The Estin Report: March and YTD 2015 Aspen Snowmass Real Estate Market Snapshot was released early April 4, 2015 inCurrent Reports

The Estin Report: The 4th Quarter and Year 2014 State of the Aspen Real Estate Market was released online Feb 7th inCurrent Reports.The print edition is available in racks around town and at Sotheby’s offices at 415 Hyman St Mall and 300 Spring Street (my office) opposite the new Aspen Art Museum.

See recent Before/After redevelopment ‘flip job’ examplesin prior 02/01/15 post. These are properties that have been recently or are currently being redeveloped for re-sale. This postis being updated as additional re-sale properties come on the market at significantly higher prices.

Last week’s Aspen and Snowmass sales activity appears below. Scroll down the page for photos and details of weekly sales and under contract / pending Aspen properties in the past 4 weeks. For earlier dates, use the down arrow to search the blog archives by year and date to 2008. Or useSearchEstinAspenin the menu bar to search by topic, address, subdivision, complex, date, etc. If it’s about Aspen, the information should be here.

Market Activity Week 16, April 12 – 19, 2015

Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass Village, Woody Creek and Old Snowmass properties over $250,000 excluding fractionals in the upper Roaring Fork Valley. As the MLS links below expire after 30 days, photos and written descriptions of select closed properties (those with excellent photography) are posted here to preserve an archive of sold market activity.

Closed (15):MLS #’s:111697,135551,119487,137870,131964,133157,134474,135100,135867,136502,137901,137940,138051,138533,138534. This link is valid until 05/19/2015.

Under Contract/Pending (17):MLS#’s:135629,128293,138382,128879,129453,130288,131165,132069,132645,134394,134832,136960,137030,137083,137396,137935,138577. This link is valid until05/19/2015.

April 13 – April 17, 2015 Recorded Property Transactions Pitkin County Real Estate,ADN

Aspen Snowmass Solds Last Week:

Auction Result on Sat 4/11/15

Snowmass Village Ski in Ski out home auction by ConciergeAuctions.com – absolute auction to highest bidder, no reserve, no minimum.

MLS 136960: 1581 Wood Rd, Snowmass Village, CO: 1990 built/2014 remodeled, 6,291 sq ft, 5 bdrm/5.5 ba, ski in / ski out access, 2-car garage on 50,207 sq ft lot. Listed at $7,950,000. (Original list price $14.25M and on the market since 09/28/2007.) Buyer pays 10% on top of winning bid price. Seller pays upfront marketing costs which are reimbursed by Concierge Auctions at closing. Seller also pays broker commissions.

The Auction was held on Sat 04/11/15 at Noon. There were (9) registered bidders. Bid History: started at: $3M, then bid at 3.5, then 4M x 2 bids, 4.2, 4.4, 4.6, 5, 5.1 going once, twice and for the last time…SOLD… $5,100,000 was winning bid + $510,000 (10% Buyer Premium). $5,610,000/$892 sq ft is effective Buyer Price. The property is now under contract, and there is a period of buyer due diligence prior to Closing.

Last Week’s Solds

MLS #135100 – Mountain House Lodge Site: (1) 12,000 Sq Ft Single Family Lot or (2) Single Family Vacant Lots, East Add Sub, Central Core, 905 E Hopkins Avenue, Aspen, CO: Sold Price: $10,100,000. More details below photos.

MLS #135100 – Mountain House Lodge Site: (1) 12,000 Sq Ft Single Family Lot or (2) Single Family Vacant Lots, East Add Sub, Central Core, 905 E Hopkins Avenue, Aspen, CO: Sold Price: $10,100,000; Asking Price: $11,995,000. (Original Price: $11,995,000 and 286 days on the market since 07/02/2014.) This is a 12,000 sq ft single family lot in Aspen. Broker comments are “Rarely does a downtown Aspen corner property become available for purchase. Even more special is this opportunity with views of Aspen Mountain, the privacy of East Hopkins Avenue and walkability to shops, restaurants and skiing. On the corner of Hopkins Avenue and South West End Street, this 12,000 square foot corner lot that allows for single family, luxury condo or lodge development. City of Aspen Ordinance in place allows for creation of two single family lots through a lot split. The Mountain House Lodge currently occupies the property and can provide income prior to redevelopment of the property. See listing agents for various development summaries. Excellent opportunity to own and develop (see multi-family development planning analysis) a unique Aspen property. Build a single family house on an over-sized lot or take advantage of the ability to perform a lot split and build one or two homes (you can always sell the second lot). Luxury condo or lodge development options allow for maximizing FAR. Up to 18,000 square feet of Floor Area can be achieved and 32 feet in height is allowed for multi-family development in the zone district. The existing lodge is profitable and the current owner is willing to enter an agreement operate the lodge for a period of time after closing. Take advantage of the City’s incentives to retain existing lodges and encourage new lodge development.” 2013 Taxes: $39,283. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/03/2015; Sold Date: 04/14/2015.(Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #134474 – Townsite of Aspen, Central Downtown Core Commercial, 410 E Hyman Avenue, Aspen, CO: Sold Price: $9,500,000 sq ft. More details below photos.

MLS #134474 – Townsite of Aspen, Central Core Downtown Commercial, 410 E Hyman Avenue, Aspen, CO: Sold Price: $9,500,000 sq ft. Asking Price: $9,990,000. (Original Price: $9,990,000 and 316 days on the market since 06/01/2014.) This is a 1963 built, 10,920 sq ft commercial on a 5,832 sq ft lot. Broker comments are “Aspen commercial building with great potential for upside! Right on the Hyman Avenue Mall with lots of windows & views. Tenants include ”Tesoro Aspen”, ”Omnibus Gallery” and the all new ”Hops Culture” restaurant & bar with outdoor Mall dining. There are also 5 residential apartments and one parking space. SF size per owner.” 2014 Taxes: $61,253. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/12/2015; Sold Date: 04/13/2015. (Photos and broker comments courtesy of Setterfield & Bright)

MLS #133157 – Best Deal of 2015 YTD: West End, 930 W Francis Street, Aspen, CO: Sold Price: $3,880,000/$796 sq ft; unfurnished. More details below photos.

MLS #133157 – West End, 930 W Francis Street, Aspen, CO: Sold Price: $3,880,000/$796 sq ft; unfurnished; Asking Price: $4,495,000. (Original Price: $5,500,000 and 766 days on the market since 01/15/2013.) This is the best buy for 2015 year to date – for location on the edge of the Historic West End with great walkability everywhere, proximity to public transportation, and overall condition and niceness of home…The property is a 2000 built, 4 bedroom/4 bath/2 half-bath, 4,874 sq ft single family home with partial AC, radiant heat amd 2 car garage on a 6,735 sq ft lot. Seller paid $3.9M 05/12/11. Broker comments are “Warm & inviting home offering tranquility & privacy in the quiet West End. Impeccably maintained & recently upgraded, the home offers a high level of new finishes & amenities with wonderful living spaces indoors & out. The upper level living spaces, guest master, and kitchen share views towards Tiehack, while the large south-facing & west-facing deck is accommodating for dining or just soaking up the sun. This exceptional property is close to the amenities of downtown.” 2014 Taxes: $11,618. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/17/2015; Sold Date: 04/16/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #137870 – Aspen Club, East Aspen, 1425 Crystal Lake Rd Unit #3, Aspen, CO: Sold Price: $2,750,000/$1,057 sq ft; unfurnished. More details below photos.

MLS #137870 – Aspen Club, East Aspen, 1425 Crystal Lake Rd Unit #3, Aspen, CO: Sold Price: $2,750,000/$1,057 sq ft; unfurnished; Asking Price: $2,700,000. (Original Price: $2,700,000 and 42 days on the market since 03/02/2015.) This is a 1976 built, 4 bedroom/4 bath, 2,600 sq ft condo. Broker comments are “Riverfront at the Aspen Club. This four bedroom unit is a great candidate for an interior update. The complex is undergoing an exterior remodel. Three wood-burning fireplaces, large windows overlooking the Roaring Fork River, generously sized bedrooms and a carport complete this townhome offering.” 2014 Taxes: $5,873; HOA Dues: $9,536. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/09/2015; Sold Date: 04/13/2015. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #135867 – Chateau Eau Claire, Central Core, 1034 E Cooper Avenue 2-A, Aspen, CO: Sold Price: $1,975,000/$1,367 sq ft; furnished. More details below photos.

MLS #135867 – Chateau Eau Claire, Central Core, 1034 E Cooper Avenue 2-A, Aspen, CO: Sold Price: $1,975,000/$1,367 sq ft; furnished; Asking Price: $2,350,000. (Original Price: $2,350,000 and 223 days on the market since 08/26/2014.) This is a 1972 built and 2009 remodeled, 3 bedroom/2 bath, 1,444 sq ft condo. Broker comments are “Enjoy in-town living with this stunning 3 bedroom corner unit overlooking the river. Sophisticated furnishings throughout. Two wood burning fireplaces, Steam shower, Pool amenities and much more. Pets allowed by owner.” 2013 Taxes: $3,736; HOA Dues: $4,155. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/25/2015; Sold Date: 04/06/2015. (Photos and broker comments courtesy of Weaver & Briscoe)

MLS #137940 – South Point, Central Core, 205 E Durant Street 3 B, Aspen, CO: Sold Price: $1,700,000/$1,655 sq ft; partial furnished. More details below photos.

MLS #137940 – South Point, Central Core, 205 E Durant Street 3 B, Aspen, CO: Sold Price: $1,700,000/$1,655 sq ft; partial furnished; Asking Price: $1,625,000. (Original Price: $1,625,000 and 51 days on the market since 2/23/2015.) This is a 1967 built, 2 bedroom/2 bath, 1,021 sq ft condo. Multiple bids, buyer is an owner of a lower floor unit. Broker comments are “…Top floor penthouse condo facing Aspen Mountain. This one has it all. Warm charming décor with custom painted mural, wood floors, skylights, balcony, fireplace, a/c, washer/dryer. The building offers security, garage, elevator, ski locker and extra storage. Be a part of the Lift 1A redevelopment Renaissance.” 2014 Taxes: $2,980; HOA Dues: $5,380. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/16/2015; Sold Date: 04/15/2015. (Photos and broker comments courtesy of BJ Adams and Company – Aspen)

MLS #136502 – Chateau Blanc, Central Core, 901 E Hyman Avenue Unit #10, Aspen, CO: Sold Price: $1,050,000/$1,136 sq ft; furnished. More details below photos.

MLS #136502 – Chateau Blanc, Central Core, 901 E Hyman Avenue Unit #10, Aspen, CO: Sold Price: $1,050,000/$1,136 sq ft; furnished; Asking Price: $1,100,000. (Original Price: $1,100,000 and 180 days on the market since 10/17/2014.) This is a 1966 built and 2013 partial remodel, 2 bedroom/2 bath, 924 sq ft condo. Keep as is, or excellent remodel candidate. Broker comments are “Immaculate turn-key, top floor, corner, 2-bedroom and 2-bath condominium captures plenty of natural light as well as beautiful sunsets. The living room features a wood-burning fireplace and views of Aspen Mountain from the private balcony off the sliding glass doors. The bathrooms are recently remodeled with granite and glass enclosures. All kitchen appliances upgraded. An easy 4 block stroll places you at the base of Aspen Mountain to enjoy world-class skiing, incredible shopping and fine dining! Chateau Blanc is a quaint, well-maintained complex with dedicated and highly experienced on-site management.” 2013 Taxes: $2,387; HOA Dues: $200/month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/22/2014; Sold Date: 04/15/2015. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #138051 – Midland, Central Core, 601 S West End Street #1, Aspen, CO: Sold Price: $575,000/$1,032 sq ft; unfurnished. More details below photos.

MLS #138051 – Midland, Central Core, 601 S West End Street #1, Aspen, CO: Sold Price: $575,000/$1,032 sq ft; unfurnished; Asking Price: $595,000. (Original Price: $595,000 and 21 days on the market since 03/16/2015.) This is a 1969 built, 1 bedroom/1 bath, 557 sq ft ground level condo. Broker comments are “Terrific downtown condo with parking and fireplace. Located next to Glory Hole Park. Lower level corner unit. Walk everywhere. Low condo dues.” 2014 Taxes: $1,448; HOA Dues: $1,450. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/22/2015; Sold Date: 04/06/2015. (Photos and broker comments courtesy of Silver City LLC)

MLS #111697 – Woody Creek, 60 Doc Henry Road, Woody Creek, CO: Sold Price: $2,950,000/$972 sq ft; partial furnished. More details below photos.

MLS #111697 – Woody Creek, 60 Doc Henry Road, Woody Creek, CO: Sold Price: $2,950,000/$972 sq ft; partial furnished; Asking Price: $3,295,000. (Original Price: $4,500,000 and 1,951 days on the market since 06/18/2009. It went under contract on 10/30/12.) This is a 1990 built and 1997 remodeled, 5 bedroom/3 bath/1 half-bath, 3,033 sq ft single family home with 2 car garage on a 123,275 sq ft lot. Broker comments are “One of a kind river frontage at the confluence of Woody Creek and the Roaring Fork River offering outstanding fishing opportunities. Classic, extremely well built, hand hewn Engleman Spruce log home, nestled in the towering trees which provide shade and privacy on this 2.83 acre homesite. A total of 5 beds plus den/office and 3.5 baths, including a legal 2 bed/1 bath mother-in-law apartment, this cozy log cabin is ready to live in or awaits your personal touches. Truly a special spot for your buyer who’s gotta have the river!” 2011 Taxes: $7,126. Under Contract Date: 10/30/2012; Sold Date: 04/14/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #119487 – Capitol Creek, Old Snowmass, 31 acre ranch, 1501 Rose Spur Road, Snowmass, CO: Sold Price: $6,500,000/$765 sq ft; unfurnished. More details below photos.

MLS #119487 – Capitol Creek, Old Snowmass, 31 acre ranch, 1501 Rose Spur Road, Snowmass, CO: Sold Price: $6,500,000/$765 sq ft; unfurnished; Asking Price: $7,500,000. (Original Price: $9,500,000 and 1,471 days on the market since 01/19/2011.) This is an Old Snowmass 1997 built, 4 bedroom/4 bath/1 half-bath, 8,488 sq ft single family home with 2 car garage on a 1,339 sq ft lot, approx. 31 gorgeous acres. Beautiful ranch property. Broker comments are “Enjoy the splendor of rural living from this idyllic setting in the Capitol Creek Valley. Situated on over 30 acres within the 823 acre, McCabe Ranch, you will enjoy privacy and spectacular views. This wonderful ranch home is a beautiful 5,862 square foot, 4 bedroom, 4.5 bath and features inviting spaces both inside and out. Thoughtfully designed, there is a 2 bedroom guest wing above the garage and a detached 2,626 sq.ft. artist’s studio with a 1 bedroom guest/caretaker apartment. Located within the magnificent McCabe Ranch, in Old Snowmass, enjoy equestrian facilities, ranch manager and polo operations. Extensive trails throughout the property for horseback riding, hiking or cross country skiing. A must-see to appreciate the wonderful character of the property.” 2014 Taxes: $17,473 (agriculture); HOA Dues: $15,172. Under Contract Date: 03/17/2015; Sold Date: 04/13/2015.(Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)

MLS #135551 – Ridge Condominiums, Snowmass, 229 Faraway Road #15, Snowmass Village, CO: Sold Price: $1,030,000/$648 sq ft; furnished. More details below photos.

MLS #135551 – Ridge Condominiums, Snowmass, 229 Faraway Road #15, Snowmass Village, CO: Sold Price: $1,030,000/$648 sq ft; furnished; Asking Price: $1,149,000. (Original Price: $1,149,000 and 1,725 days on the market since 01/15/2010.) This is a 1982 built and 2008 remodeled, 3 bedroom/3 bath, 1,588 sq ft condo. Broker comments are “Remodeled inside and out, this 3-bedroom, 3-bath condo has 1,588 square feet and a 1-car carport plus storage. Good ski-in/ski-out access via Assay Hill and close proximity to the complex’s heated pool and hot tub. Large patio surrounded by trees is a rare find (brand new patio installed June 2012), offering privacy and a terrific place to entertain. Other amenities include east, first-floor access with no stairs, high ceilings, open living spaces, gas fireplace, steam shower in master bath and sophisticated finishes and furnishings. The Ridge complex completed a gorgeous exterior renovation in 2008.” 2014 Taxes: $3,357; HOA Dues: $3,224. Under Contract Date: 03/11/2015; Sold Date: 04/15/2015.(Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)

MLS #137901 – Viceroy, Snowmass, 130 Wood Road 613, Snowmass Village, CO: Sold Price: $765,000/$728 sq ft; furnished. More details below photos.

MLS #137901 – Viceroy, Snowmass, 130 Wood Road 613, Snowmass Village, CO: Sold Price: $765,000/$728 sq ft; furnished; Asking Price: $829,000. (Original Price: $829,000 and 827 days on the market since 02/16/2010.) This is a 1 bedroom/2 bath, 1,050 sq ft condo. Broker comments are “New Condominium units now available at the world-acclaimed Viceroy. Ski in-Ski-out in Snowmass’ Base Village, there is nothing else like in the Aspen/Snowmass market for wholly-owned condominiums. Leed Gold Certified Property. One time Base Village Metro Fee paid by Buyer of $5,150.” 2014 Taxes: $6,295; HOA Dues: $6,785. Under Contract Date: 02/26/2015; Sold Date: 04/14/2015.(Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)
MLS #131964 – Wood Run Place Condos, Snowmass, 425 Wood Road 13, Snowmass Village, CO: Sold Price: $325,000/$271 sq ft. More details below photos.

MLS #131964 – Wood Run Place Condos, Snowmass, 425 Wood Road 13, Snowmass Village, CO: Sold Price: $325,000/$271 sq ft; Asking Price: $422,500. (Original Price: $599,900 and 869 days on the market since 12/01/2011.) This is a 1983 built, 2 bedroom/2 bath/1 half-bath, 1,199 sq ft condo. Broker comments are “2-bedroom, 2-1/2-bathroom in Wood Run Place. This property is on multiple levels and includes an outside entrance at the 2nd bedroom with direct access to the hot tub and pool via a snowmelt walkway. The living room features high vaulted ceilings an exterior balcony with Northwesterly view towards Fanny Hill, a full kitchen, a half bath and washer/dryer. Excellent HOA amenities, ski-in/out location, lockable owners storage, front desk check-in, ski service center on site, and airport transportation. This unit also has a reserved, covered parking space. See attachment for PAS requirements and WFHM offer submittal information in MLS document section” 2013 Taxes: $2,131; HOA Dues: $25,320. Under Contract Date: 03/02/2015; Sold Date: 04/14/2015.(Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

No Photos in MLS for this Aspen Central Core Commercial:

MLS #138534 – Central Downtown Core Commercial, 415 E Hyman Avenue 16, Aspen, CO: Sold Price: $4,550,000 sq ft. Asking Price: $4,550,000. (Original Price: $4,550,000 and on the market since 04/13/2015.) This is a 1972 built, 3,588 sq ft commercial. No broker comment. 2015 Taxes: $15,546; HOA Dues: $15,564. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/13/2015; Sold Date: 04/13/2015. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

No Photos in MLS for this Aspen Central Core Commercial:

MLS #138533 – Central Downtown Core Commercial, 419 E Hyman Avenue 5, Aspen, CO: Sold Price: $1,950,000 sq ft. Asking Price: $1,950,000. (Original Price: $1,950,000 and 7 days on the market since 04/06/2015.) This is a 1888 built, 1,930 sq ft commercial. No broker comment. 2015 Taxes: $10,779; HOA Dues: $8,476. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/13/2015; Sold Date: 04/13/2015. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

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Disclaimer: The statements made in The Estin Report and on Aspen broker Tim Estin’s blog represent the opinions of the author and should not be relied upon exclusively to make real estate decisions. A potential buyer and/or seller is advised to make an independent investigation of the market and of each property before deciding to purchase or to sell. To the extent the statements made herein report facts or conclusions taken from other sources, the information is believed by the author to be reliable, however, the author makes no guarantee concerning the accuracy of the facts and conclusions reported herein. Information concerning particular real estate opportunities can be requested from Tim Estin at970.309.6163or byemail.The Estin Report is copyrighted 2015 and all rights reserved. Use is permitted subject to the following attribution with a live link to the source:“TheEstin Reporton Aspen Real Estate.”

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