LAS VEGAS – Shapiro & Sher Group, one of the country’s top-selling luxury real estate teams, celebrated the opening of its new high-rise division with another record-breaking sale. Ivan Sher represented the seller in the sale of the entire 34th floor of Panorama Tower II at 4575 Dean Martin Drive in Las Vegas. The grey shell unit, which includes 14,176 square feet plus a 2,200 square foot buildable terrace, sold for $5.75 million.
This is the second highest sale of a high rise unit in 2016 and the largest sale price for a grey shell (unfinished) unit in Las Vegas. Sher also negotiated the sale of the highest priced high rise sale in Las Vegas for $8 million in 2013.
“This was a great way to kick off the launch of our new high rise division,” said Sher. “In fact, we had the launch party in this unit, which sold just a few days later. We do a tremendous amount of business in the Las Vegas high rise market and have an experienced team that specializes in this market.”
This year alone, Shapiro & Sher Group represented both the buyer and seller of the most expensive single family home ever sold in the history of Las Vegas at $17.55 million. They also listed the most expensive residence available in the city at $30 million. In 2015 the firm sold $242 million in Southern Nevada luxury real estate and expects 2016 to far exceed that number.
“We’re definitely seeing a resurgence of interest in the Las Vegas high-rise market,” said Sher. “And those that are the best in their class or really unique are selling more quickly. This particular unit was very unique. It has the most expansive Strip and city views of any high-rise unit in Las Vegas and it comprises the entire top floor of Panorama Tower II. It has floor-to-ceiling windows and wrap-around terraces that give it 360 degree views of the Strip and entire Las Vegas valley. It is also completely unfinished. This gives the new owners abundant opportunities to design it exactly the way they want it.”
“What is so spectacular about this unit is its true panoramic view of the Las Vegas Strip at night,” said Renee Smith of Assemblage Studio in Las Vegas. Smith was project manager/lead architect of a design team that created an interior design for the unit. “Most other high-rise units on the Strip either look one way or the other. This one has views of the entire Strip and city. The grey shell also allows you to do whatever you want with it. We found a great advantage was its ceiling height at over 13 feet. Other units are generally limited in ceiling heights, but this one allowed for more flexibility with lighting and mechanical functions.”
Smith said her studio estimates the cost to design and build the unit’s interior between $7-10 million.
“It has ample possibilities for its design, and I believe will be one of the most spectacular high-rise units in the country when it is completed,” said Sher.
Shapiro & Sher Group is an affiliate of Berkshire Hathaway HomeServices Nevada Properties, the country’s largest independently owned Berkshire Hathaway HomeServices franchise. For more information, visit www.bhhsnv.com.
About Berkshire Hathaway Homeservices Nevada Properties
Berkshire Hathaway HomeServices Nevada Properties is a part of Americana Holdings, which also includes Berkshire Hathaway HomeServices Arizona Properties and Berkshire Hathaway HomeServices California Properties. The firms are leaders in their respective markets with 23 offices and 2,000 agents, comprising the largest independently owned Berkshire Hathaway HomeServices franchise in the world. Combined, the companies sold $3.1 billion in real estate in 2015.
In 2014, Berkshire Hathaway HomeServices was named “Real Estate Agency Brand of the Year” by consumers in the 26th annual Harris Poll EquiTrend® study of the largest real estate networks. Berkshire Hathaway HomeServices has 54,000 agents in 1,600 offices around the world. For more information, visit www.bhhsnv.com or call 702-796-7777.