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

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.


Support Local Journalism

Support Local Journalism

Readers around Aspen and Snowmass Village make the Aspen Times’ work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.

Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.

Each donation will be used exclusively for the development and creation of increased news coverage.