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Luxury Market Stays Strong with $5,100,000 Sale

September 24, 2007

Kenneth Lowman, Broker/Owner of Luxury Homes of Las Vegas recorded a sale for $5,100,000 on September 21, 2007 . The home is located in the exclusive double gated Promontory at The Ridges, a Summerlin village on the west side of Las Vegas . A local retired gaming executive made the all cash purchase, closing escrow in six business days. “This sale shows how solid the ultra-luxury market is in Las Vegas and where it may be headed,” Lowman remarked. Lowman marketed the home for 81 days prior to entering escrow. The home had been on the market previously with two other well known Brokers but did not sell. “This truly was a unique custom home containing a half court basketball court and gym in the basement, a third floor observation deck, a game and theatre room, as well as 6 Bedrooms and 7 ½ Bathrooms. The home has awe inspiring views of Red Rock State Park and a golf course,” Lowman observed. NBA Star, Kevin Garnett, recently stayed in the home. Lowman attributed his sales success to a long-standing specialization in the luxury market, a target marketing plan that attracts wealthy Buyers (Kenneth’s last three sales have been to all cash Buyers) and a hard working team of assistants. “My Buyer’s specialist, Robin Stewart , did a phenomenal job demonstrating this property to the Buyer with just 15 minutes notice to prepare. My escrow coordinator, Kim Fry , efficiently handled the closing details to assure the quick six day close. Both the Buyer and Seller were very pleased with our efforts in this transaction.”

Some of the luxurious amenities in this world class estate include:

  • 12,814 square feet of luxury living
  • A spacious .54 acre custom Homesite near the end of a cul-de-sac
  • Inspiring panoramic views of the Mountains, Golf, City and Las Vegas Strip
  • 2 nd Gate for Promontory Residences only, in Guard Gated The Ridges in Summerlin
  • Side-loaded oversized 4 Car Garage with extra Golf Cart storage or workshop
  • Iron entry gate, Courtyard with Fire-on-Ice fireplace, Fountain and Lush Landscaping
  • Exterior Stone Accent Walls, Frank Lloyd Wright inspired design.
  • Peaceful Music area in central entry, spiral staircase
  • Sunken Family room with flat screen TV, fireplace and wet bar with wine storage
  • Formal Dining room with slate floor and Butler’s pantry
  • Gourmet kitchen with slab granite, island, stainless appliances, double sub-zero refrigerator/freezer, double built-in ovens, warming drawers, microwave, food preparation sink and custom cabinetry.
  • Multi-level Home Theatre with theatre seating and state of the art equipment
  • Game room with billiards table and balcony large enough for ping pong table
  • Office with built-ins, storage closet and access to the front courtyard
  • Spacious Master Suite on its own level with morning kitchen, fireplace, balcony, spa bath dual head shower, vanity area and walk-in closet
  • All Guest Suites with walk-in closets, full bathrooms and balconies
  • Two Laundry Rooms with all appliances, one downstairs, one upstairs
  • Crestron home automation and sound system throughout, security system including cameras
  • Relaxing Pool, Spa, Shear decents, Built-in BBQ, large covered patio, mist system and firepit
  • 3 rd Story Observation deck with 360 degree views
  • Suspended wood floor half court Basketball Court, Gym and observation area
  • Club Ridges community fitness center offering tennis, fitness, pool and recreation

Thus far in 2007 there have been 17 closed sales reported by the Greater Las Vegas Association of Realtors for near or over $5,000,000. Six of the seventeen have been in The Ridges with Luxury Homes of Las Vegas making two of those six sales. “The ultra-luxury home market continues to hold up well and may even have a record sales year,” Lowman observed.

Kenneth Lowman specializes in luxury home sales and is an expert in the marketplace. He can be reached at 702-216-4663 or or on his


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