Back in 2012, when I had Ferguson's Motel Listed for sale, and having spent several months marketing, touring and writing low ball offers for the property, a guy, who worked for Tony, approached me about the Downtown Motel property.
The Owner being savvy about the marketing activities surrounding his Motel told me he would sell to Tony at $3.6 Million.
Now, I had just sold the Las Vegas Dragon Hotel to Tony for slightly more than listing price of $2.3 Million. So, I was surprised when Tony's guy offered $2.7 Million for the Las Vegas Dragon Hotel.
Now, I did tell the Owner of Ferguson's this when I listed his motel for $2.8 Million. But a few months later, I realized he was correct when he sold Ferguson's for Tony for $3.6 Million!
Now, Tony never actually personally inspected the hotel property, (he did send a contractor to do that though) nor did he even visit the Las Vegas Dragon Hotel personally before buying it for $2.7 Million. At that time, I thought Tony was being foolish to pay so much for property he didn't truly care about.
Anyway, all three properties I sold to Tony's Downtown Project, Sold.
And, in all that time, I never personally met Tony.
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| Tony Hsieh |
At that time, I was even critical of Tony for overpaying for property. But, apparently, that didn't matter. Tony had Sold Zappos to Amazon for a ton of money; and, he was going to buy property in the "East Fremont District' regardless.
Since then, in the eight years since closing the all cash deals, the values of Tony's purchases have increase far beyond his (at the time) higher than market acquisition price.
And, Tony had moved on to purchase other better known properties -- such as "The Atomic Café," & "The Bunkhouse" to add to his collect which included the Container Park and a lot others.
Nevada Rules & Regulations restrict the media from publishing the actual cause of death, so we will have to go with "injuries from a house fire."
RIP Tony. You re-directed East Fremont in an upbeat progressive direction.
Thank You!
