Las Vegas’ failed Ferris wheel site has been sold — and the new owner is looking to build big.
Developer Eli Applebaum purchased the never-finished SkyVue project site on the south edge of the Las Vegas Strip, property records show. The sale, by a group that acquired the spread years ago through a bankruptcy case, closed Monday.
In total, Applebaum bought nearly 12 acres along Las Vegas Boulevard, across from Mandalay Bay, for $70 million. The tract includes vacant land, a few small buildings, and the remains of SkyVue: two giant concrete columns that have been sticking out of the ground for more than a decade.
