West End Property Sold for $15M

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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.

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 25, June 11 – 18, 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 (8):  MLS#s 142152, 140151, 144590, 145717, 146743, 147155, 147905, 148086. This link is valid until 7/18/2017.

Under Contract/Pending (8): MLS#s 133316, 141555, 141479, 147687, 147721, 149233, 149366, 149411. This link is valid until 7/18/2017.

Aspen Snowmass Solds Last Week:  

MLS #140151 – West End, 614 N Fourth Street, Aspen, CO. Sold Price: $15,320,021/$2,399 sq ft; unfurnished. Aspen single family home for sale. Ask Price: $14,995,000. (Original Price: $14,995,000 and 693 days on the market since 07/20/2015.) This is a 2017 built, 7 bedroom/7 bath/2 half-bath, 6,385 sq ft single family home with 2 car garage on an oversized 8,392 sq ft corner lot. Broker comments are “Stage Fine Homes proudly presents The Pearl Residence; This spectacular brand new contemporary home on an oversized prime West End lot is designed by an amazing collaboration between Aspen’s S2 Architects & Bennett Design-Build. Steps from the Music Tent, and an easy stroll to the Core, The Pearl Residence offers contemporary forms and classic, organic materials with generous indoor-outdoor living spaces and great views of Ajax and Shadow. Materials include chiseled limestone, weathered wood, exposed steel, and integrated landscapes. 7 Bedroom suites (4 above-grade) offer plenty of room for your family and guests to enjoy Aspen together. Large lot offers room to entertain, rooftop deck delights with views. New address = 439 Pearl. Construction underway, completion anticipated spring ’17.” 2015 taxes: $8,543. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/19/2016; Sold Date: 06/12/2017. (Photos and broker comments courtesy of Aspen International Properties)

MLS #146743 – West Aspen, 860 Cemetery Lane, Aspen, CO. Sold Price: $2,150,000/$968 sq ft; unfurnished. Aspen duplex/half-duplex for sale. Ask Price: $2,300,000. (Original Price: $2,300,000 and 225 days on the market since 11/02/2016.) This is a 1979 built and 2009 remodeled, 4 bedroom/3 bath, 2,220 sq ft duplex/half-duplex with 1 car garage on a 14,997 sq ft lot. Broker comments are “Best priced duplex in West Aspen! Perfect home for a family wanting to be in the award winning Aspen School District. 3 bedroom, 3 bath, sunny living room and spacious outdoor deck with views of Aspen and Aspen Highlands. Tot Lot Park is across the street with access to golf and cross country skiing. Free shuttle bus outside the front door offers easy access to downtown within minutes.” 2016 taxes: $3,687. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 03/23/2017; Sold Date: 06/15/2017. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hyman Ave)

MLS #142152 – Gant, Central Core, 610 S West End Street C101, Aspen, CO. Sold Price: $1,650,000/$1,289 sq ft; furnished. Aspen condo for sale. Ask Price: $1,795,000. (Original Price: $1,875,000 and 526 days on the market since 01/04/2016.) This is a 1972 built and 2010 remodeled, 3 bedroom/3 bath, 1,280 sq ft condo. Broker comments are “Fantastic 3-bedroom, 3-bath condo at the Gant at a great price! This Deluxe-rated, ground-floor corner unit offers prime access to town and resort amenities. This property is sold furnished and was recently remodeled in 2011, with cozy décor that is alpine inspired and brings the outdoors in. During winter, toast epic days of skiing around the wood-burning fireplace. Come summer, there’s no better place to be than The Gant! Meticulously landscaped grounds feature pools, hot tubs, grill areas, fire pits, and tennis courts. Location is key–downtown Aspen is just a short walk, while the Aspen Club, local trails and the Gondola are easily access, too. And with onsite management, dedicated concierge and convenient shuttle service to the airport, this is truly hard to beat!” 2016 taxes: $3,295; HOA Dues: $32,346 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/14/2017; Sold Date: 06/13/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #148086 – Chateau Eau Claire, Central Core, 1034 E Cooper Avenue #13-A, Aspen, CO. Sold Price: $1,465,000/$1,510 sq ft; furnished. Aspen condo for sale. Ask Price: $1,499,000. (Original Price: $1,499,000 and 84 days on the market since 03/21/2017.) This is a 1971 built and 2006 remodeled, 2 bedroom/2 bath, 970 sq ft condo. Broker comments are “A wonderful two bedroom condo perched above the Roaring Fork River and only a few short blocks away from Aspen’s commercial core. Open the door to the deck off the living room and listen to the mesmerizing sounds of the river below, you’d never know downtown Aspen is so close. Nicely finished and furnished, there’s a washer and dryer in the condo and a wood burning fireplace. Elevator access to this condo (in the middle of the building and away from the road) at the Chateau Eau Claire with a swimming pool and hot tub just steps away. Onsite parking makes life at this condo a breeze.” 2016 taxes: $3,045; HOA Dues: $3,632 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 04/29/2017; Sold Date: 06/13/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #147905 – Lazy O Ranch, 1000/1002 Lazy O Road, Snowmass, CO: Sold Price: $4,900,000/$657 sq ft; unfurnished. Snowmass Village single family home for sale. Ask Price: $4,995,000. (Original Price: $4,900,000 and 107 days on the market since 02/28/2017.) This is a 2006 built, 5 bedroom/5 bath/2 half-bath, 7,453 sq ft single family home with 3 car garage on a 7.83 acres lot. Broker comments are “Serenity Found! Located in Old Snowmass in the heart of the 1,500 acre Lazy O Ranch, this spectacular home enjoys a private and peaceful setting with commanding views of the mountains and lush green pastures below. Thoughtfully designed by Studio B Architects, this spacious residence consists of five bedrooms, including the two bedroom, two bath guest residence and 7,453 square feet of improvements. The living and dining areas are gracious and warm and spill out onto the deck for great entertaining and evening sunsets. Sweeping views and beautiful light throughout. The gourmet kitchen is designed to have friends and family together with its breakfast and family den adjacent to the chef. The back patio is equally perfect for entertaining with outdoor dining, firepit and fun!” 2016 Taxes: $21,378; HOA Dues: $15,000 per Yr. Under Contract Date: 03/13/2017; Sold Date: 06/15/2017. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Basalt).

Recent Estin Report tweets on Aspen Real Estate

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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 at 970.309.6163  or by email. The Estin Report is copyrighted 2017 and all rights reserved. Use is permitted subject to the following attribution with a live link to this website: “The Estin Report on Aspen Real Estate.”

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