$34.5M Lake Tahoe Estate Once Owned by Casino Magnate Is Most Expensive New Listing

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A storied Lake Tahoe estate built by Harrah’s Hotel and Casinos founder William F. Harrah is on the market for $34.5 million, making it this week’s most expensive new listing on realtor.com®.

Built in 1963 in Zephyr Cove, NV, Villa Harrah was last sold in 2012 for $12 million. This year, the almost 21,000-square-foot estate was “completely re-designed and re-modeled,” according to the listing.

But it still comes with an enviable history. One of the first casino magnates to transform the gambling industry, Harrah built the lakefront estate to host world-famous entertainers.

Great room

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Open kitchen with island seating

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Retro-style bar

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One of eight bedrooms

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Resort-style spa

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Terrace with lake views

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Secret tunnels reportedly ran the length of the property, to help conceal high-profile guests such as Frank Sinatra and Judy Garland.

Previous homeowner Richard Costa, who sold the property in 2012, kept many of the original features. The current homeowner modernized the interiors, which now include “impeccable amenities and finishes not found in 5-star resorts,” the listing notes.

The property comes with private beach access. There are eight en suite bedrooms and 14 total baths. The bunk room also sleeps 12.

The great room features a wall of glass that looks out to the lake, and includes an open kitchen, and living and dining spaces. Outside there are spacious terraces and a pool. A rec area contains a pool table, flat-screen TV, eating space, and fireplace.

Elsewhere there’s a full spa (including a steam room, sauna, jetted bath, cold plunge, and salon for hair and nails), home theater, and retro-style wet bar.

The home boasts a dazzling array of high-end details, including walnut and gray elm cabinetry, imported flooring inlays, custom concrete sinks, stone slabs imported from Brazil, European fumed oak floors, leather and steel railings, and horse hair murals by Kyle Bunting.

In the winter, you’ll never have to worry about shoveling snow, as the circular driveway and porte-cochère are heated.

While the price tag is steep, the listing notes that the property has “great rental revenue potential.” With the location, the history, and the incredible look of the place, we’d say it’s a savvy wager.

Peter Aulicino holds the listing.

The post $34.5M Lake Tahoe Estate Once Owned by Casino Magnate Is Most Expensive New Listing appeared first on Real Estate News & Insights | realtor.com®.

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