UPDATE NOV. 8: The $12.8 million penthouse sale atop Palms Place is the highest priced high-rise property sale in Las Vegas history.
The property has changed ownership from Phil Maloof, who was represented by the Ivan Sher Group, and is now owned by TurnKey Pads, who was represented by Hali's Angels - The Hali Gillin Group.
TurnKey Pads, a luxury vacation rental company based in Las Vegas, plans to do some renovations to the penthouse, including installing a helipad with private helicopter.
The property will be available for short term rentals starting at $20,000 per night.
The new ownership is looking to court players from the Vegas Golden Knights and soon-to-be Vegas Raiders.
The property is currently available for New Year's Eve and more information can be found on TurnKeyPads.com.
The Palms Place penthouse is not owned or operated by the Palms hotel-casino or Red Rock Resorts.
LAS VEGAS (KTNV) -- A multi-million dollar penthouse is off the market in Las Vegas.
The penthouse, located atop Palms Place, is a 25,000-square-foot private residence. It features 360-degree views of the Las Vegas Strip and was recently purchased for more than $12 million.
Phil Maloof previously owned the penthouse and a property spokesperson shared a few images with 13 Action News of the 59th floor residence dubbed "the Eighth Wonder of the World."
The penthouse got that nickname as it features private elevator access, three bedrooms, five baths, a fitness room, an elevated DJ booth, resort-style bar and great room.
The residence is also fully equipped with high-tech amenities, that include an over-sized Jacuzzi, a 30-foot movie screen, outdoor space and space to entertain up to 500 guests.
Palms Place is located at 4381 East Flamingo Road and connected to the Palms hotel-casino.