What’s the Big Deal: $22 million for Red Mountain lot, home
“What’s the Big Deal?” runs Sundays and is based on the most expensive property transaction recorded in Pitkin County through 3 p.m. each Friday.
Price: $22 million
Date recorded: June 27
Address: 101 American Lane, Red Mountain
Property type: Single-family residential
Year built: 1965; effective year built, 1985
Buyer: 101 American Way LLC
Seller: Mitchell Marian Rubey Trust
Total heated area: 6,614 square feet
Land: 11.7 acres
Property tax: $23,775.40
Brokers: Erik Berg, seller; Ryan Smalls, buyer
Worth noting: A vested property rights and development agreement, dated Nov. 15, 2007, allows for the development of a home with as many as 15,000 square feet of floor area on Lot 5, the 11.7-acre lot that was sold and is part of the 40-plus acre Rubey subdivision. The square footage could expand through the use of transferrable development rights. The property rights expire Sept. 26, 2021.
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To level the playing field between those who pay sales and lodging taxes on nightly rentals and those who skirt them, the city is ready to take names and make them pay.