Dennis Hof enters escrow on sale of Crystal brothel

Brothel owner Dennis Hof could be on a clear path to scratching the Love Ranch South in Crystal off his list of holdings in Nevada, while staying keen on adding the Chicken Ranch to that same enumeration.

Hof said he’s working with a group on the Love Ranch South and has entered escrow on the property at 300 Appaloosa Way in Crystal.

If the deal goes through, the Love Ranch could net Hof $2.5 million, according to Eileen and John Prudhont, a pair of brokers from Platinum Level Services LLC. The Prudhonts are representing Hof and the buyer.

The deal could close in the next 50 to 60 days, the Prudhonts said in a phone interview.

The sale of the Love Ranch would spark another action, an offer to purchase all or half of the Chicken Ranch, which sits outside of Pahrump at Silver Street and Homestead Road.

Hof is considering purchasing 50 percent of the Chicken Ranch, with the other half being owned by active prostitutes who have worked at his various brothels for an extensive period of time. Hof has also considered offering ownership opportunities to women currently working as contractors at the Chicken Ranch.

Hof is also looking at other potential deals in the Pahrump area as well.

No deal is set in stone, until it is

The deal on the Love Ranch is set to close in the next several weeks but Hof is remaining cautious, as not all deals make it to the finish line, despite sitting in escrow.

The buyers of the Love Ranch will also have to get vetted by Nye County, another hurdle, which requires filling out a licensing packet, Hof said.

The new owners will also have to pay fees associated with holding title to a brothel in Nye County.

Hof, who owns seven brothels across Northern and Southern Nevada, including the Love Ranch South, put both his properties in Crystal up for sale earlier this year with the intention to sell one of them.

His brothels in Crystal include the Love Ranch South and Dennis Hof’s Cat House, which is not currently in operation. Hof said that property had an offer of $1 million from investors, according to an article in the Oct. 25, 2017 edition of the Pahrump Valley Times.

Chicken Ranch

Once a deal is sealed, Hof is looking to ink a contract on all or half of the Chicken Ranch, put up for sale in mid-September for $4.5 million.

Hof said interested buyers can also purchase half of the interest in the Chicken Ranch for $2.25 million, held by current owner Ken Green, who has owned the brothel since the early 1980s.

The Chicken Ranch also has multiple partners in addition to Green.

Hof has entertained the idea of entering a co-ownership situation, where several active prostitutes would own 50 percent of the Chicken Ranch and he would own the other half.

The Prudhonts, who work as business, commercial, land and residential investment brokers in California and Nevada, said the price on the Chicken Ranch is a little high.

In fact, the duo said they brought out a prospective buyer to the Chicken Ranch in October, who didn’t think the asking price made sense.

“When he (Ken Green) broke everything down for us, the client didn’t see the value that he (Green) felt was there,” John Prudhont said.

To date, no deal has been announced on the Chicken Ranch, which has origins dating back as far as 1844 in its original La Grange, Texas location, according to some reports. Information on the La Grange Visitor Bureau’s website states the brothel got its start in 1915 and was shut down in 1973.

The Chicken Ranch was later relocated to Nye County, which has legal brothels.

The Chicken Ranch property spreads across 40 acres and contains a living room, kitchen and several bedrooms. The property also has an attached bar and other amenities such as a pool and spa and workout rooms, according to a news release from the Chicken Ranch.

The sale price also includes the Chicken Ranch trade name, trademarks and copyrights and websites.

Other Hof deals

Hof said he’s also setting his sights on Sheri’s Ranch, which sits adjacent to the Chicken Ranch.

The Pahrump Valley Times reached out to Sheri’s for comment.

According to Aaron Xavier, director of marketing for Sheri’s, “Sheri’s Ranch is not in the process of selling any portion of its estates or equity now or in the near future.”

The company is in a healthy position with the last two quarters being the best in comparison to prior years, explained Xavier.

Sheri’s Ranch is on a similar trajectory for the rest of the year, Xavier added.

Contact reporter Jeffrey Meehan at jmeehan@pvtimes.com. On Twitter: @pvtimes

TOP NEWS
Add Event