Record Aspen Vacant Land Sale – Rubey Lot 5 at Base of Red Mountain Sells for Unsolicited Offer of $22M

June 25 – July 2, 2017 Estin Report: Last Week’s Aspen Snowmass Real Estate Sales & Stats: Closed (12) + Under Contract / Pending (8)

The redesign of this website has been delayed for a few weeks.

The Estin Report: May 2017 Aspen Real Estate Monthly Snapshot was posted in Current Reports on Mon. June 5th. The Snapshots are usually posted on or near the 1st Monday of the month. The June 2017 Snapshot is forthcoming.

Excerpt:

“There is a night and day difference between May 2017 and the same time last year. The market appears to be firing on all cylinders heading into the summer selling season. A statistic that says it all: there were (15) Aspen single family home sales in May 2017 versus (2) in May 2016, +650% (Pg 6)…One very significant investor group that currently has about 15-18 projects under redevelopment and for sale has bumped up select property prices 5% in the past two weeks in anticipation of a formidable summer.”

Estin Report: Q1 2017 & 2016 Year: State of Aspen Real Estate was released on 5/27/17 in Current Reports. The 32-Page report is available on-line as PDF and will be available in a print edition distributed in kiosks around town and at the airport on June 15th.

“Flip Job” Examples: See recent Before/After Redevelopmentin the Flip Jobs Section near the bottom of the Menu Bar on the left. These are properties that have been recently or are currently in the process of redevelopment for re-sale. This post is updated (06/14/17) as additional re-sale properties come on the market at significantly higher prices.

 A “Read more” link has been recently added under the 1st of last week’s sold properties displayed below. This will improve site performance.

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Market Activity Week 27, June 25 – July 2, 2017

Aspen Snowmass real estate weekly sales and under contract activity appears below for all Aspen, Snowmass Village, Brush Cr 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.  Scroll down the page for home 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 quickly find blog archives by year and date to 2008. Or use SearchEstinAspen in the menu bar to search by topic, address, subdivision, complex, date, etc.  If it’s about Aspen real estate, the information should be here.

Closed (12):  MLS#s 141933, 138827, 139689, 143854, 144706, 145603, 146806, 146917, 146958, 148859, 149601, 149718. This link is valid until 8/1/2017.

Under Contract/Pending (8): MLS#s 145074, 146159, 146214, 148246, 148827, 149392, 149460, 149512. This link is valid until 8/1/2017.

Aspen Snowmass Solds Last Week:  

MLS #149718 – “RUBEY LOT 5”, Red Mountain, 101 American Lane, Aspen, CO. Sold Price: $22,000,000. Aspen single family vacant lot for sale. More details below photo.

MLS #149718 – “RUBEY LOT 5” Red Mountain, 101 American Lane, Aspen, CO. Sold Price: $22,000,000. Aspen single family vacant lot for sale. Ask Price: $22,000,000. (This was an off market deal and was the Main House for Texan Marion Rubey) This is a 11.72 acres single family vacant lot. (The property does have a 6,600 sq ft 1985 built/1985 remodeled 4 bdrm/5 ba home on it but this is considered a teardown.)  “The property was the home of Houston socialite and Aspen Hall of Fame inductee Marian Rubey Lyeth Davis for more than 50 years. Her family started Maxwell House Coffee, and her four children. Catherine Rubey, Karen Rubey, Robert Rubey and the late Tina Rubey Baar’s son were listed with Marian Rubey as the property’s former owners in public records.” according to the Aspen Daily News last week. Four (4) of the total five (5) Rubey lots have been sold – one (1) remains for sale at $20M. Broker comments are “Lot 5 of the exclusive 40 acre Rubey Family Subdivision sits adjacent to Willoughby Way on lower Red Mountain and features a large pond with water rights, woodlands, and flat grounds for the buyer to build up to 19,750 square feet with vested rights that no longer exist today –and with no TDR’s required. This expansive 11.721 acre property borders Hunter Creek and public land. A very rare A+++ location walking distance to downtown Aspen while still providing privacy and great 360 views of the surrounding mountains. A vested property rights and development agreement, dated Nov. 15, 2007, allows for the development of a home with as many as 15,000 square feet of floor area on Lot 5, the 11.7-acre lot that was sold and is part of the 40-plus acre Rubey subdivision. The square footage could expand through the use of (2) TDR’s, transferrable development rights of 2,500 sq ft per TDR at a market cost of $225,000-250,000 each, for a total of approximately 19,750 sq ft. These property rights expire Sept. 26, 2021.” 2016 taxes: $23,775. Under Contract Date: 06/27/2017; Sold Date: 06/27/2017. (Photos and broker comments courtesy of Engel & Völkers)

MLS #141933 – Red Mountain Ranch, Red Mountain, 395 E Reds Road, Aspen, CO. Sold Price: $8,400,000/$1,710 sq ft; unfurnished. More details below photos.

        

MLS #141933 – Red Mountain Ranch, Red Mountain, 395 E Reds Road, Aspen, CO. Sold Price: $8,400,000/$1,710 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $8,950,000. (Original Price: $8,950,000 and 856 days on the market since 09/03/2014. The seller purchased the property for $5.5M on 9/21/15 for a gain of 53% with this sale.) This is a 1987 built and 1994 remodeled, 5 bedroom/5 bath/1 half-bath, 4,912 sq ft single family home with 2 car garage on a 32,633 sq ft lot. Broker comments are “Exclusive East Reds address. This 5 bedroom 5 ½ bath house features sweeping Independence Pass, Aspen Mountain, and Maroon Bells views from virtually every window. The lot has relatively flat topography – a rarity on Red Mountain, as well as a beautiful stream running through. The existing 4,912 sq ft house was built in a timeless mountain style and may be lived in as is, remodeled to your taste, or removed to make way for a new 8,000+ sq ft house with the addition of a TDR. Quick access to downtown Aspen makes this property desirable.” 2015 taxes: $11,696; HOA Dues: $1,544 per Yr. Under Contract Date: 04/29/2017; Sold Date: 06/27/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #144706 – Black Birch Estates, West Aspen, 75 Overlook Drive, Aspen, CO. Sold Price: $4,950,000/$793 sq ft; unfurnished. More details below photos.

        

MLS #144706 – Black Birch Estates, West Aspen, 75 Overlook Drive, Aspen, CO. Sold Price: $4,950,000/$793 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $5,750,000. (Original Price: $5,750,000 and 1,839 days on the market since 12/22/2010.) This is a 2004 built, 6 bedroom/6 bath/1 half-bath, 6,241 sq ft single family home with 2 car garage on a 16,674 sq ft lot. Broker comments are “Remarkable contemporary residence in the Black Birches subdivision with the same views as Red Mountain – from Independence Pass to Buttermilk and all mountains in between. This is arguably the best value in West Aspen! The floor plan is made for entertaining with large expansive spaces. Built from the finest quality materials such as plaster walls, Lagos blue limestone floors, Zebra marble, Anigre wood, this 6200+ square foot home includes 5 bedrooms, 5.5 baths, plus a fully contained 1 bedroom, 1 bath guest house. Add in the wine room and indoor lap pool and you can’t replace this home at this price. Located on a third acre lot that is all south-facing.” 2016 taxes: $12,247; HOA Dues: $300 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/10/2017; Sold Date: 06/26/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #138827 – Starwood, McLain Flats, 173 Buchanan Drive, Aspen, CO. Sold Price: $3,815,000/$617 sq ft; unfurnished. More details below photos.

        

MLS #138827 – Starwood, McLain Flats, 173 Buchanan Drive, Aspen, CO. Sold Price: $3,815,000/$617 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $4,495,000. (Original Price: $5,995,000 and 792 days on the market since 04/20/2015.) This is a 1995 built and 1999 remodeled, 6 bedroom/7 bath/1 half-bath, 6,178 sq ft single family home with 2 car garage on a 2.71 acres lot. This is one of the best deals of 2017 for a beautiful property with exceptional redevelopment potential. Starwood is located atop a stunning high mountain mesa with gorgeous mature aspen tree groves and vast irrigated fields and open space. It is approx. 12-15 minutes tes west of Aspen  Broker comments are “You will love this impeccably maintained home sited on one of the best lots in Starwood. Great light, high ceilings, big views, and a beautifully landscaped backyard with mature trees on 2.7 acres. Featuring five en suite bedrooms, plus a one bedroom caretaker apartment, all above grade. A generous great room and kitchen with a double sided wood-burning fireplace is a natural gathering space for family and friends. The lower level includes an additional entertaining area and a home office, while the master wing enjoys a sitting area with fireplace, large bath and dual closets. This is really an exceptional value located in Aspen’s only gated community. For more information about Starwood’s amenities, go to www.starwood.org .” 2015 taxes: $23,391. Under Contract Date: 04/24/2017; Sold Date: 06/23/2017. (Photos and broker comments courtesy of Compass)

MLS #149601 – Enclave @ Aspen, Central Core, 824 E Durant, Aspen, CO. Sold Price: $3,744,080/$940 sq ft; furnished. Sale was for 50% of the unit by buyer who had purchased the other 50% earlier. More details below photos.

     

MLS #149601 – Enclave @ Aspen, Central Core, 824 E Durant, Aspen, CO. Sold Price: $3,744,080/$940 sq ft; furnished. Ask Price: $7,750,000. (Original Price: $7,750,000 and 272 days on the market since 09/28/2016.) This Aspen townhouse sale was for 50% ownership and completes a 12/27/16  purchase of 50% at $3,625,000 by the same buyer bringing the total unit price to $7,369,080/$1,852 sq ft. This is a 4 bdrm/4.5 ba, 3,980 sq ft townhouse with 2 car garage located 2 blocks from the Aspen Mountain Gondola. Broker comments are “Rare south facing luxurious townhome located in the central core of Aspen. Enjoy Aspen Mountain views and easy downtown conveniences. This chic and and stylish home features an open and contemporary floor plan with vaulted ceiling, fireplace, hardwood floors, gourmet kitchen with breakfast bar, dining area and dumb waiter. Two spacious master suites both with fireplaces, jetted tubs and steam showers. The garden level includes 2/3 additional bedrooms ( one with private entrance), laundry room and 2 car garage plus 2 additional off-street parking spaces. A/C and radiant heat.” 2016 taxes: $16,732; HOA Dues: $4,425 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 06/09/2017; Sold Date: 06/27/2017. (Photos and broker comments courtesy of Compass)

MLS #145603 – Snow Bunny, West Aspen, 1265 Bunny Court, Aspen, CO. Sold Price: $3,348,000/$820 sq ft; unfurnished. More details below photos.

        

MLS #145603 – Snow Bunny, West Aspen, 1265 Bunny Court, Aspen, CO. Sold Price: $3,348,000/$820 sq ft; unfurnished. Aspen duplex / half-duplex for sale. Ask Price: $3,450,000. (Original Price: $3,695,000 and 826 days on the market since 06/11/2014.) This is a 2001 built, 4 bedroom/3 bath/1 half-bath/1 3/4-bath, 4,078 sq ft duplex/half-duplex with 2 car garage. Broker comments are “Located at the end of a quiet cul de sac, just a mile from the core of Aspen, this updated half duplex has the warmth and charm of a mountain-style cottage with exterior shingles, stone detailing. The main level features the living room, dining alcove, office/den, powder room and the open kitchen with access to the large outdoor terrace and private fenced yard perfect for outdoor play and entertaining. The private master suite comprises the upper level with walking closets, large bath, two outdoor decks and a hot tub. The lower level offers three guest suites and a large family room with wet bar. The 2-car garage offers plenty of storage.” 2016 taxes: $8,847. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 05/09/2017; Sold Date: 06/27/2017. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #139689 – Pitkin Green, Red Mountain, 123 Herron Hollow Road, Aspen, CO. Sold Price: $2,257,000/$1,065 sq ft; unfurnished. Red Mountain address without the views. More details below photos.

        

MLS #139689 – Pitkin Green, Red Mountain, 123 Herron Hollow Road, Aspen, CO. Sold Price: $2,257,000/$1,065 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $2,800,000. (Original Price: $3,500,000 and on the market since 4/6/15.) This is a 1976 built, 2 bedroom/2 bath, 2,119 sq ftsingle family home on a 1.01 acres lot. This property has a Red Mountain address without the views. It is literally located in a small ‘hollow’. Broker comments are “If you are looking for privacy, look no further. This quaint home sits on an acre of land at the base of Red Mountain in the desirable Pitkin Green neighborhood. Surrounded by mature landscaping the setting is peaceful and quiet yet you are only minutes from downtown Aspen. This two bedroom home is great for a couple, small family, long term tenant. Build your dream home or build on to the existing home with a substantial amount of additional square footage. Large back deck to enjoy the outdoors with stairs leading to the yard and stone fire pit. 123 Herron Hollow is within the Aspen school district and there is no RETT transfer tax.” 2016 taxes: $5,529; HOA Dues: $725 per Qtr. Under Contract Date: 03/11/2017; Sold Date: 06/30/2017. (Photos and broker comments courtesy of Aspen Associates Realty)

MLS #148859 – Aspen Village, Woody Creek, 86 Aspen Village, Aspen, CO. Sold Price: $400,000/$296 sq ft; unfurnished. More details below photos.

        

MLS #148859 – Aspen Village, Woody Creek, 86 Aspen Village, Aspen, CO. Sold Price: $400,000/$296 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $400,000. (Original Price: $400,000 and 57 days on the market since 05/04/2017.) This is a 1974 built and 2010 remodeled, 3 bedroom/1 bath/1 3/4-bath/1 den, 1,348 sq ft single family home with 1 car garage on a 3,276 sq ft lot. Broker comments are “Lovely Aspen Village home and  land. Aspen Village was formery a mobile park. This 1,347 sq ft home with 3 bedrooms, 1 3/4 bathrooms and office sits on a 3,276 sf lot. It was remodeled in 2010. The gourmet kitchen features a center, eat-at island and breakfast nook with banquette seating. Sloped ceiling in main living areas provides spacious ambiance. An open floor plan adjoins the kitchen, living and dining rooms making entertaining easy inside, and out with tall French doors that open to a spacious deck and treed yard that provides shade and privacy. One car garage. No dogs allowed. Located on bus route. Community pool, gym & club house. Deed Restricted to Resident Occupied by Aspen Pitkin County Housing Authority. Buyer must work a min.1500 hrs/yr in the Roaring Fork Valley. Must be owner occupied. There is no sale price restriction buyer cannot own any improved property from Aspen to Rifle. Aspen Village has it’s own Metro District. Property taxes include water, sewer, trash pick up, common area & road maintenance, snow removal and management. Aspen Village offers great amenities including a community pool (summer use only), children’s playground, indoor gym and club house for special events. There is also a separate storage area for cars, boats etc. Garage provides parking for one car-there is no driveway and one additional car is allowed across the street with a parking permit. Limited financing with 20% down payment-call for details. This is a single wide 14×67, 1974 mobile home with +/- 14.9’x 23.2′ Master Bed. & Office Add., +/- 4.4’x 9.2′ Breakfast Nook Add. and +/- 6.4’x 5.2′ Mudroom Add. Mobile home title has been purged. APCHA controls Deed Restriction. Go to www.apcha.org to view HOA Documents; Go to www.aspenvillage.info for Aspen Village doc’s and for the most updated Covenants and Declarations.” 2016 taxes: $2,446. Under Contract Date: 05/22/2017; Sold Date: 06/30/2017. (Photos and broker comments courtesy of Janet Mitchell & Co)

MLS #143854 – Divide, 340 Divide Drive, Snowmass Village, CO: Sold Price: $10,100,000/$1,842 sq ft; furnished. More details below photos.

        

MLS #143854 – Divide, 340 Divide Drive, Snowmass Village, CO: Sold Price: $10,100,000/$1,842 sq ft; furnished. Snowmass Village single family ski in /ski out home for sale. Ask Price: $10,950,000. (Original Price: $11,950,000 and 540 days on the market since 01/07/2016.) This is a 2010 built, 5 bedroom/5 bath/1 half-bath, 5,483 sq ft single family home with 2 car garage on a 1.43 acres lot. Broker comments are “Timeless Tuscan inspired home with a classic mountain flair. The ultimate ski-in/ski-out home located atop Snowmass Village in the coveted Divide neighborhood. This home sits immediately adjacent to the Dawdler ski run offering a perfect start to every powder day for beginners and experts alike. Stunning design with impeccable attention to detail, this perfectly designed home by Robert Trown Architects maximizes views of the Continental Divide, Wildcat Ridge, Ziegler Reservoir and the Snowmass Valley. Enter the home through a grand stone entryway to a formal dining and great room offering immense picture windows, hardwood floors, exposed reclaimed oak wood beams, crown molding and inviting fireplace.” 2014 Taxes: $19,787; HOA Dues: $5,353 per Yr. Under Contract Date: 04/25/2017; Sold Date: 06/30/2017. (Photos and broker comments courtesy of Compass)

MLS #146806 – Enclave Condominiums, 360 Wood Road 101, Snowmass Village, CO: Sold Price: $1,612,500/$925 sq ft; partial-furnished. More details below photos.

        

MLS #146806 – Enclave Condominiums, 360 Wood Road 101, Snowmass Village, CO: Sold Price: $1,612,500/$925 sq ft; partial-furnished. Snowmass Village condo for sale. Ask Price: $1,900,000. (Original Price: $1,900,000 and 995 days on the market since 07/01/2014.) This is a 2008 remodeled, 4 bedroom/4 bath, 1,743 sq ft condo. Broker comments are “One of the best true ski in ski out locations in Snowmass Village! Assay Hill is literally steps from the deck. Ground floor unit on one level, no stairs to navigate. With 4 bedrooms, a great unit for a large family or maximize rental income through Snowmass Hospitality. With the new Limelight Hotel on tap for 2017, this location cannot be beat for convenience and easy access. Base Village amenities and restaurants are directly across the street. The opportunity is now before Base Village is complete and values go up.” 2016 Taxes: $6,461; HOA Dues: $30,153 per yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 04/27/2017; Sold Date: 06/23/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)

MLS #146917 – Crestwood Condominiums, 400 Wood Road #3304, Snowmass Village, CO: Sold Price: $561,000/$604 sq ft; furnished. More details below photos.

      

MLS #146917 – Crestwood Condominiums, 400 Wood Road #3304, Snowmass Village, CO: Sold Price: $561,000/$604 sq ft; furnished. Snowmass Village condo for sale. Ask Price: $589,000. (Original Price: $589,000 and 204 days on the market since 12/01/2016.) This is a 1970 built and 2009 remodeled, 2 bedroom/2 bath/1 loft, 928 sq ft condo. Broker comments are “Designated as one of the Crestwood’s finest condominiums with a ”premier rating;” this condo is truly one of the best. In addition to the top of the line remodel, finishes and furnishings, it is located on the top floor and corner of Ivy building, Crestwood’s upper most level. The floor plan consists of the master bedroom and bath on the main level with vaulted ceilings while the large loft is outfitted with four additional beds and it’s own bathroom. Two dormers in the loft, lots of windows and a wraparound deck make this property a vacationers paradise. Includes an in-unit washer/dryer. Owner pet allowed. Assessments include all utilities. Owner financing available.” 2016 Taxes: $1,980; HOA Dues: $15,074 per Yr. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 05/30/2017; Sold Date: 06/23/2017. (Photos and broker comments courtesy of Berkshire Hathaway HomeServices | Aspen Snowmass Properties)

MLS #146958 – Vacant Land / Lot, Gateway To Snowmass, Tbd Gateway Road, Snowmass, CO: Sold Price: $300,000. More details below photo.

MLS #146958 – Vacant Land/ Lot, Gateway To Snowmass, Tbd Gateway Road, Snowmass, CO: Sold Price: $300,000. Snowmass single family vacant lot for sale. Ask Price: $350,000. (Original Price: $350,000 and 185 days on the market since 12/12/2016.) This is a 1 acre single family vacant lot. Broker comments are “Beautiful one acre of land, gently sloping, all useable. Community water system, snow plowing. Electricity nearby. Looks over a 10 acre parcel across Gateway Road which gives privacy and excellent views. Minutes to Highway 82. Can build up to 5,650 sq. ft. subject to Pitkin County review. One of only a few lots remaining in Gateway. Ideal for primary residents or second home owners. Create the perfect home.” 2016 Taxes: $10,189. Under Contract Date: 06/01/2017; Sold Date: 06/15/2017. (Photos and broker comments courtesy of Preferred Resort Properties)