Aspen penthouse fetches $15.8 million
This week’s $15.8 million sale of the Muse Building’s top-floor penthouse was a significant one, but it still didn’t crack Pitkin County’s most expensive property transactions this year. Here’s a look at biggest deals of the 2014 through Tuesday.
Price: $26 million
Date: May 27
Buyer: Juniper Asset Holdings
Seller: Aspen Lakes Ranch
Address: 460 Sunnyside Lane
Price: $23 million
Date: Sept. 3
Buyer: CB Real Estate
Seller: 979 Aspen LLC
Address: 979 Red Mountain Road
Price: $20 million
Date: Aug. 7
Buyer: Bemar LLC
Seller: Willoughby Partners LTD
Address: 865 Willoughby Way
Price: $19 million
Date: April 17
Buyer: Aspen Stream LLC
Seller: James A. Morse Trustee
Address: 855 Bay St.
Price: $17 million
Buyer: Three LLCs controlled by Paul and Sandra Edgerley
Seller: Mother Lode Investors
Address: 314 E. Hyman Ave.
Note: Deal consisted of three separate transactions for top-floor penthouse, second-floor residence and basement space
SOURCE: Pitkin County Clerk & Recorder’s Office
A downtown Aspen penthouse reeled in $15.8 million Tuesday, marking Pitkin County’s fourth eight-figure property sale of November.
The change of ownership for the penthouse, located on the top floor of the Muse Building on Hyman Avenue, also signaled the first sales activity for the structure, which was built on a private parking lot and completed earlier this year.
The condo went on the market in late June with an asking price of $16.7 million.
The seller was 633 Spring Penthouse LLC, which is controlled by Aspen developer Nikos Hecht. Hecht also is the majority owner of the commercial space in the Muse Building, which is located next to the Aspen Art Museum. The construction of both the art museum and the Muse Building were the result of a lawsuit settlement between Hecht and the city of Aspen in 2010.
Property records identified the penthouse buyer as Aspen Muse PH LLC, which was formed Nov. 2, according to the Colorado Secretary of State’s website.
“It’s a pretty good sale,” said Lex Tarumianz, who along with Craig Morris represented the seller. “It’s topping out toward one of the highest prices per square foot in the downtown core.”
Morris, who could not be reached for comment, also represented the buyer, along with Brandon Blocker. Both are property brokers with Aspen Snowmass Sotheby’s International Realty.
At 5,053 square feet, the four-bedroom, four-and-a-half bathroom penthouse, which includes a rooftop deck and pool, commanded more than $3,100 per square foot. Tarumianz said the price per square foot is one of the most expensive he’s aware of for an Aspen penthouse.
The Muse Building’s first-floor retail space and second-floor commercial space has yet to be leased.
“We’re working on it and we’re getting close,” Tarumianz said.
Meanwhile, through Tuesday, there had been 23 real estate deals in Pitkin County in the eight-figure range, including four in November.
In addition to the Muse Building penthouse, three single-family homes sold for $14.25 million, $11.75 million and $10.4 million this month, according to county property records.
And through September, Pitkin County recorded $1.12 billion in property sales, compared to $987.72 million for the first nine months of 2013, based on a report recently issued by Land Title Guarantee Co.
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It’s been just shy of a year since Snowmass Village Town Council reviewed and approved the final redevelopment plans for the Snowmass Center in late fall of 2020 and just shy of two years since the project was first brought before council for review in 2019. But the building still looks the same as it did last year and the year before. Why?