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Nevada West Auctioning Off 80-Plus Condos

LAS VEGAS-The locally based development firm is auctioning off the converted apartment units it has been unable to sell at a 282-unit development in Summerlin.

By Brian K. Miller | Updated on January 24, 2008

LAS VEGAS-Nevada West Development is auctioning off the condos it has been unable to sell at a project near Summerlin, a master-planned community on the western edge of Las Vegas. The locally based development firm has hired Real Estate Disposition Corp. to auction off 83 units of the 282 units that comprise Adagio, a 282-unit former apartment community at North Buffalo Drive and Vegas Drive.

Nevada West acquired the apartment complex in 2005 for $45.3 million. In December, published report quoted a sales agent of Nevada West saying the company had only 50 units left to sell. A check of Clark County property records shows that Nevada West still holds title to 83 units. Nevada West Development did not return a phone call seeking comment.

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