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99 Spanish Gate Drive

Blockchains Acquires 16-Acre Estate With 36.7K SF Mansion In Las Vegas For $25M
SOLDSingle Family

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

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.

Players

Ivan Sher

IS Luxury

Broker

$150.3M

vol

4 deals

Broker
B
BlockchainsBuyer

Las Vegas Single Family Market Snapshot

Boundary boundary · Single Family · Sale transactions

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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