Supposedly the view is incredible. The Las Vegas RJ stated,
"Why the high price for the penthouse? The view, which Ezra said is "arguably one of the best" on the Strip. The unit looks south down Las Vegas Boulevard, past Mandalay Bay to McCarran International Airport, and its view spans east toward Nellis Air Force Base. The home's owner will be able to see the planes landing at both sites, Ezra said."
That must be some view to be worth so much without even being completed. It's interesting to see how people with money are still buying in Las Vegas even though the mid level homes are piling up.