$75M deal on mansion to close mid-May

Las Vegas-based Terra Firma announced that it has a record $75 million deal for among the biggest luxury estates ever integrated in the valley at 55,000 square feet. It is expected to close in mid-May. The mansion's design has not been settled. This is a rendering of a home that might be built in the MacDonald Highlands high-end neighborhood in Henderson. (Terra Firma)This making shows a suggested design for a house to be built in Terra Firma's MacDonald Highland's high-end community. The designer said it expects to close on a record $75 million deal in mid-May. The design for that home hasn't been settled and goes through alter, however currently stands at 55,000 square feet with 2 or 3 stories for 13 bed rooms. (Terra Firma)This rendering represents a house design by Terra Firma, which is building a development in MacDonald Highland's high-end neighborhood. The developer announced a record $75 million deal that is anticipated to close in mid-May. The large price includes four combined lots amounting to 1.1 acres. (Terra Firma)This making shows what houses could look like in Las Vegas-based Terra Firma's new high-end development in MacDonald Highlands. (Terra Firma)This making shows what homes might look like in Las Vegas-based Terra Firma's new high-end advancement in MacDonald Highlands. (Terra Firma).
Las Vegas development firm Terra Firma stated it has a new home job at the top of the hillsides of MacDonald Highlands under contract for a record $75 million and that it will be among the largest high-end estates ever integrated in the valley at 55,000 square feet.

The sale when it closes will eclipse the $25 million deal in 2021 for a freshly constructed 15,000-square-foot home in MacDonald Highlands that rests on 1.26 acres. That job of Blue Heron was bought by Anthony Hsieh, the founder and chairman of LoanDepot.

The name of this buyer hasn't been disclosed, except that it's a family. It's listed under contract by the Las Vegas Realtors association Multiple Listing Service and it will not appear on Clark County records till the deal closes for the land in mid-May.

The style hasn't been settled and is subject to alter, but presently stands at 55,000 square feet with two or three stories for 13 bed rooms. The $75 million figure includes four combined lots of 1.1 acres and the home and square video and cost could end up greater or lower based upon the last style.

De'Aire Shannon, director of style and advancement at Terra Firma, said there's a lot of shows for the prepared home and expects to finish the style and break ground in early 2024. He said it will take a minimum of 2½ ½ years to construct.

Terra Firma is a three-year-old design-build company that has obtained more than 30 lots in MacDonald Highlands to construct luxury houses. It has actually been working with the customer for about a year.

Matthew Brimhall, managing broker for Terra Firma who listed the home, said the company has actually gotten a lot of publicity from being included on the Bravo television show "Million Dollar Listing" that aired on three episodes in February and March.

" The program (with the Altman brothers) looked at our development and saw exactly what we see with its endless potential," Brimhall stated. "It's been extremely effective in finding clients who are looking for a high-end estate to assist the design and construct.".

The three episodes focused on the advancement as an entire and Terra Firma's partnership with the Altman brothers in marketing the site. The program also included Terra Firma dealing with clients in the design-build format.

Brimhall said they can't offer any information on the purchaser, except to say "he's a significant individual" who has a variety of homes and has a household.

Shannon stated they get inspiration for their styles in South Africa and the UK with the curvature and fluidity of the houses and are attempting to bring some of that design to Las Vegas.

" We're attempting to do something a little different," said Shannon, a Las Vegas local who has actually remained in business for more than 30 years. "We want the house owners to accomplish their wildest dreams. Whatever they can picture and any materials from throughout the world we wish to go to the edge to get them exactly what they want - - a real elegant custom-made home.".

Shannon said the 55,000-square-foot figure is a starting point and recommended it could go to 60,000 square feet or be smaller than 55,000 square feet. They will not know until the style is finished.

The house will be modern to fit the design of MacDonald Highlands and will have a fitness center, theater, recreation room, sports court and swimming pool.

" We took a seat with this client and their programs is pricey and the possibility of the (final cost) decreasing is slim to none based on the facilities that they are requesting at this time," stated Diedre Gaddy, Terra Firma's director of interior design. "It's four lots put together so the programming that's entering into home has a great deal of amenities around remaining in place so they almost never ever need to leave. They will have all the whistles and bells and everything that meets their way of lives. All of their kids will have their amenities there.".

Shannon stated the property owner asked that the house be 55,000 square feet however doesn't know why that size was sought.

" It's a personal decision for each one of our customers," Brimhall stated. "It's less our concern about how many square feet and more our concern is (how it will be) used perfectly and incredibly and develops the vision that they have.".

Brimhall stated the website is at the "top of the top of MacDonald Highlands" with views of the Strip and whole valley. There's just one other lot on that street after these four lots were integrated.

" When you are basing on those lots, the view of what you see is amazing," Brimhall stated.

Kristen Routh-Silberman, the broker of MacDonald Highlands who helps with land sales to homeowners and contractors on behalf of MacDonald Highlands designer Rich MacDonald, was the listing representative for the then-record $25 million sale in 2021.

" Rich MacDonald is definitely thrilled," she stated. "He assisted hand-select those lots for Terra Firma, and the MacDonald sales team is thrilled with those men and to be in collaboration with them. Anything coming on at $75 million, we haven't seen anything like it.

The area at the top of the peak belongs to the last phase of development in MacDonald Highlands, Routh-Silberman said.

" They may not all be at $75 million due to the fact that this is 55,000 square feet across four lots," Routh-Silberman stated. "Matt is going to shatter my $25 million record, and I'm delighted they are doing it in MacDonald Highlands. I'm happy to have an ancillary part of it with MacDonald Highlands and the entire sales group.".