Mark Wahlberg bought 2.5 acres of vacant land in one of Las Vegas’ most exclusive neighbourhoods for $15.6 million in 2022. He hoped to build a family home, but the By Any Means actor never got around to construction.
Instead, he sold the property two and a half years later for $17.25 million, pocketing a $1.65 million gain before expenses, according to a report by the Review-Journal.
A private corner of Summerlin
Wahlberg snapped up the residential land in The Summit Club, a private community off Town Center Drive in Summerlin, the western suburb along the edge of the valley. The land sits in a “555-acre extraordinary sanctuary”, according to the club’s website.
“The Summit Club is the only private residential lifestyle club community in Las Vegas. Sit back and enjoy five-star amenities, a championship golf course, a robust outdoor pursuits programme and unique terrain-to-table culinary offerings.
” The gated enclave also features a large clubhouse and round-the-clock security.With multimillion-dollar homes and vacant lots commanding premium prices, The Summit Club ranks among Southern Nevada’s most expensive residential addresses.
Even the empty homesites here sell for big bucks. A total of 202 lots had sold for $821.6 million by the end of 2021, according to a securities filing by developer Howard Hughes Corp. That works out to more than $4 million per lot on average.The star bought two adjacent lots covering 2.5 acres for $15.6 million in July 2022, according to property records. The seller was Ben Bostrom, a former motorcycle racer. The lots were never formally listed for sale.
A local luxury broker told the paper they were headed for a much higher price than the amount Wahlberg paid.Initially, the land was intended for a home. County records put the project’s contract value at $25 million and its size at 37,694 square feet. The records do not include architectural drawings or a detailed description of the house.Wahlberg didn’t mind sharing his goals. In 2023, he told Today.com that “the plan was always to build, not only a studio but a family home”.
But the plan stalled. In a letter to the county, he asked for more time for the plan review because he needed to “finalise and secure construction financing”. The county never issued a building permit.
The sale
Later, in 2024, Wahlberg sold the lots for $17.25 million. The deal closed in December 2024. Wahlberg’s name was not on the deed recording the sale. The transaction took place through the same trust he had used to buy the land.
He was named as trustee on the earlier deeds. Brian Dentel, a co-trustee of that trust, signed the sale deed. Dentel works for Gelfand, Rennert & Feldman, a business management firm that serves the entertainment industry.The buyer was Summit PS LLC. Property records do not show who controls it. The company is not registered in Nevada. A Delaware entity with the same name exists, but its formation papers do not name its owners.On paper, the sale brought in about $1.65 million more than Wahlberg paid. That figure excludes costs, fees and any money spent on the land. The lots have changed hands since then, but the house planned for them has not been built.Interestingly, this land was not the only purchase Wahlberg made in the neighbourhood. He bought a townhome in The Summit Club for $14.5 million in 2022 and sold it for about $16.6 million the following year. Soon afterwards, he bought a single-family house in the club for more than $21 million.