Business & Real Estate

Incline Village estate once owned by casino mogul reportedly sells for record $31 million

Screen image from @WSJRealEstate tweet shows the interior of the Incline Village, Nev., main house.
Screen image from @WSJRealEstate tweet shows the interior of the Incline Village, Nev., main house. @WSJRealEstate

A Lake Tahoe estate once owned by casino mogul Steve Wynn has sold for $31.1 million, according to news reports.

The sales price is a record for Incline Village, Nev., listing agent Patricia Lantz of Lakeshore Realty told the Wall Street Journal.

The newspaper said the buyers of the nearly 5-acre property, which includes 210 feet of lake frontage and a pristine private sandy beach with a 12,661 square-foot house, are Nora Betyousef Lacey and her husband Michael Lacey.

The property, nestled in a wooded santuary, was first put on the market in 2016 with an asking price of $45 million.

The main house has four bedrooms, five full baths and three half baths, a stone fireplace, a theater, a gym and a four-car garage. The guest house includes three bedrooms and three full baths.

The home looks out at the lake as well as the Sierra Nevada mountain range. The property is known as Old Forge.

In 1993, Wynn paid $6.5 million for the property and then tore down an old cabin and built the house, dubbed Old Forge, according to Tahoe Luxury Properties. The house was then purchased by Ten-Four-One Realty Trust, which bought the property in 1998 for $17 million, according to public records.

Incline Village has attracted many high-profile homeowners, such as Oracle billionaire Larry Ellison and financier Michael Milkin.

Nora Betyousef Lace is founder of the bio-tech company Cell Marque. Her husband is a pathologist.

David Caraccio: 916-321-1125, @DavidCaraccio