Las Vegas --The Bureau of Land Management (BLM) today sold 63.75 acres in 13 parcels for $15,397,200 during a competitive public land sale. The agency offered 81.25 acres, in 17 parcels, under the Southern Nevada Public Land Management Act (SNPLMA). Parcels offered for sale varied in size from 1.25 to 17.5 acres and were located in the Las Vegas Valley.
Successful bidders included:
Location
Size
Fair Market Value
Purchase Price
Successful Bidder
Parcel Number
Mardon & Montessouri
5 acres
$2,500,000
$2,500,000
Roohani Khusrow
N-94807
Torina & Tenaya
2.5 acres
$285,000
$285,000
Lexiland, LLC
N-92830
Pebble & Monte Cristo
2.5 acres
$238,000
$278,000
American West Development
N-94809
Blue Diamond & Park
1.25 acres
$63,200
$83,200
Allay Investment, LLC
N-81973
Richmore & Monte Cristo
2.5 acres
$133,000
$223,000
Monte Cristo Way Realty, LLC
N-94810
Silverado Ranch & Dean Martin
12.5 acres
$1,875,000
$1,875,000
Turtle Beach Productions
N-94814
Frias & Dean Martin
17.5 acres
$5,500,000
$5,500,000
American West Development
N-94816
Rush & Polaris
5 acres
$1,920,000
$1,920,000
American West Development
N-94817
Frias & Arville
2.5 acres
$675,000
$675,000
American West Development
N-94818
Frias & Arville
2.5 acres
$213,000
$283,000
Malik Umer Zahid
N-94819
Haleh & Hinson
2.5 acres
$260,000
$260,000
Malik Umer Zahid
N-85664
Haleh & Hinson
5.0 acres
$455,000
$505,000
Malik Umer Zahid
N-81967
Cactus & Arville
2.5 acres
$930,000
$1,010,000
Lexiland, LLC
N-94820
All successful bidders paid the required 20 percent of the bid by 3 p.m. today. The remainder of the bid is due within 180 days (Jan. 30, 2018.)
In accordance with the joint selection process, unsold parcels must be re-nominated for consideration at future land sales by the local government.
In accordance with the SNPLMA, funds generated from the sale of public land may be used for specific purposes including parks, trails, and natural areas; capital improvements, conservation initiatives; and for the purchase of environmentally sensitive lands. Additionally, 10 percent of the funds will go to the Southern Nevada Water Authority, and five percent will go to the Nevada State General Education Fund.
Source: U.S. Department of the Interior, Bureau of Land Management
