What’s the Big Deal: $7.575 million for Buttermilk home | AspenTimes.com

What’s the Big Deal: $7.575 million for Buttermilk home

Price: $7.575 million

Address: 501 W. Buttermilk Road

Buyer: 501 Buttermilk LLC

Seller: Timothy and Courtney Presutti

Property type: Single-family residential

Year built: 2008

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Total heated area: 7,707 square feet

Total land: 37.082 acres

2014 property tax bill:

Worth noting: The sellers bought the property for $6 million, $1.575 million less than last week's transaction. Most recently, the seven-bedroom, seven-bath property was listed for $8.995 million.

Buzzworthy

• On the rise: Aspen home prices have increased six straight quarters. That's according to housingpredictor.com, which reported this week that Aspen has the most expensive homes in the state. While that's hardly a shocker, the report noted that Aspen's median sales price rose 46 percent from April 2014 to $3.2 million.

"Those looking to purchase homes in Aspen are looking to buy more space, as well," the report said. "The average size of sold homes increased 18.5 percent from the same time a year ago to 3,015 square feet, and the average price per square foot now exceeds the price per square foot in Manhattan, New York. This is a great investment for millionaires, but for all others look to nearby Snowmass for a more reasonable price per square foot."

• Architectural firm honored: The American Institute of Architects Colorado Chapter recently named Basalt-based Cottle Carr Yaw Architects, also known as CCY, as Colorado's Firm of the Year for 2015.

The award was presented Oct. 15 during an industry conference and awards ceremony in Keystone.

"CCY is widely respected for creating consistently outstanding architecture that beautifully embodies our regionally inspired style and values. The jury's selection of CCY as AIA Colorado's Firm of the Year award acknowledges the maturity and depth of their portfolio and practice," said Scott Rodwin, Colorado jury chair for the American Institute of Architects.

Locally, CCY has designed Buttermilk Children's Ski Center, The Hideout, Snowmass Ski Area's mid-mountain base Elk Camp, Limelight Hotel, The Little Nell and numerous residences.