Giant Mandalay Ranch now on market
July 23, 2002
The largest and priciest piece of real estate in Aspen – and possibly in the history of local property sales – is now available in its entirety.
All 650 acres of the Mandalay Ranch, the Owl Creek Valley property owned by Hollywood magnate Peter Guber, is now up for grabs, a local real estate agency announced this week. And all a perspective buyer needs is a love of local wildlife and $63 million.
Mandalay Ranch first made real estate listings in 1998, when Guber put a 450-acre parcel of the property – the so-called “western ranch” – on the auction block. At the time, Guber planned to keep 80 acres of the property to retain his family home.
However, prospective buyers who toured the ranch at the time were looking for more, said Bob Ritchie, the Coates, Reid and Waldron representative for the property.
“Every person who looked at the western 450 [acres] was interested in buying all of it,” he said. “Literally 95 percent of the people looked to list [the ranch] in two ways: sell the entire ranch, all 650 acres, or just the western ranch, 450 acres.”
The western section of the Mandalay Ranch, now available for $29 million, includes 450 acres of open land, eleven additional 35-acre ranch parcels, an approved building site for a 15,000-square-foot home, picnic grounds and access to Spring Creek.
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Buyers looking to pick up all 650 acres for $63 million receive a 15,000-square-foot home, two guest cabins and a 7,500-square-foot barn complete with four bedrooms and two living suites. Ads boast that the barn can be replaced with a new 7,500-square-foot home.
The ranch, billed as an “extraordinary trophy property” in local real estate ads, may be the ultimate in ski-in, ski-out housing. The property runs from Buttermilk Mountain to the Snowmass Ski Area, and a private snowcat will shuttle owners to and from the slopes. Ranch residents can also ski home from Burnt Mountain, Ritchie said.
The land also accesses both Spring and Owl creeks, which in turn feed a small waterfall near the ranch’s main house.
“Land this nice doesn’t even exist around Colorado,” Ritchie said. “You don’t have enough ink to print all of the possibilities that might come out of it. This is a once-in-a-lifetime type of property.”
Ritchie could not confirm whether Guber and his family will leave Aspen after the sale of the ranch. However, the property has attracted the attention of two “very qualified buyers” in the last week, Ritchie said, and will be toured again by a third party today or Wednesday.
The ranch has also attracted the attention of a number of local wildlife activists over the years. The expansive acreage often plays host to wandering elk herds, whose migration is occasionally impeded by the wildlife fences that line Mandalay Ranch. The seasonal opening and closing of fence gates is often a subject of debate among ranch managers and local wildlife officials.
Jennifer Davoren’s e-mail address is email@example.com.