A Nevada mansion built by hotelier Steve Wynn just became the most expensive house sold in the Lake Tahoe region.
It’s known as the Old Forge Wynn Estate, and it closed Thursday with a sale price of $62 million, according to a Homes.com listing. The 5-acre lakefront property was initially listed for $76 million in September 2023. In May, its price was reduced to $68.9 million.
Listing agent Christine Perry of Christie’s International Real Estate Sereno called the property “a rare gem.” Perry also represented the buyer.
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Last week’s sale marks the priciest deal in the Lake Tahoe region, and it comes on the heels of a $47.5 million sale in August. The previous record was set in 1998 when a property known as Thunderbird Lodge sold for $50 million, according to media reports.
"This transaction marks a significant moment in Lake Tahoe's luxury real estate landscape, setting a new benchmark for exclusive estates in the region," Perry said in a statement.
Wynn, a renowned Las Vegas casino mogul, completed the gated estate in 1994. Since then, it’s traded hands three times. The last sale was in 2017 when it sold for $31.1 million, according to public records.
The property includes a four-bedroom, seven-bathroom main house and a three-bedroom, three-bathroom guest house. Inside, Wynn’s original interiors have been preserved. Outside, there’s 210 feet of private beach, a deep-water pier, a boat hoist and a jet ski platform.
“This generational home rarely comes on the market,” Perry said. “The discerning buyer recognizes the unparalleled value of such an extraordinary property.”
Just a short flight from major cities in both California and Nevada, the Lake Tahoe region is a luxury vacation hot spot. Though it has had an influx of full-time residents since the COVID-19 pandemic, the majority of houses in the area are vacation houses, according to Homes.com. Visitors come to indulge in the lake's private beaches, ski resorts and hiking destinations.
The median price for a single-family house in the area is just shy of $2.5 million, a figure that has increased 28% in the past 12 months, Homes.com data showed.