The house does always win–even when a casino owner is flipping his own.
Las Vegas gambling kingpin Steve Wynn has just sold his penthouse at the Plaza for $24.4 million. That’s $1 million more than he paid for it just a few months ago. Of course, when it comes to transfer taxes and commission, no one is a winner, and Mr. Wynn is likely to just break even on the sale, according to The Wall Street Journal.
Still, that is a better bet for Wynn than his last transaction, when he was forced to hand over his Fifth Avenue spread to his ex-wife in October.
The buyer of the Plaza apartment is an LLC, so we’re left in suspense about who will be keeping Eloise company these days.
This isn’t the first time buyer’s remorse struck one of the Plaza’s prized penthouse. Earlier this year, another buyer backed out right after the renovation of the apartment was complete and it went back on the market for $24 million. Indeed, there’s been much quibbling about the aesthetics in the various penthouses.
This is all something of a mystery to us because the 5,600-square-foot unit Wynn just sold looks pretty tasteful to us, with nary a garish gold P in sight.