December 13, 2019
In the past few months, the DK Las Vegas portfolio of condominiums, which includes One Las Vegas on Las Vegas Boulevard South, Juhl and The Ogden in downtown Las Vegas, has experienced unprecedented sales activity.
Two of the highest-priced residences in the entire portfolio, both at One Las Vegas, were sold, the most expensive home to date at Juhl — a loft-style community that spans an entire city block — was sold.
At One Las Vegas, a 2,857-square-foot, 19th-floor condo sold for $1,175,900, the equivalent of $411 per square foot. A second 19th-floor One Las Vegas residence with 2,857 square feet recently sold for $1,099,000, or $385 per square foot.
At Juhl, a 1,735-square-foot two-level penthouse sold for $749,900, or $432 per square foot.
Uri Vaknin, whose KRE Capital, through a partnership with Dune Real Estate Partners, acquired the properties as DK Las Vegas in 2013, said: “The sales speak to a consistent demand to maintain or upgrade to a level of luxury while right-sizing your lifestyle.”
The reasons for the portfolio’s success vary by property, he said, “but sales at all communities are uplifted by the universal appeal of a Las Vegas address created by the city’s quality of life, access to world-class dining, entertainment and shopping — and now, professional sports — and home prices that are still affordable relative to other markets, especially California, where a majority of our buyers come from. Buyers are trading in their California homes for a better quality of life in Las Vegas and a rich condo lifestyle created by an abundance of amenities,” Vaknin said.