What’s the Big Deal: $22 million for Red Mountain lot, home | AspenTimes.com

What’s the Big Deal: $22 million for Red Mountain lot, home

Staff report

“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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