A condo built as a part of the luxury Tahoe Beach Club development has just sold for a whopping $6 million to a Las Vegas-based buyer. The 3,970-square-foot condo located at 17 Beach Club Drive on Lake Tahoe’s South Shore is priced at $1,561.71 per square foot—the fourth-highest amount for a condo. The property description notes that the five-bed, six-bath condo is “bright and airy and blends modern livability with understated luxury.” The condo has an open floor plan, multiple terraces, and even a personal elevator to move through its multi-story layout. The condo and surrounding development, started in 2019, was the first lakeside development approved in Tahoe in over 35 years, highlighting the high housing demand in the area.
Only the uber rich can afford to deal with all the red tape and regulation it takes to build in Tahoe. A recent project we completed had $350,000 of entitlement fees per unit just to get the permission to build. There will never be affordable housing in the Basin.