What’s the Big Deal: Lester Crown unloads Aspen condo for $3.645 million
January 11, 2016
Editor's note: "What's the Big Deal?" runs Sundays and is based on the most expensive property transaction recorded in Pitkin County through 3 p.m. Friday.
Price: $3.645 million
Date recorded: Jan. 6
Buyer: Debra H. Levin Trustee, RC Wilmette Trust
Seller: Lester Crown Trustee, RC Colorado Trust
Address: 1421 Crystal Lake Road, Building C, Unit 1
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Property type: Condominium
Year built: 1976
Total heated area: 2,900 square feet
Amenities: Five bedrooms, five baths
Worth noting: The transaction was made in the form of a quit claim deed, meaning the seller transferred interest in the property to the buyer. The seller is under the name of Lester Crown, a mainstay in the Fortune 500 and dean of the family that owns Aspen Skiing Co.
• In broker Chris Klug's latest newsletter, the Olympic bronze-medal-winning snowboarder noted that total sales volume in Aspen in 2015 was $1.16 billion compared with $993 million in 2014. The average sales price last year was $3.9 million, equating to $1,244 a square foot. Single-family homes averaged $7.4 million in 2015, and condos went for an average of $1.9 million, according to Klug's analysis.
In Snowmass Village, which recorded $225 million in total sales volume last year, single-family homes averaged $4.1 million per sale, while condos averaged $871,321, Klug reported.
• For all of Pitkin County in 2015, more than $2 billion was registered in property sales in 2015, and the city of Aspen was one of the beneficiaries.
The city's real estate transfer tax, which benefits both the Wheeler Opera House and the affordable-housing program, saw a big increase in collections in 2015. The housing program was up 19 percent, the Wheeler 20 percent, according to the city's tax report issued last week.
The housing transfer tax reeled in $10 million, compared with $8.4 million in 2014.
The Wheeler tax drew $5.4 million, as opposed to $4.5 million in 2014.