Longtime Las Vegas land investor Khusrow "K" Roohani and his partners have purchased approximately 70 acres at the northwest corner of Las Vegas Boulevard and Blue Diamond Road for $140 million, according to property records and business filings. The transactions, which closed last month, were made through Seven Valleys Realty & Construction from developer Scott Goldstein, founder of Prospect Street Capital, marking a sharp rise in value for the property located about three miles south of the casino corridor.
The site has a history of unrealized proposals, including a $7.5 billion project called Bleutech Park Las Vegas announced several years ago. That developer reached a deal to acquire the land from Roohani and another owner but never closed the purchase. Earlier this year, Bleutech issued news releases pitching a sports arena for the same location, quoting Roohani expressing pride and excitement about the convergence of innovation and entertainment.
However, Clark County records show no project plans filed by Bleutech for the property. Roohani confirmed in a recent interview that he was not aware of any filed plans and indicated Bleutech is not currently under contract to buy the site. Clark County Commission Chairman Michael Naft, whose district includes the land, said he has seen no details on the latest proposal, has not been contacted by the development team, and is unaware of any filed plans.
Roohani, who has spent years buying land at government auctions and selling to developers, described himself and his partners as land speculators who seek the best ideas for their properties. Goldstein confirmed the sale to Roohani and stated he has never dealt with anyone from Bleutech. Naft noted the corridor south toward the M Resort offers ample opportunity for high-density development with highway and airport access, saying, "The sky's the limit for what could go in that area."
Sources: Las Vegas Review-Journal
Original reporting: Las Vegas Review-Journal →
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