Wildcat property, outside of Snowmass Village, sells for $44 million
September 30, 2013
One of the prime properties in the Wildcat Ranch subdivision sold for $44 million Thursday, making it the largest sale in the Aspen-area real estate market since Peter Guber's Mandalay Ranch sold for $46 million in February 2004.
The property, located in the hills west of Snowmass Village, includes a 24,000-square-foot main house, a two-bedroom guest house and a five-stall barn, with "exceptional" views to the east, south and west, according to Craig Morris, who was the real estate broker for both the buyer and the seller. He called it an "extraordinary property." Morris is a partner in Aspen Snowmass Sotheby's International Realty.
The seller was JVB Properties LLC, and the buyer was Skyridge Homes LLC, according to the special warranty deed filed Thursday with the Pitkin County Clerk and Recorder's Office. Morris said he wasn't at liberty to divulge more about the buyer or the seller.
The house was listed for sale for about one year at $50 million, so the sale price was 88 percent of the list price. Morris said the buyer was a referral to him through the Sotheby's network.
The property is Lot 5 of Wildcat Ranch, which was developed in the early 1990s by investors who included actor Michael Douglas. Douglas kept Lot 5 for himself, according to Morris. He developed what is now the guest house, but he never constructed a larger home. JVB Properties purchased the lot from Douglas and constructed the main house, Morris said.
The listing information for the property at 5880 Lake Wildcat Road says the main house has four bedrooms, six bathrooms and six half bathrooms. There is a game room plus a three-tiered theater. The house is on three levels and has a four-vehicle garage. It is located on a 504-acre lot that features ponds and pastures.
The prior owner paid $154,097 in property taxes for the 2012 tax year.
The property formerly owned by Saudi Prince Bandar bin Sultan was the next-highest recent sale. His Hala Ranch at 770 Kessler Drive near Starwood sold for $41 million in June 2012, and the adjacent Bear Cabin, also owned by Bandar, sold for $8 million in a related but separate transaction.