What’s the Big Deal: $20 million buys Seventh St. home
January 17, 2016
Editor's note: "What's the Big Deal?" runs Sundays and is based on the most expensive property transaction recorded in Pitkin County each week.
Price: $20 million
Date recorded: Jan. 15
Address: 221 S. Seventh St., Aspen
Buyer: Kara Creek LLC
Seller: Saltair Trust
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Property type: Single-family residential
Year built: 1990
Total heated area: 4,571 square feet
Total land area: 51,123 square feet
Property tax bill: $12,605.24
Worth noting: The seller, a trust, was formed Nov. 14 and is controlled by trustee Allison Planting. The property previously had been under the name of the Vaughn Trust, which conveyed the property to Saltair Trust on Dec. 1. Saltair, in turn, sold the property to Kara Creek LLC last week.
• Last week's closing of the Aspen McDonald's might have some brokers and buyers licking their chops. Located next to the bus stop and a short walk from the gondola, the South Mill Street building has been owned by McDonald's Corp. since 1983. But the company will be shopping the building around with the restaurant closed, a McDonald's spokeswoman said.
"It is a great location for the right business," commercial broker Karen Setterfield said. "With the proximity to Wagner Park and the Rubey Park buses, I think the best use is a small restaurant, take-out restaurant or fast food. The addition of a small outdoor dining area on Mill Street mall would be a great addition if possible. The premises are too small for a bigger restaurant and not a great location for non-food retailers."
• Rowland+Broughton Architecture/Urban Design/Interior Design last week announced the addition of two members to its Aspen studio. Will Young joins as senior project manager and Carrera Shea as interior designer.
Young most recently held the same title at Charles Cunniffe Architects in Aspen.
Shea is back in Aspen after several years as principal/designer of Carrera Shea Design in Newport Beach, California.
• Northridge Capital, LLC, owner of the Sky Hotel in Aspen, announced its plans to redevelop the property in partnership with local developer Sarpa Development. W Hotels Worldwide has been selected as the operator for the new hotel and residences.
W Aspen and The Sky Residences at W Aspen, which are slated to open for the 2017-18 winter ski season, will be the first alpine hotel in North America from W Hotels Worldwide.