Fontainebleau on Las Vegas Strip sells for $600M
The Fontainebleau, Las Vegas’ towering monument to the recession, has been sold again.
Billionaire Carl Icahn announced Tuesday that he sold the partially built, mothballed hotel tower on the north Strip for $600 million to real estate investment firms Witkoff and New Valley.
At the very least, the sale is a windfall for Icahn. He bought the property for around $150 million during the recession — and, according to a former listing broker for the hotel, Icahn bought it sight unseen and didn’t know what he’d do with it.
The sale is also a sign that investors haven’t given up on the north Strip, which has lagged other areas of the resort corridor w