What’s the Big Deal? $26.7 million home sale marks Pitkin’s largest of 2015 | AspenTimes.com

What’s the Big Deal? $26.7 million home sale marks Pitkin’s largest of 2015

Rick Carroll
The Aspen Times
The $26.7 million sale of the property at 250 Willoughby Way in August was one of biggest deals of 2015.
Jeremy Wallace / The Aspen Times |

Editor’s note: “What’s the Big Deal?” runs Sundays and is based on the most expensive property transaction recorded in Pitkin County each week.

Address: 250 Willoughby Way, Red Mountain

Price: $26,723,810

Date recorded: Aug. 11

Buyer: 250 Willoughby’s LLC

Seller: 250 Aspen LLC (Gahanna, Ohio)

2014 property tax bill: $13,105.60

Construction currently is underway for the Red Mountain property, which overlooks the Rio Grande Trail. The county gave it site-plan review approval to build as much as 11,037 square feet in 2013, but it will be smaller — spanning 9,196 square feet.

The sale of the 1.4-acre property marks the highest price paid for a single-family home in Aspen in 2015 as well as in 2014. Joshua Salove of Douglas Elliman Real Estate/Joshua & Co. represented the buyer. The home, which will have eight beds, seven baths, three half-baths and a three-car garage, most recently was listed for $34.997 million. Marketing materials say the home will be built by the fall of 2016.

The previous owner, controlled by Aspen entrepreneur William Guth (who also owns Hops Culture restaurant), bought the property for $6 million Jan. 18, 2012.

Two other Pitkin County home sales have eclipsed the $20 million mark this year — a Starwood home sold for $25.7 million Jan. 29, and the Catto ranch in Woody Creek brought in $23.5 million Jan. 14, according to property records. Last years’s most expensive home sale fetched $26 million with the sale of a property at 460 Sunnyside Lane.

Buzzworthy: Pitkin County real estate sales have passed $1 billion in sales for the sixth straight year. That’s based on analysis from Land Title Guarantee Co., which reported almost $940 million in property sales through June. Combine that with some $200 million in transactions from July through Friday, property records show, and it’s another 10-figure year for real estate deals. The last year that saw less than $1 billion in sales was 2009, when Pitkin County recorded $890 million in transactions, during the country’s financial crisis.