October 2, 2022

thepumpingchicago

World for Home.

Summerlin home lists for $4.75M after full remodel

Located in Summerlin’s traditional luxury neighborhood Mountain Trails, the fully renovated two-story estate on Glenrock Drive lists for $4.75 million through Anthony Spiegel with the Ivan Sher Group, Berkshire Hathaway HomeServices Nevada Properties.

“We’re in an economy where you’re able to buy a home like this for what I believe is below replacement cost,” Spiegel said. “I promise you to build to this level of quality would cost more than it would cost to buy it today.”

Based on the price, it reflects $725 per square foot compared to over $1,000 a square foot in The Ridges, a newer Summerlin community.

“Right now, you can buy a home at a 25 percent to 30 percent discount compared to The Ridges, on a significantly larger lot,” Spiegel said. “The value proposition is significant.”

According to Spiegel, the property, when it sells, will be the highest price per square foot ever traded in Mountain Trails. Glenrock Drive represents a trend Spiegel sees happening in the more established luxury neighborhoods throughout the valley.

“This is the next evolution of the flip business,” Spiegel said. “Where someone is coming in and rethinking what the home could be.”

The sophisticated 6,729-square-foot property sits on an expansive half-acre. It features five en suite bedrooms including two primary suites, six baths, office/gym, an upper-level bonus room and incredible finishes throughout including over 7,000 square feet of hand-laid white French limestone.

“We wanted to use something that was a forever material,” property owner Levi Streiter said about the limestone used throughout the property. “It gives it that special Mediterranean feel but still has that contemporary look.”

Levi and Shany Streiter purchased the home in 2021 with plans to reimagine the neglected property.

“We couldn’t believe what the prices of the homes were compared to other large custom homes on half-acre lots we see in other areas,” said Levi Streiter, owner of a wholesale medical supplies distributorship. “It was lower than it should have been, so I decided to take a shot.”

The Streiters invested over $2 million to fully renovate the 23-year-old property. The extensive project took over 10 months to complete.

“This is classified by the city as a new build,” Streiter said. “There is nothing we haven’t touched. We chose things that were beautiful, functional and of high quality. Some people told me I was overspending,” he said. “I would rather do it right than cut corners.”

Once construction began, the ambitious project involved demolishing the interior down to the studs. Modifications include rebuilding the staircase and landing, restructuring an upper hallway, installing new windows and doors and reconfiguring the kitchen.

“I tried to make the home something where if I was living here, I would love,” Streiter said. “Everything came out how I hoped.” Serving as the general contractor, Levi Streiter performed most of the oversight on the project. Shany Streiter helped with the interior design.

“It took me by surprise how much work it was,” Levi Streiter said. “During the peak of it, I spent 12 to 16 hours a day. I’m happy to be done.”

However, parts of the home’s renovation required specialized help to complete. The couple hired a general contractor halfway through the project due to the city’s requirement that only a licensed general contractor can make structural changes.

The biggest challenge of the project involved removing a centrally located walk-in pantry to create an open main living area. The pantry served as bearing support for the upper level, requiring reinforcement for the space.

“We took out the pantry and installed a 40-foot steel beam going from one side of the home to the other,” Streiter said. “So, it supports the tall ceiling and larger span of the room.”

The Streiters transformed the outdated Mediterranean interior into a bright, sophisticated modern Mediterranean retreat. The cohesive design integrates natural luxurious materials and bright neutral colors. The main level showcases an abundance of natural light flowing through oversized custom Bella Vista windows and doors.

“I love the new windows and doors in the house,” Streiter said. “It gives it a totally different feel, very light and airy.”

Entry through the grand double glass door flows into a spacious formal living space graced with 30-foot ceilings. The space’s expansive 20-foot pocket doors frame views of the incredible exterior while providing seamless indoor/outdoor living.

Striking white Cristallo quartzite counters contrast the stylish gourmet kitchen’s warm brown Cleaf of Italy custom cabinetry and Dacor graphite stainless steel appliances. Enhancing the modern aesthetic, the space features gold accents of Brizo fixtures, RH pendants and linear cabinet pulls.

“We opened up the kitchen and added more modern features like a walk-in pantry,” Streiter said. “We made the white counter tops the main feature, then decided to go with some black features to give it that pop.”

A central oversized 12-foot waterfall island divides the kitchen from the inviting great room. It features a secondary, blue-honed marble fireplace.

An upper-level primary suite features a kitchenette, his-and-her closets with built-ins, and a private balcony overlooking the lush backyard and pool deck.

Its luxurious bath showcases a ThermaSol steam shower, heated marble flooring and a freestanding, 1,200-pound concrete soaking tub from Native Stone. Streiter moved the plumbing around and reinforced the floor to accommodate the steam shower and tub.

“The tub won some designer awards,” Streiter said. “We had to bring it up with a crane. It is not moving.”

The exterior underwent a complete transformation. Sage Design Studios, a landscape architectural service, planted over 1,000 plants and trees on the sizeable property.

“You’re not going to find the exterior yard anywhere else in Vegas,” Streiter said. “I am positive about that.”

The lush backyard design showcases a new pool and spa surrounded by elegant white French limestone flooring. The outdoor kitchen boasts of a 12-foot quartzite island with brand-new upgraded Coyote appliances. A gazebo plumbed with misters for cooling off hot summer days offers a comfortable conversation area.

Mountain Trails is an established luxury neighborhood nestled in the heart of Summerlin. Comprising of more than 100 custom half-acre lots, the intimate community offers incredible amenities including 24-hour guard-gated security and proximity to Summerlin’s incredible parks and hiking trails.