Aspen penthouse fetches $15.8 million

Rick Carroll
The Aspen Times
The penthouse on top of the Muse Building, located at 601 E. Hyman Ave., sold for $15.8 million this week.
Aubree Dallas/The Aspen Times |

Hot properties

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

Type: Single-family

Price: $23 million

Date: Sept. 3

Buyer: CB Real Estate

Seller: 979 Aspen LLC

Address: 979 Red Mountain Road

Type: Single-family

Price: $20 million

Date: Aug. 7

Buyer: Bemar LLC

Seller: Willoughby Partners LTD

Address: 865 Willoughby Way

Type: Single-family

Price: $19 million

Date: April 17

Buyer: Aspen Stream LLC

Seller: James A. Morse Trustee

Address: 855 Bay St.

Type: Single-family

Price: $17 million


Buyer: Three LLCs controlled by Paul and Sandra Edgerley

Seller: Mother Lode Investors

Address: 314 E. Hyman Ave.

Type: Condo

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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