What’s the Big Deal: $9.5 million for Red Mountain home
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 through 3 p.m. each Friday.
Price: $10 million
Date recorded: Feb. 16
Address: 362 Red Mountain Road
Buyer: Red Mountain Estates LLC, Dallas
Seller: Robert Neal Rubey Trust, Houston
Property type: Single-family residential
Year built: 1977
Total heated area: 3,176 square feet
Lot size: 6.4 acres
Features: Four bedrooms, 21/2 baths
2014 property tax bill: $12,774.20
Aspen-area real estate saw three out of every five single-family home sales last year top $5 million. That’s according to broker Andrew Ernemann, who spoke at Thursday’s Aspen Business Luncheon.
“I bet there aren’t any markets like that in the rest of the world,” he said.
Ernemann, a self-professed “real estate numbers geek,” fed the packed house at Mountain Chalet with dozens of statistical real estate nuggets. Among them: Downtown Aspen last year registered 16 residential sales with the price per foot topping $2,000. In 2014, there were eight. But the wave of buyers of downtown property aren’t likely to have sticker shock, Ernemann said. That’s because they do business in cities such as San Francisco and New York, where $7,000 a square foot isn’t unusual. Better yet, try Hong Kong, where paying $20,000 per square foot will make you a property owner.