Yesterday’s RGJ reported that the Grand Sierra Resort is negotiating with a few interested parties on the sale of the property. All involved parties are quiet on the details but the RGJ reported that “The Grand Sierra Resort Corp. bought the property for $150 million from Caesars Entertainment in 2005.”
If The Grand Sierra Resort Corporation bought at the peak of the market, then, based off of median price declines for residential property (26.4%), today’s selling price should be around $110 million.
We’ll see what it ends up selling for. I hope the new owners put in the long-awaited indoor water park.