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NEW YORK (CNNMoney.com) -- The epicenter of foreclosures shifted to the booming city of Las Vegas at the end of 2007. Seven of the top 100 worst-hit zip codes last December were in the gaming ...
Research from real estate data aggregator Attom shows through the first half of 2024, Nevada was fourth in foreclosures nationwide, with 0.19% of homes in active foreclosure, ranking behind New ...
Vici purchased the real estate of the Venetian complex from Las Vegas Sands in February 2022 for $4 billion. [37] [38] The acquisition included the Venetian and Palazzo casino hotels and the Sands Expo convention center. [38] Apollo Global Management bought the operating business and leased the property from Vici for $250 million per year. [37]
Nevertheless, in an illiquid real estate market or if real estate prices drop, the property being foreclosed could be sold for less than the remaining balance on the primary mortgage loan, and there may be no insurance to cover the loss. In this case, the court overseeing the foreclosure process may enter a deficiency judgment against the ...
In 2007, El Ad Properties purchased the New Frontier Hotel and Casino on the Las Vegas Strip. The company owned the Plaza Hotel in New York City, and announced plans to build a Las Vegas version on the Frontier property. [34] [57] [58] The resort would cost at least $5 billion, [59] [60] and include a 175,900 sq ft (16,340 m 2) casino. The ...
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