D
uring Q2 the high‑rise condo market reached its second‑highest average sales price in history, and the third quarter began with three headline‑making deals. In August, a Waldorf Astoria penthouse sold for $8.8 million, Elaine Wynn’s Park Towers unit fetched $8.25 million, and a Summit Club condo closed at $7 million.
**Waldorf Astoria – $8.8 million**
The 41st‑floor corner penthouse spans 3,980 sq ft with three bedrooms and four baths. Closed on Aug. 29 in an all‑cash transaction, the unit was represented by Frank Napoli of Berkshire Hathaway Home Services, who handled both buyer and seller. Napoli highlighted the rare corner location, panoramic Strip views, and the ability to watch the Formula One race from the roof. He described the sophisticated en‑suite bedrooms as “comfort and relaxation” spaces and praised the open floor plan for entertaining. The $8.8 million sale is the second‑highest in the building, after a $9.5 million sale in January 2024, also listed by Napoli. In Q2, Waldorf Astoria recorded four sales with an average price of $2.69 million ($1,406 per sq ft), all of which were record‑breaking for their floor plans.
**Elaine Wynn – $8.25 million**
Elaine Wynn, the late casino executive and philanthropist who passed in April, owned two condos at Park Towers. Her 17th‑floor unit, Unit 1704, covers nearly 5,000 sq ft, includes three bedrooms, five baths, and a large office. Anthony Spiegel of Palm Drive Powered by Lusso represented both sides. Spiegel praised the unit as “the apex of inspired aesthetics, sophistication and unbridled quality,” noting its design by renowned interior designer Michael S. Smith. He called it a “highly curated sanctuary” with “finest finishes” and “virtually irreplaceable” status. Spiegel argued that the sale is an outlier, “recession‑proof” and not explainable by broader economic conditions.
**Summit Club – $7 million**
The Summit Club condo that sold for $7 million measures 1,931 sq ft, with three bedrooms and three baths. Kevin Marsh of Summit Club Realty listed the top‑floor corner unit, which features a wrap‑around terrace, mountain views to the south and west, a great room with floor‑to‑ceiling sliding glass doors, a wet bar, and a fireplace. The primary suite opens onto the terrace and includes a soaking tub, rainfall shower, and walk‑in closet. A secondary bedroom is located off the entry, with its own powder room and separate laundry room. Anthony Renaud of Summit Club Realty represented the buyer.
**Additional Q3 Summit Club Sale – $6.25 million**
Another Summit Club condo sold in July for $6.25 million. The 1,891‑sq ft unit, located on the first level of the Club Tower, offers sweeping views of the Las Vegas Valley and proximity to the clubhouse. The great room blends a lounge and dining area, with sliding pocket doors opening onto a spacious terrace. It includes a wet bar, fireplace, and a primary suite with floor‑to‑ceiling sliding glass doors onto the terrace, a deep soaking tub, double vanity, and walk‑in closet. A second bedroom with an en‑suite bath and walk‑in closet is near the entry, and the unit also has a separate laundry room and powder room. Marsh represented both buyer and seller.
**Market Overview**
Applied Analysis reported a Q2 average sales price of $749,854, second only to $816,717 in Q1 2024, with a price per sq ft of $552 versus $599 in Q1 2024. Q1 2025 averaged $611,771 ($510 per sq ft). Sales volume fell to 145 in Q2, the lowest since 134 in Q3 2020, while Q1 2025 saw 148 sales. Napoli attributed the dip to limited inventory—out of 225 Waldorf Astoria units, only two or three remain on the market—allowing sellers to command a premium.
**Other Notable Sales**
- **MGM Signature**: 32 sales in Q1, average $370,281.
- **Palms Place & Turnberry Place**: 13 sales each; averages $622,299 and $1.07 million, respectively.
- **Turnberry Towers**: 11 sales, average $667,682.
- **Veer Towers**: 10 sales, average $615,150.
- **Vdarra (CityCenter)**: 3 sales, highest price per sq ft at $1,415, average $813,300.
- **Panorama Towers**: 7 sales, average $772,000 ($500 per sq ft).
- **Trump Las Vegas**: 6 sales, average $417,317 ($562 per sq ft).
- **Park Towers**: 1 sale in Q2, $1.2 million ($412 per sq ft).
