Market Activity Week 10, Mar 2 – 9, 2014
The Estin Report: Feb 2014 Aspen Real Estate Market Snapshot was posted in Current Reports on Mar 3, 14. The Snapshots are released on or about the 1st Monday of each month. Last week’s Aspen and Snowmass sales activity appears below. Scroll down page for photos and details of weekly solds 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. Or use SearchEstinAspen to search by topic, address, subdivision or complex name, date etc. If it’s about Aspen real estate, information should be here.
Click image for Feb 2014 Aspen Real Estate Market Snapshot pdf in Current Reports
Last Week’s Market Activity: 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 (8): MLS #s: 133243, 133060, 128101, 112586, 129718, 128426, 127921. This link is valid until 04/09/2014.
Under Contract / Pending (10): MLS #s: 129947, 127506, 120136, 123406, 131354, 132241, 126143, 133113, 127790, 132282. This link is valid until 04/09/2014.
Aspen Snowmass Solds Last Week
BEFORE AND AFTER WEST END REDEVELOPMENT PROJECT SALE:
There is a “Before” and “After” sales story here, same house, before and after renovation – “Before” is the May 13, 2012 sale of the “Yellow Vic” MLS 121839 and “After” is the sale last week of the newly rebuilt, much larger sized same historic Victorian, no longer yellow, on Mar 7, 2014 of MLS 133243. Both sales details appear below.
MLS #121839 – ‘Before’ Sale closed 05/14/12 – Aspen, West End very small single family home, historic victorian overlooking Hallam Lake, 320 Lake Avenue, Aspen, CO: Sold Price: $4,000,000/$2,614 sq ft unfurnished. More details below photos.
MLS #121839 – ‘Before’ Sale closed 05/14/12 – Aspen, West End historic victorian overlooking Hallam Lake,, 320 Lake Avenue, Aspen, CO: Sold Price: $4,000,000/$2,614 sq ft unfurnished; Ask Price: $4,500,000. (Original Price: $4,500,000 and 318 days on the market since 07/02/2011.) This is a 1888 built/1977 remodeled, 3 bedroom/2 bath, 1,530 sq ft single family home. Broker comments are, ” An opportunity to own a quintessential Aspen home nestled on exclusive Lake Avenue. This private property overlooking Hallam Lake has unobstructed views of Smuggler Mountain and Hunter Creek, and sits near Triangle Park and just three blocks to the Music Tent. This quaint Victorian with three cozy bedrooms and bonus loft features hardwood floors and original wood details throughout. This West End home has been impeccably maintained and offers charm and history, yet possibilities and potential abound. Within walking distance to downtown, this special Hallam Lake setting will create an inviting atmosphere and provide memorable experiences each and every day you’re there.” 2011 Taxes: $12,238. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 07/31/2011; Sold Date: 05/14/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)
MLS #133243 – ‘After’ sale closed on 03/07/14 – Aspen, West End single family home, 320 Lake Avenue, Aspen, CO: Sold Price: $13,022,617/$2,271 sq ft unfurnished. This is a redevelopment project still in process hence only one photo of the new home.
MLS #133243 – ‘After’ sale closed 03/07/14 – Aspen, West End single family home, 320 Lake Avenue, Aspen, CO: Sold Price: $13,022,617/$2,271 sq ft unfurnished; Asking Price: $13,022,570. (Original Price: $13,022,570 and 207 days on the market since 08/12/2013.) This is an 1884 built/2014 remodeled, 6 bdrm/6 ba/2 hba, 5,732 sq ft single family home with 2 car garage on a 7,075 sq ft lot. In Dec. 2012, this small, charming 3 bdrm / 2 ba, 1,530 sq ft, built 1884 / remodeled 1977, “Yellow Victorian” sold at $4M with no garage (See listing above). With Lake Avenue on the front side and Hallam Lake on the back, this superbly located historic home was ripe for creative redevelopment benefitting from Aspen’s Historic Preservation Commission (HPC) incentives and credits (See HPC FAQ’s and HPC Guidelines ). Lake Avenue is one of Aspen’s premier “5th Avenue” rarified addresses – in the summer it is closed to through traffic and becomes a pedestrian ‘strollway” linking the Aspen Institute and Aspen Music Festival to downtown Aspen by foot and bike passageway. Broker comments are, “Sold before MLS”. 2013 Taxes: $11,417. Under Contract Date: 08/12/2013; Sold Date: 03/07/2014. (Photo courtesy of Aspen International Properties.)
MLS #128101 – Aspen, Central Core, Aspen Townsite single family home – formerly the Little Red Ski Haus (House) Lodge, 118 E. Cooper Avenue, Aspen, CO: Sold Price: $5,100,000/$763 sq ft furnished. More details below photos.
MLS #128101 – Aspen, Central Core, Aspen Townsite single family home, 118 E. Cooper Avenue, Aspen, CO: Sold Price: $5,100,000/$763 sq ft furnished; Asking Price: $5,500,000. (Original Price: $5,500,000 and 438 days on the market since 12/19/2012.) This is an 1888 built/2002 remodeled, 11 bedroom/4 bath/9 three-quarter bath/1 half bath, 6,677 sq ft single family home on a 4,500 sq ft lot. This is the former Little Red Ski Haus (House) Lodge infamous for being the first place many a future Aspenite would stay upon arriving in town. Broker comments are, ” Aspen History truly comes alive in this small Victorian lodge. Completely remodeled in 2002. 11 Bedrooms (3 are suites), 13 ½ baths, a cozy parlor and spacious pub with fireplace and kitchen within walking distance to skiing and the core. Offered furnished. The property is zoned lodge preservation PUD and has a historic designation.” 2013 Taxes: $15,074. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 11/14/2013; Sold Date: 02/28/2014. (Photos and broker comments courtesy of Coldwell Banker Mason Morse.)
MLS #112586 – Aspen, Smuggler, Fox Crossing single family home, 566 Race Street, Aspen, CO: Sold Price: $3,700,000 furnished. More details below photos.
MLS #112586 – Aspen, Smuggler, Fox Crossing single family home, 566 Race Street, Aspen, CO: Sold Price: $3,700,000 furnished; Asking Price: $3,800,000. (Original Price: $3,800,000 and 1,677 days on the market since 07/27/2009.) This is a 2008 built, 4 bedroom/4 bath/1 half bath, 3794 sq ft single family home with 2 car garage. Broker comments are, “Best Value in Aspen. Motivated Seller, open to trades. Warm Mountain Contemporary home. Walking distance to town. Stunning finishes, walnut hardwood flooring, caesar stone granite, professional appliances, top of the line video/audio media room with wet bar. A great balance of luxury, location and function! Property is in a lease option to purchase. (5 year term, value at $3,700,000.)” 2013 Taxes: $8,834. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/01/2014; Sold Date: 02/28/2014. (Photos and broker comments courtesy of Carol Dopkin Real Estate.)
MLS #127921 – Aspen, Red Mountain, Ridge of Red Mountain single family home, 44 Bennett Court, Aspen, CO: Sold Price: $2,650,000/$716 sq ft unfurnished. More details below photos.
MLS #127921 – Aspen, Red Mountain, Ridge of Red Mountain single family home, 44 Bennett Court, Aspen, CO: Sold Price: $2,650,000/$716 sq ft unfurnished; Asking Price: $2,950,000. (Original Price: $2,950,000 and 453 days on the market since 12/06/2012.) This is a 1978 built, 3 bedroom/4 bath, 3,699 sq ft single family home with 2 car garage on a 18,898 sq ft lot. This is a older well-maintained home in excellent condition but functionally obsolete, selling essentially at lot value. Definition: “A reduction in the usefulness or desirability of an object because of an outdated design feature, usually one that cannot be easily changed.” Broker comments are, “Absolutely the best buy on Red Mountain! Wonderful home with large south facing deck off the great room with open kitchen and dining room. Master bedroom on upper level with large bath and walk in closet plus big view deck. Walkout level is currently a second master with two baths. Could be media room again with separate bedroom. Quiet cul-de-sac location.” 2013 Taxes: $7,704. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/13/2013; Sold Date: 03/03/2014. (Photos and broker comments courtesy of Lorrie B Aspen.)
MLS #128426 – Aspen, West Aspen, Aspen Highlands townhouse, 81 Thunderbowl Lane, Aspen, CO: Sold Price: $3,800,000/$831 sq ft furnished. More details below photos.
MLS #128426 – Aspen, West Aspen, Aspen Highlands townhouse, 81 Thunderbowl Lane, Aspen, CO: Sold Price: $3,800,000/$831 sq ft furnished; Asking Price: $3,990,000. (Original Price: $3,990,000 and 403 days on the market since 01/24/2013.) This is a 2006 built, 4 bedroom/4 bath/1 half bath, 4,570 sq ft condo with 2 car garage. Broker comments are, “A best buy in the Highlands. Ski in/ski out convenience. Next door to the Ritz with pool, hot tub and workout privileges.High end luxury finishes include soaring ceilings with wood trusses, generous use of stone throughout, commercial grade appliances, wood floors. Office/5th bedroom. Outdoor Jacuzzi and yard. Big family room and plenty of space for the whole family and guests. Lock and go convenience and excellent rental income.” 2013 Taxes: $18,679; HOA Dues: $5,333 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/17/2014; Sold Date: 03/03/2014. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)
MLS #133060 – Aspen, Central Core, Winfield Arms condo, 119 E. Cooper Avenue #7, Aspen, CO: Sold Price: $625,000/$1,280 sq ft furnished. More details below photos.
MLS #133060 – Aspen, Central Core, Winfield Arms condo, 119 E. Cooper Avenue #7, Aspen, CO: Sold Price: $625,000/$1,280 sq ft furnished; Asking Price: $650,000. (Original Price: $650,000 and 11 days on the market since 02/24/2014.) This is a 1969 built, 1 bedroom/1 bath, 488 sq ft condo. No broker comments. 2013 Taxes: 973; HOA Dues: $1,263 Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/21/2014; Sold Date: 03/03/2014. (Photo courtesy of Aspen Snowmass Sotheby’s.)
MLS #132066 – Aspen, Smuggler, Hunter Creek condo, 313 Vine Street, Aspen, CO: Sold Price: $600,000/$683 sq ft unfurnished. More details below photos. 
MLS #132066 – Aspen, Smuggler, Hunter Creek condo, 313 Vine Street, Aspen, CO: Sold Price: $600,000/$683 sq ft unfurnished; Asking Price: $639,000. (Original Price: $649,000 and 113 days on the market since 11/08/2013.) This is a 1982 built, 2 bedroom/2 bath, 878 sq ft condo. Broker comments are, “Sunny south facing ground floor unit. Striking views of Aspen Mountain. This is a great primary residence or long-term rental. Enjoy all the amenities that Hunter Creek has to offer, pool, hot tubs and tennis courts. Just a quick walk or bus ride to the heart of Aspen.” 2013 Taxes: $1,288; HOA Dues: $295 Mo. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 01/05/2014; Sold Date: 03/01/2014. (Photos and broker comments courtesy of Hunter Creek Properties.)
MLS #129718 – Aspen, Short Sale, Smuggler, Hunter Creek condo, 1051 Vine Street #1051, Aspen, CO: Sold Price: $750,000/$733 sq ft furnished. More details below photos.
MLS #129718 – Aspen, Short Sale, Smuggler, Hunter Creek condo, 1051 Vine Street #1051, Aspen, CO: Sold Price: $750,000/$733 sq ft furnished; Asking Price: $799,000. (Original Price: $949,000 and 305 days on the market since $05/03/2013.) This is a 1980 built/2007 remodeled, 3 bedroom/2 bath, 1,023 sq ft condo. Broker comments are, “Top floor remodeled unit with gorgeous full-on views of Aspen Mountain, granite counters, cherry cabinets, slate & cork floors, stainless steel appliances, low dues, pool, hot tub & tennis court. Artwork & 2 elephant lamps are excluded. This is a Short Sale. 2013 Taxes: $1,993; HOA Dues: $350 Mo. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 12/13/2013; Sold Date: 03/03/2014. (Photos and broker comments courtesy of Frias Properties.)
MLS #121839 – Aspen, West End, 320 Lake Avenue, Aspen, CO: Sold Price: $4,000,000/$2,614 sq ft unfurnished. More details below photos.
MLS #121839 – Aspen, West End, 320 Lake Avenue, Aspen, CO: Sold Price: $4,000,000/$2,614 sq ft unfurnished; Asking Price: $4,500,000. (Original Price: $7,800,000 and 1,246 days on the market since 12/15/2008.) This is an 1888 built/1977 remodeled, 3 bedroom/2 bath, 1,530 sq ft single family home on a 7,075 sq ft lot. Broker comments are, ” An amazing opportunity to own a quintessential Aspen home nestled on exclusive Lake Avenue. This private property overlooking Hallam Lake has unobstructed views of Smuggler Mountain and Hunter Creek, and sits a stone’s throw from Triangle Park and three blocks to the Music Tent. This quaint Victorian with three cozy bedrooms and bonus loft features hardwood floors and original wood details throughout. This West End home has been impeccably maintained and offers charm and history, yet possibilities and potential abound. Within walking distance to downtown, this special Hallam Lake setting will create an inviting atmosphere and provide memorable experiences each and every day you’re there.” 2010 Taxes: $13,865. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 07/31/2011; Sold Date: 05/14/2012. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s.)
MLS #133113 – Pending Sale – Aspen, West End single family home, 301 Lake Avenue, Aspen, CO: Sold Price: $5,700,000/$1,625 sq ft with multiple offers. More details below photos.
MLS #133113 – Pending Sale – Aspen, West End single family home, 301 Lake Avenue, Aspen, CO: Sold Price: $5,700,000/$1,625 sq ft with multiple offers; Asking Price: $5,295,000. (Original Price: $5,295.) This is a 1974 built, 2 bedroom/3 bath, 3,508 sq ft single family home on a 9,820 sq ft, .23 acre, lot. Broker comments are, “Last building development opportunity on triangle park. Notable bauhaus designed by Victor Lundy, nationally recognized architect, whose work is in the Library of Congress. House is not landmarked, but house is on post-WWII list. Can be landmarked by a buyer voluntarily and a bundle of incentives applied for, ranging from affordable housing waivers to lot split to variance waivers and possible FAR bonus. Duplex allowed on 9000 s.F. + lot in west end. Unique propery 3 blocks to music tent and 8 blocks to downtown. 2 blocks to west end shuttle.” 2013 Taxes: $9,406. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/03/2014; Sold Date: 05/30/2014. (Proposed Close Date was 05/01/14 but delayed. Photos and broker comments courtesy of Stirling Peak Properties.)
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Disclaimer: The statements made in The Estin Report and on 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 at 970.309-6163 or email from contact page. The Estin Report is copyrighted 2014 and all rights reserved. Use is permitted subject to the following attribution with link to the source: “The Estin Report on the Aspen real estate market”
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