Aspen office building fetches $3.1M |

Aspen office building fetches $3.1M

Rick Carroll
The Aspen Times
Aspen, CO Colorado

ASPEN – A downtown Aspen office building, originally listed for $6 million before the recession hit, sold for $3.1 million Monday.

Public records list New York-based Rudin West LLC as the buyer of the property, located at the corner of East Hopkins Avenue and Spring Street. The LLC is controlled by Michael Rudin, who is a broker with Carbondale-based TRU Real Estate, according to a statement issued by Chris Striefel, who represented Rudin in the purchase.

Striefel, also a broker with TRU Real Estate, declined to discuss what, if any, plans are in store for the building, located in the commercial zone district.

“Any improvements to the property would be with a similar intention for improving the public experience to such a prominent corner of downtown,” reads the statement.

Built in 1976, the 5,348-square-foot structure had been owned by Oregon-based Hopkins Street Venture. Its second floor houses two tenants – Stryker Brown Architects and the law offices of Rhonda Bazil. The ground-level space is empty. It also has a basement space and four off-street parking spots.

The building was put on the market in either the late summer or early fall of 2008. It quickly went under contract, but the suitor bailed because the stock market crashed around the same time, said Aspen broker Brian Hazen, who represented Hopkins Street Venture in the sale.

“It obviously got caught in the downturn of the market – not only residential but commercial,” he said.

The property was most recently listed for $3.9 million. Its property taxes were $32,955 in 2009, compared to $17,244 in 2006, according to the county assessor’s office.

According to TRU Real Estate’s statement, 10 percent of the buyer’s broker’s commissions are donated to local charities. That includes Monday’s acquisition.