Two home sales = $35 million
ASPEN The glory days of Pitkin County real estate may be gone for now, but two transactions Wednesday showed that the big bucks are still out there.A home on Red Mountains Willoughby Way fetched $20.75 million, while one in the Two Creeks subdivision of Snowmass Village reeled in $14.5 million, according to data filed yesterday in the Pitkin County Clerk & Recorders Office. Thats a big day, said Greg Hunter, a broker with Aspen real estate agency Morris & Fyrwald. Hunter did not have a role in either acquisition.The 109 Willoughby Way home, bought by The Ponds LLCs from financier Thomas C. Quick, marked the second biggest single-family home transaction of 2008. In April, Russian oil tycoon Roman Abramovich plopped down $36.375 million for Leon Hirschs Wildcat Ridge estate. Eugene Shvidler, meanwhile, became the newest Russian to join the Aspen-Snowmass family of property owners, with his $14.5 million purchase of the 202 E. Fork Lane home in Two Creeks. The seller, records show, was Two Creeks 46 Residence LLC. According to Forbes, Shvidler is a billionaire who ranked No. 161 on the magazines richest people list in 2007.He also is a business partner of Abramovich, having jointly established the oil empire Runicom in the early 1990s.Local real estate broker Joshua Saslove, whose firm had a role in the Willoughby estate transaction, said: “These are people who are in a financial position to purchase quality properties and there will always be a demand for premium properties in Aspen.There is a confidence in Aspen real estate and it’s being exhibited by these purchases.Wednesdays flurry comes at time when Pitkin Countys real estate market, like the rest of the nations, is seeing sales volume plunge.For the first half of this year, transactions were 32 percent behind the same period in 2007. Also, the first half of this year netted $717 in sales, compared to $1.43 billion for the same period in 2007, according to a report from Land Title Guarantee Co.
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The city of Aspen is supposed to break ground on 300-plus housing units in 2024 but if Monday’s meeting with elected officials is any indication, the project could take years before coming online.