The Gold Spike successful downtown Las Vegas is nether caller ownership, successful a woody that shows a crisp driblet successful income worth of the erstwhile casino site.
Las Vegas husband-and-wife existent property investors Huan “Jeff” Mai and Qing Zhong bought the edifice and nightlife spot astatine Las Vegas Boulevard and Ogden Avenue for $11.38 million, according to Clark County spot records and Nevada business-entity filings.
The sale, by the property of the precocious Zappos main Tony Hsieh, closed June 10.
The buyers ain buying centers successful Southern Nevada and recently purchased the Macy’s-occupied gathering connected Spring Mountain Road successful Chinatown. Their acquisition of the Gold Spike includes the connected Oasis edifice tract and a parking batch operated by the metropolis of Las Vegas, spot records show.
Mai declined to remark connected the purchase.
Clark County spot records amusement that Hsieh, who died successful 2020, acquired the dispersed for astir $27 cardinal successful 2013.
Attorneys for Hsieh’s father, who has been managing his son’s property done a probate lawsuit successful Clark County District Court and signed disconnected connected the Gold Spike sale, did not respond to a petition for comment.
Mushrooms and Legos
Built successful the 1970s, the Gold Spike is simply a squat gathering adjacent the canopy-covered, tourist-packed Fremont Street Experience. It boasts unrecorded music, peculiar events, and plentifulness of games.
All told, the compact spot has a hodgepodge consciousness that hearkens backmost to Hsieh’s Downtown Project days of pumping money, bully times, and all-over-the-place ideas into the Fremont Street area.
The main indoor abstraction astatine the Gold Spike is fundamentally an arcade with a barroom and lounge, featuring excavation tables, foosball, Skee-Ball, Beavis-and-Butt-head-themed cornhole boards, and different games.
The outdoor space, called the Backyard, has a random assortment of stuff.
It features turf-covered furnishings that look similar intimately cropped hedges; a massive, decorative aureate snake; a schoolhouse autobus painted with a psychedelic vision, including mushrooms; much cornhole boards; a elephantine chess set; a crate filled with elephantine Lego bricks; a elephantine beer-pong setup; multicolored hopscotch grids; and, successful existent Tony Hsieh fashion, an Airstream trailer.
Renovations
The Siegel Group, a Las Vegas existent property steadfast known for its concatenation of low-priced Siegel Suites flat buildings, acquired the Gold Spike successful 2008.
At the time, the Las Vegas Review-Journal described the Gold Spike arsenic a smoke-choked spot known for selling tequila shots and cans of brew for $1 apiece.
Michael Crandall, main concern serviceman with The Siegel Group, said this week that the institution wholly re-did the casino floor; added a caller bar, edifice and different features; renovated the edifice rooms and hallways; and spruced up the exterior of the property.
In 2013, it sold the Gold Spike to Hsieh.
Crandall confirmed that the casino closed aft Hsieh bought the spot and that Hsieh transformed the spot into what’s seen today.
Flame-shooting praying mantis
Hsieh, the erstwhile CEO of online footwear seller Zappos and look of downtown Las Vegas’ economical revival, died connected Nov. 27, 2020, astatine property 46 from injuries suffered successful a Connecticut location fire.
He was unmarried and near down a vast portfolio of bureau buildings, flat complexes, retail properties, and different sites downtown. He assembled the holdings done a $350 cardinal broadside task launched successful 2012 arsenic the Downtown Project, becoming a one-man redevelopment motor for a long-neglected portion of the city.
Overall, helium bankrolled bars, eateries, and tech startups and became 1 of downtown’s biggest spot owners done the venture, present called DTP Companies.
He besides lived downtown successful an Airstream trailer with a favored alpaca, sported a mohawk, and had a fondness for Northern Nevada’s Burning Man festival.
Plus, his erstwhile broadside task developed the Downtown Container Park connected Fremont Street, wherever visitors are greeted by a flame-shooting praying mantis retired front.
Contact Eli Segall astatine esegall@reviewjournal.com oregon 702-383-0342.
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