Phil Maloof Lists $38 Million Penthouse with Dali and Picasso Paintings

Maloof Penthouse

Listed by Lisa Sutton, Synergy Sothebys International

Phil Maloof, a former New Mexico state senator and member of the famous Maloof family, just listed his Las Vegas penthouse atop the Palms Place tower for $38 million.

The penthouse is by far the most expensive home listed in Las Vegas, but it comes with something you won’t find anywhere else: paintings by Dali and Picasso! According to the listing, Maloof will include the priceless works of art as part of the deal. (By the way, the second most expensive property in Las Vegas is a $16.5 million estate that Michael Jackson once considered making his new Wonderland.)

Maloof’s penthouse has everything you need for a Las Vegas party pad, including a 20-person hot tub, 35 flat-screen TVs, DJ booth, a helipad spot and an outdoor theater and kitchen. It has three bedrooms and five baths, and spans 6,230 square feet, but there are 27,000 square feet when you include the massive balconies.

The ceilings are 30 feet tall, with walls of glass to take advantage of the 360-degree views of the Las Vegas Strip. It’s accessible via a private elevator, and comes fully furnished with a modern, minimalist design. There’s also a whole-home remote control system, wet bar, gym and office. The homeowners association dues are a whopping $4,481 per month, but include concierge services, a pre-arrival grocery shopping service, access to the fitness center, two free spa passes a month and discounts for The Palms’ restaurants, room service, shops and services.

Maloof purchased the unit in 2008 for $4.5 million, but that was probably at a discount, considering his family founded The Palms and still manages the property.

If you had $38 million to spare, would you pick up this property? Tell us what you think in the comments below!

Discussion

  • Lisa Bergeson

    Phil’s brother George built the Palms and Palms Place, George Sr is deceased, since 1980

    • Rebecca Samuelson, Redfin

      Thanks, Lisa! We’ve made the correction.

    • cc

      We updated the post, thank you!

    • http://www.misskellyrossi.com Kelly Rossi

      Hey guys, his brother George who built the Palms is not dead. He’s running around Vegas working on their next project. Their father was also named George & he was the one who passed in the 80s.

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  • BL Conway

    Isn’t the former Wayne Newton property listed at $48M? That would make this the second most expensive listing in Las vegas?

  • Elite Homes US

    Thank you for this coverage, Christin! We are thrilled to introduce Phil’s property to the market and look forward to it’s presence enhancing not only the Las Vegas luxury real estate industry, but our global industry as a whole. Please feel free to contact us with any questions. Connect@EliteHomesUS
    Sincerely,
    Sutton & Chase | Elite Homes US | Synergy Sotheby’s International Realty

  • RonaldB

    It could be a unique investment property. I read that the current owner has rented the property out on a nightly basis to corporate clients and celebs for their party, for $75,000/night. Round up 6 guys, $5M each to rent it out as a high-end event space.