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Developers Bet Big on Las Vegas

The RealDeal

In a sign that Las Vegas development is expected to make a big post-pandemic comeback, Koch Real Estate Investments has purchased the stalled $3.1 billion 3,780-room resort project at 2777 South Las Vegas Boulevard for an undisclosed amount.

The project formerly led by Steven Witkoff was originally slated for completion in 2022, but new projects stalled out in the first half of 2020 as a result of the pandemic, causing construction delays.

The development site last changed hands in 2017, when Witkoff purchased the property from Carl Icahn for $600 million.

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