The Real Deal Miami

Vegas hotel art bill at $5 million

July 10, 2009 12:45PM

The Fontainebleau Las Vegas exterior conveys luxury, but the interiors are evidently a match. Court records showed that the developer, linked to the Soffer family of Miami, spent about $7 million on bankruptcy lawyers and advisors and $5 million on art. The $3 billion project has been derailed by financial woes, and the project now has about $500 million in assets and $2.1 billion in debts.