Las Vegas Fontainebleau

[Richard at Remax]

Fontainebleau goes on the market — asking price $650M

Fontainebleau goes on the market ? asking price $650M | Las Vegas Review-Journal

Couldn't find an appropriate thread for this so I started a new one. Anyone who has been to Vegas has seen this thing sit empty for a while now.

From people who I have talked to out there they are split on whether it should be torn down or refurbished. I had also heard that most of the electric wiring is already out of code and will need a complete gut job. Also, it has been a bird sanctuary for 7 years as well and that all floors will have to be decontaminated.

Its really ugly and awkward so I am undecided. I wonder how much it would be to tear down.

[twade]

Glad to see it's finally on the market. If it sells for $650M, Icahn will have made about $500M on the deal.

Looking forward to seeing the north end of the Strip come back to life. Hope it continues.

I've heard Wynn--of all people--may actually be a suitor for the property. Maybe he has one last landmark left in him.

[gopokes88]

Awesome. Always kinda bummed me out to see it just sitting there. It's also the 2nd tallest building in Vegas and its basically a concrete glass box.

[gopokes88]

Also love him or hate him Carl Ichan is an absolute genius.

The land alone is worth $200 million and he sold off all the furnishings and scrap, numbers aren't solid but looks like he got around $200 million. So he's already book a $50 million dollar profit and if he gets full ask he'll make another 650 million.

Plaza gets Strip stuff at downtown prices - Las Vegas Sun News
The History of The Demise of Fontainebleau Las Vegas | Estimated $1 to 1.5 Billion to Complete | Purchased by Corporate Raider and Financier Carl Icahn - Las Vegas Events, Information, and ReviewsLas Vegas Events, Information, and Reviews

[gopokes88]

nm