Updated Dec 4, 2024
Blockchains Acquires 16-Acre Estate With 36.7K SF Mansion In Las Vegas For $25M
99 Spanish Gate Drive
$25,000,000
$680/SF
Building Size
36,724 SF
Asset Type
Single Family
Closing
Nov 29, 2023
About this deal
AI
Blockchains founder Jeffrey Berns purchased a 16-acre estate in Spring Valley, Las Vegas for $25 million. The estate, located at 99 Spanish Gate Drive, features a partially built 36,724-square-foot mansion. The property includes 10 buildings, multiple guest houses, and swimming pools. The centerpiece is the unfinished five-bedroom, eight-bathroom mansion, which offers various entertainment rooms such as billiards and music rooms, as well as a dedicated room for clothes and jewelry.
Summary of transaction details
- Property Type: Single Family
- Transaction Amount: $25,000,000
- Address: 99 Spanish Gate Drive, Las Vegas
- Market: Las Vegas
- Acreage: 15.9 acres
Jeffrey Berns, representing Blockchains, acquired the estate from seller Jefri Bolkiah. The buyer's representative in the deal was Michele Sullivan from Douglas Elliman, while the seller was represented by Ivan Sher from IS Luxury.
On the Map
$25,000,000
$680/SF
Single Family
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.63%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93