Typically, multiple bidders chase homes on the auction block, although the Pepermill’s multimillion-dollar price tag would have “pushed other people out,” Grover said. The auction was noticed in Nevada Legal News before the sale. Although the petition for sale sought to spin off the property to Doumani, any other party could have bid more than $10.65 million and purchased the real estate. It was also notable that no other parties bid, Grover added. “I turned to another attorney and said, ‘Did they say $10 million?’ For this to go into probate was really unusual,” Grover said. Such properties usually are held in trusts or corporations and bypass probate court. It’s unusual to see a commercial property with the Peppermill’s value in a court auction, Grover said. Local probate attorney Thomas Grover of Goodsell &Olsen said he was watching the public auction of properties Friday morning when the sale came up, amid auctions of $150,000 and $350,000 homes. The petition also set the sale amount of the 60 percent interest, and stated that the buyer should be Lorenzo Doumani. 10 petition to sell the property listed the entire parcel’s value at $17.73 million. The order followed a public court auction at which Doumani was the only bidder. The Doumanis owned 40 percent of the property, while the estate of Mildred Ash, the wife of a former development partner, owned 60 percent.Ī District Court order in Clark County n Friday decreed that the Ash estate’s share of the real estate be sold to Lorenzo Doumani for $10.65 million. One of the Strip restaurant’s longtime owners, the Doumani family, will take over 100 percent ownership of the building and its 1.1-acre parcel at 2985 Las Vegas Blvd. The Peppermill Fireside Lounge’s future has gone from safe to really safe, its owner said Friday. The Peppermill Restaurant and Lounge (Bill Hughes)
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