We haven’t heard much about the old Gold Spike, once Las Vegas’ ultimate downtown dive, since Tony Hsieh bought it for $27 million in 2013, eliminated the casino, and (tried to) turn it into a “nightlife and entertainment destination, featuring live music, special events, bars, lounges, and arcade-style games,” as we wrote at the time. Under Hsieh’s benign neglect approach, not much happened. We reported on a short-lived synthetic ice rink there that same year and in 2017, the 42 residential units were converted into hotel rooms due to increased demand for nightly rentals. Now, the Gold Spike has been sold again to two local real estate investors for $11.4 million, around 40% of what Hsieh paid for it. The sale, according to the Review-Journal, includes the “Gold Spike entertainment complex,” the adjacent Oasis hotel, and the parking lot. No word on what the developers’ plans might be for the property.
Source: Las Vegas News