Michael Jackson's Las Vegas Rental Home Sells and Breaks Record

Fan Buys Piece of Jackson History

Jan 28, 2010, 05:00 ET from Vegas Fine Estates

LAS VEGAS, Jan. 28 /PRNewswire/ -- Las Vegas Mega Agents Zar Zanganeh and Lee Medick sold the home Michael Jackson rented in Las Vegas at 2785 S. Monte Cristo Way for $3.1 Million today. The 15,461 square foot, seven bedrooms, ten bath mansion includes a tennis court, basketball court, twenty-seat theater and extensive security features on a one acre lot. The sale also represents the largest home sold in Las Vegas in almost one year.

(Photo:  http://www.newscom.com/cgi-bin/prnh/20100128/LA45265)

Jackson's Las Vegas home was sold to a doctor-lawyer couple with luxury property holdings in California and Asia who paid in cash.  At 15,461 square feet, it is the largest house sold in Las Vegas in almost a year. The home became the focal point for Las Vegas fans who gathered at the mansions gated entrance to place flowers and memorabilia following Jackson's untimely death.

Zanganeh leased the home to Jackson and his family for $1 Million for six months in late 2006 to 2007 after Jackson returned from a self-exile overseas. "It's serendipity that we sold the home that we had also rented to Michael Jackson. The estate became famous and generated tremendous interest because of the MJ connection, in fact, the buyer is a big Michael Jackson fan," said Zanganeh. His partner Lee Medick currently has Michael Jackson's Las Vegas Wonderland Estate at 7000 Tomiyasu Lane listed for sale for $16.5 Million.  "We are seeing significant residential real estate buyers starting to come back into Las Vegas," said Lee Medick  Michael Jackson's connection to both these properties brought worldwide media attention and put Las Vegas luxury property back on the radar. Medick continued, "Las Vegas residents enjoy significant tax advantages and people that buy luxury properties are savvy business people, they understand the value that being a resident of Nevada brings and the luxury lifestyle that Las Vegas provides.  Plus homes such as this deliver Star-Power to the incredible architecture."

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