What’s the Big Deal: $19 million home purchase a $5M-plus flip

What’s the Big Deal runs Mondays is based on the prior week’s most expensive property transaction recorded in the Pitkin County Clerk & Recorder’s Office.

511 Lazy Chair Ranch Road/Courtesy photo

Price: $19 million

Date recorded: Dec. 14

Buyer: Yellow Rose of Aspen LLC

Seller: Lazy Chair Holdings LLC

Address: 511 Lazy Chair Ranch Road (with home) and vacant lot next door

Neighborhood: Maroon Creek Club

Property type: Residential

Year built: Lot 2 — actual, 1953; effective, 1973; Lot 3 — vacant

Total heated area: 4,589 square feet

Lot size: Lot 2, 2.4 acres; Lot 3, 2 acres

Assessor’s office actual value: Lot 2, $4,181,500; Lot 3, $2,812,500

Assessor’s office assessed value: Lot 2, $298,980; Lot 3, $201,090

Property tax bill: Lot 2, $10,245.16; Lot 3, 2 acres

Source: Assessor’s Office and Clerk & Recorder’s Office, Pitkin County

Worth noting: The seller bought both lots and the house for $13.67 million in a deal that was recorded Sept. 17. Nearly two months after the purchase, the seller flipped the property for $5.33 million more than what it was acquired two months ago.