Aspen Colorado is famous not just because of it's skiing, take a look at some of our wealthiest owners who call Aspen's Red Mountain Home. One of the mose exclusive properties and areas anywhere. Erik Aspen, Colo., has long been up to its waist in both snow and dough. The mountain town got its start pulling silver from the ground and of late has become especially skilled at yanking platinum Continue Reading
Toll Brothers Announces Bid to buy the Snowmass Club
ASPEN, Colo.—Aspen Skiing Co. says it is under contract to sell the Snowmass Club to a division of Toll Brothers Inc. The company said Wednesday that the sale to Toll Golf is expected to close in January. The price wasn't disclosed. This will be interesting to see if the transaction is finalized. In Real Estate, Due Diligence is everything. The Snowmass Club is somewhat complex in it's Continue Reading
Early Hotel Bookings Lower Due to Weather Conditions
Erik Cavarra of Alpine Real Estate believes that early Season Bookings may be off it's normal occupancy pace because of the low snow and weather conditions. Being a Golfer, playing Aspen Golf Course in November is a good thing, playing the same course in December could be an indication that Future Resort bookings remain at Par or worse if we don't receive Snow. Aspen & Snowmass is known for Continue Reading
The Aspen 50 – Forbes billionaires in Pitkin County
At least 50 billionaires on Forbes’ most recent wealth lists own property or have strong ties to property in the Aspen area. Their combined net worths total more than $242 billion and the value of their local personal property tops $741 million. But these billionaires’ stake in Aspen is greater than the sum of their local property values. Besides playing a significant part in Aspen’s Continue Reading
Maroon Creek estate sells for $21 million
ASPEN—A Maroon Creek spec home that went on the market shortly in the depths of the recession has sold for $21 million, marking the second most expensive home sale of the year. Called the “Residence at Maroon Creek” in marketing materials, the nearly 15,000-square-foot “European country home” sits on about two acres fronting Maroon Creek just past Aspen Highlands, and can be seen from the road Continue Reading
Expert: Shifting attitudes, spending habits of wealthy will impact Aspen
ASPEN—Wealth expert Jim Taylor of the Harrison Group had some words of wisdom for an audience chock full of real estate and development professionals at the 2012 Aspen/Snowmass State of the Real Estate and Tourism Economy Symposium on Thursday afternoon. Actually, he had a lot of them. Armed with a dizzying array of statistics from his firm’s research into the thoughts, habits, and spending Continue Reading
Boogie’s ranch on the market for $28 million
ASPEN—Merry-Go-Round Ranch, the home of Aspen retail and diner entrepreneur Leonard “Boogie” Weinglass, is on the market for $28 million. The 21-acre property on McLain Flats could be described as a sports nut’s dream. A 13,000-square-foot fitness facility includes an NBA-caliber basketball court, indoor track, and tennis court. Then there’s the land, which includes a barn, horse pastures, and Continue Reading
$90M Base Village purchase price doesn’t tell whole story
ASPEN—The Related Companies affiliate that closed on the acquisition of Base Village last week paid $90 million for the collection of properties at the base of Snowmass Ski Area, public records show, while securing a nearly $150 million loan. It may seem like a low purchase price for the base area assets, which were once touted as a $1 billion development. But several factors need to be Continue Reading
Market adjusts to ‘new normal’
ASPEN—If there’s such a thing as a “new normal” when it comes to real estate sales, then the Aspen/Snowmass market just might be knocking on that re-calibrated door these days. While Pitkin County saw double the dollar volume in sales during July, $78.7 million, as compared to the same month in 2011, the base number was the weakest single month in at least seven years. All told, there were 47 Continue Reading
Starwood estate was mistress’s hideaway
ASPEN—A Starwood estate associated with a national political sex scandal is on the market for $19.95 million. Real estate blog Curbed.com reported earlier this week that former presidential candidate John Edwards’ pregnant mistress Rielle Hunter hid out during the 2008 presidential race in a 14,000-square-foot stone Starwood mansion designed by architect Robert A.M. Stern, prior to the scandal Continue Reading
