Developers selling 65 condos in bulk at Strip tower

Developers of the 45-story condo tower Sky Las Vegas, pictured on April 21, 2015, are trying to sell 65 units in a bulk sale.

Another bulk-condo sale has hit the market in Las Vegas.

Developers of Sky Las Vegas, a 45-story luxury residential tower on the north Strip, have listed the remaining 65 units that never sold after the building opened in 2007.

Las Vegas brokers with CBRE Group sent out marketing materials today for the bulk deal, with a listed price of “best offer.” The sale includes about 28,600 square feet of empty commercial space on the second and third floors.

The 65 residential units, totaling almost 95,500 square feet, are 92 percent leased, brokers said.

The listing comes after investors made some bulk deals the past few years involving Las Vegas residential properties. As with Sky Las Vegas, the buildings opened as for-sale condo complexes but after the recession hit, units were rented out.

Such deals included Veer Towers at CityCenter on the Strip, where investors bought 427 units in late 2012 for $119 million cash. A year later, investors bought units at the Ogden and Juhl — two downtown high-rises — as well as One Las Vegas, Loft 5 and Spanish Palms Condominiums for $237 million combined.

Southern California developers M. Aaron Yashouafar and David Pourbaba built the 409-unit Sky Las Vegas, 2700 Las Vegas Blvd. South. According to CBRE brokers, it was the first high-rise condo project on the Strip.

Before the bubble burst, buyers gobbled up units at the tower, located across from the now-mothballed Fontainebleau resort.

Clark County records indicate the developers of Sky Las Vegas sold nearly 300 units in 2007 alone, but then just 22 from 2008 through 2014, an average of about three per year.

A phone call to the main office of Sky Las Vegas was not immediately returned today.

The bulk deal, meanwhile, does not include the space holding a CVS drugstore at the base of the tower. Investors bought that real estate last spring for $30 million.