The Story Behind The Record-Breaking Sale That Redefined Las Vegas Real Estate

ARTICLE FROM: FORBES

A lot of fantastic ideas have come to people over cocktail napkins and dinner meetings. And the sale of the Blue Heron designed custom home in the Henderson hillside MacDonald Highland community for $25 million is no different. Vegas Modern 001 was completed in April, listed for $28 million in early June and sold on June 25.

The deal set a new record for the most expensive residential sale in the history of Las Vegas real estate. However, the truth behind the historic transaction and what it means for luxury real estate in Las Vegas goes well beyond the sales price. Four business associates, friends with ambitious goals, spectacular dreams, and the tenacity to manifest an audacious vision no matter the obstacle sit at the heart of this story.

A tipping point for real estate

Ivan Sher, an agent with Berkshire Hathaway HomeServices Nevada in Las Vegas, held the previous record for the most expensive sale when he represented magician David Copperfield and his purchase of a $17.55 million home in 2016.

Sher, who has been selling real estate in Las Vegas for 21 years, says he is happy to see his record topple.

“It’s so wonderful that this happened. It really excites me. Granted, how wonderful could it have been if it was me who made the sale,” he says, laughing. “But my first thought when it happened was, ‘How fantastic is it that this is now a new benchmark for our city.’ I honestly believe that in the next 12 months, that number will be passed by leaps and bounds as well,” Sher says.

“I feel like this is such a great sale for Las Vegas. It’s a moment to be proud of. Our city needed something, and the sale almost topped the highest sale ever by 30 percent or 40 percent. We needed that as a launching platform to grow. And I think for not having an oceanfront property, it’s pretty remarkable that this home was over $25 million,” he adds.

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