Lender Forecloses on Beleaguered Lexi Las Vegas, Now Set for Auction

By Scott Roeben, on November 13 2025

2 min read 0 comments

The off-Strip porn and weed-friendly hotel, Lexi Las Vegas, formerly The Artisan, has been taken back by its lenders and is on the block yet again.

The foreclosure happened October 2025, with about $11.6 million owed on a property loan.

There was a lot of hoopla around Lexi being the first “cannabis-forward” boutique hotel in Las Vegas, but that whimsical fantasy went up in smoke.

Just the most random geographical markers, ever.

Lexi has all the challenges it had when it was Artisan. Specifically, location.

Also, it has 64 rooms.

Also, location.

Also, it’s too small to operate efficiently.

Also, location.

Also, there’s very limited parking.

Also, location.

Also, there’s no casino.

Also, location.

Also, it’s old with endless maintenance needs.

Also, well, location.

It looks like Lexi could be sold on December 17, 2025, as part of an auction.

Recipe for success: 1) Decriminalize prostitution. 2) Make this the Champagne Room Brothel. You’re welcome.

Here’s how Lexi is described: “The offering comprises The Lexi Las Vegas, a 64-room upscale independent hotel minutes from the Las Vegas Strip. The property offers investors a compelling value-add opportunity to acquire an extensively renovated, full-service asset unencumbered by debt, management and brand, allowing immediate operational and strategic flexibility. The Lexi features refreshed guestrooms, a vibrant restaurant and lounge, pool area, and upgraded building systems following a comprehensive $4+ million renovation—positioning it to capitalize on Las Vegas’ record-breaking visitation and expanding entertainment infrastructure. The property will be sold in the December 17 RealInsight Marketplace auction event, presenting an exceptional opportunity to acquire a turnkey hospitality asset with significant upside in one of the nation’s most dynamic lodging markets.

The next owner of Lexi Las Vegas could get it for a song.

The lender is going to want its $12 million back, but we get the feeling they’ll take $6 million just to get themselves out of being involved with this money pit.

Stay tuned.