel tower is set to close and the property is again headed toward a foreclosure sale.
Lehman Brothers issued at least $1.1 billion in loans between fall 2004 and early 2008 for a dozen deals in the Las Vegas area. Some loans were bigger than others, but the properties all ran into problems.
The apartments can be small and the rents aren’t cheap, but dozens of tenants have moved to the new Fremont9 complex downtown, a member of the development team said Tuesday.
Several months after its casino building closed, the Lucky Dragon’s hotel tower could soon be shuttered too.
Paula Yakubik may not be a developer or broker, but she generated plenty of business from Las Vegas’ real estate industry during the boom years.
An interior decorator and real estate investor bought Ted Binion’s former home in March 2017 for $820,000.
Motel 6, at 6585 Speedway Blvd. off Interstate 15, opened for business Sept. 1, said John Mulkey, a partner with developer and owner CCM Hospitality.
The Westin, 160 E. Flamingo Road, was purchased by hotel operator Highgate, according to property records, which indicate that investment firm Cerberus Capital Management also partnered on the deal.
Las Vegas has a higher rate of deeply-late borrowers than the country at large, but that’s tumbled as well, as Southern Nevada continues to shake off its problems from the the recession.
Las Vegas flippers on average sold houses in the second quarter for $54,600 above what they bought them for, producing a gross return on investment of 27.6 percent.
In both places, a rapid acceleration in the mid-2000s was followed by a devastating crash, and the current recovery is nowhere close to recouping all its losses.
Kingman isn’t roaring with growth today, and despite Las Vegas’ fast-rising home prices, it seems unlikely that Kingman will become a commuter town anytime soon.
Las Vegas house prices last month were well above year-ago levels, but inventory rose as the market shows some signs of easing up on the gas pedal.
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