What’s the Big Deal: $29.5 million Red Mountain home sale is biggest of the year
December 19, 2015
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.
Price: $29.5 million
Address: 155 and 200 Sabin Road
Subdivision: Red Mountain Ranch
Buyer: Red Mountain Trust
Seller: 0155 Sabin Road LLC
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Property type: Single-family residential
Total heated area: 16,961 square feet
Total acres: Approximately 6
Property tax bill: $66,491
Worth noting: This marked Pitkin's County's most expensive single-family sale of the year and second overall to the February sale of the Hotel Jerome and former Aspen Times building for $72.5 million.
Known as the Summit House and marketed by Aspen Snowmass Sotheby's International Realty, the furnished property originally was listed for $65 million in October 2014. The asking price was high enough to capture loads of media attention, including a video tour by Fox 31 in Denver.
The property also includes a 4,150-square-foot guest home and a vacant lot.
"As one of the most magnificent homes ever built in Colorado, the irreplaceable size, premier location, expansive views and numerous amenities are unrivaled in Aspen," gushed marketing materials for the property, further declaring that "the size of this home cannot be duplicated under current land-use codes, making this legacy home a rare commodity, indeed." New homes in Pitkin County are capped at 5,750 square feet.
Public records link the seller to Fort Worth, Texas, resident Duer Wagner III, whose namesake oil and gas company filed for bankruptcy earlier this year, according to published reports.
• Also last week, 233 and 235 W. Hallam Ave. sold for $15 million, according to a newsletter from property broker Chris Klug. The deal had not been recorded as of Friday closing time by the Pitkin County Clerk and Recorder's Office.
• Kevin Berg, the chairman of Chicago-based Legacy Marketing Partners, sold a single-family home at the base of Aspen Highlands last week for $5.4 million. Berg bought the four-bedroom, six-bath property for $3.8 million in September 2004, property records show. The home most recently was listed for $5.8 million through Coldwell Banker Mason Morse. The new owner, Sheree Acheson of Alabama, will have access to Ritz-Carlton Club amenities.
• Garfield County registered $445 million in total real estate sales from January through October, a 7.5 percent increase over the same period in 2014. That's according to a report issued last week by Land Title Guarantee Co., which also reported that October saw $52.9 million in total sales, a 27.1 decrease from October 2014. While sales were down in October, Garfield saw 162 transactions that month, up 29.6 percent from October 2014, Land Title reported.
• The design team for the redevelopment of the Aspen Community School, Cuningham Group and Studio B Architects took home several architecture awards last week.
The team claimed both the Peak Design Award for New Construction as well as the People's Choice Award from the Association for Learning Environments, a national organization whose mission is improving the places where children learn.
The team was honored in the Rocky Mountain region for the recent redesign of its 25-acre campus, including the construction of a new schoolhouse and community hall/gym.