Hunt sells New York Pizza and Green Dragon building for $5 million
The Aspen Times
Jeremy Wallace/The Aspen Times |
Developer Mark Hunt, who’s usually on the buying side of commercial property deals in Aspen, flipped a building last week for $5 million, good enough for a $250,000 profit.
Hunt sold the two-story, 3,920-square-foot property at 409 E. Hyman Ave., which is home to New York Pizza and the Green Dragon marijuana dispensary, for $5 million, according to Pitkin County property records. He acquired the building in July 2014 for $4.75 million.
The buyer, Norton LLC, is controlled by Lisa Leder of Florida. Leder is the ex-wife of private equity executive Marc Leder, who co-founded Sun Capital Partners and is a minority owner of the Philadelphia 76ers and New Jersey Devils. The two divorced in 2009, with Lisa Leder reportedly pocketing hundreds of millions of dollars.
Leder didn’t return messages Tuesday requesting her intentions for the downtown building. Hunt, who is campaigning for the passage of his proposed Base2 Lodge on Main Street in the November election, also didn’t respond to messages.
The change of ownership, which was recorded Thursday by the Pitkin County Clerk and Recorder’s Office, also came a day after the Green Dragon changed ownership.
Denver-based Greenwerkz closed on its reported $8 million acquisition of the Green Dragon Cannabis Co., which comprised the Aspen shop and two Green Dragon stores in Glenwood. The deal also included a 16,000-square-foot cannabis-cultivation facility in Glenwood Springs. Greenwerkz has no connections to Lisa Leder, said company President Ryan Milligan in an email responding to questions from The Aspen Times.
The Green Dragon name will remain the same, according to a statement issued Monday by Greenwerkz, which now owns five dispensaries in the state.
“We believe that the adoption of this name gives us a unique branding opportunity,” Milligan said.
A number of employees under the old Green Dragon were let go as a result of the new ownership.
“Unfortunately, with any business acquisition, difficult decisions have to be made, and some employees were let go,” Milligan said. “However, we are now hiring sales associates and retail management positions.”
He added that the Aspen and Glenwood locations are accepting job applications from Marijuana Enforcement Division-licensed individuals.
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