Mark Hunt buys Red Onion building for $18 million
October 6, 2015
Developer Mark Hunt has closed on his purchase of the Red Onion building on Aspen's East Cooper Avenue pedestrian mall.
Hunt, through his newly formed 414-422 East Cooper Avenue LLC, bought the building for $18 million, according to the Pitkin County Clerk and Recorder's Office.
Public records also show Hunt's LLC borrowed $13 million from Jefferies LoanCore to fund the purchase.
Hunt didn't return a phone message Monday seeking comment about the acquisition.
Last month, the bullish developer told The Aspen Times he had the building under contract. The Red Onion structure, which has multiple addresses on Cooper Avenue, includes the namesake bar and restaurant, a yoga studio, a ski-apparel shop, apartment units and office space.
The properties comprise eight LLCs that are controlled by such Aspen figures as attorneys Ron Garfield and Andrew Hecht, as well as his son Nikos, and Steven Hansen. The building sits on 9,000 square feet of land.
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The part of the Red Onion building occupied by the Aspen Shakti Shala yoga studio allows for the construction of a penthouse on top of it.
Hunt also has the Casa Tua building and the one next to it, both on the 400 block of East Cooper Ave., under contract for purchase. He also owns the nearby Bidwell Building, which he plans to raze and replace.