The Estin Report: Oct 2015 Aspen Snowmass Market Snapshot wasposted 11/01/15 inCurrent Reports.The Snapshots are released on or near the 1st Monday of the month.

See recent Before/After redevelopment‘flip job’ examplesin Miscellaneous Info at the bottom of the Menu Bar on the left. These are properties that have been recently or are currently being redeveloped for re-sale. This post is updated (08/24/15) 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.

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Market Activity Week 45, November 8 – 15, 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 (13):MLS#’s:137257, 137639, 137656, 134850, 138823, 139265, 139701, 140153, 140637, 140916, 141183, 141658, 141664. This link is valid until 12/15/2015.

Under Contract/Pending (7):MLS#’s:133064, 113952, 121697, 133847, 140491, 140617, 141029. This link is valid until12/15/2015.

Aspen Snowmass Solds Last Week:

MLS #141658 – Central Core, 535 E Hyman Avenue, Aspen, CO. Sold Price: $25,000,000/$2,938; Record setting downtown Aspen penthouse sale: this is a bare bones purchase with unfinished interior. More details below photos.

MLS #141658 – Central Core, 535 E Hyman Avenue, Aspen, CO. Sold Price: $25,000,000/$2,938; bare bones purchase with unfinished interior. (Photos are schematics only). Asking Price: $25,000,000. (Original Price: $25,000,000 and 274 days on the market since 02/11/2015.) This is a 2015 built, 6 bedroom/6 bath/2 half-bath, 8,507 sq ft condo with 3 car garage. Here’s the math: $25M/8,507 sq ft = $2,938 sf unfinished. Calculate an additional $3-4M to finish out/8.507 sq ft = $3,291 sq ft – $3,401 sq ft. Broker comments are “Sold before MLS. Taxes and HOA dues are to be determined. Parcel Number and Account Number are to be determined.” HOA Dues: TBD. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 02/14/2015; Sold Date: 11/12/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #141664 – Central Core downtown commercial property, the Red Onion Building, 420 E Cooper Avenue, Aspen, CO. Sold Price: $18,000,000. More details below photo.

MLS #141664 – Central Core downtown commercial property, the Red Onion Building, 420 E Cooper Avenue, Aspen, CO. Sold Price: $18,000,000. Asking Price: $18,000,000. (Original Price: $18,000,000 and 3 days on the market since 09/29/2015.) This is a 1890 built, 13,167 sq ft commercial industria. Broker comments are “Sold before MLS. Taxes are TBD.” 2015 Taxes: TBD. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/29/2015; Sold Date: 10/02/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #137656 – Maroon Creek Club, West Aspen, 45 N Willow Ct, Aspen, CO. Sold Price: $7,150,000/$850; furnished. More details below photos.

MLS #137656 – Maroon Creek Club, West Aspen, 45 N Willow Ct, Aspen, CO. Sold Price: $7,150,000/$850; furnished. Asking Price: $7,645,000. (Original Price: $7,995,000 and 2,300 days on the market since 07/28/2008.) This is a 2004 built, 5 bedroom/6 bath/1 half-bath, 8,402 sq ft single family home with 2 car garage on a 16,788 sq ft lot. Broker comments are “A treasure on the Maroon Creek Club Golf Course. Magnificent home with flawless finishes, no detail overlooked, set on the 10th fairway of the Maroon Creek Golf Club. Open floor plan, 8,400 sq. Ft, 5 bedrooms, 6 bathrooms, office with full bath, 8 fireplaces, large entertainment room with pool table and bar, multiple decks with serene views of Aspen and the breathtaking Colorado Elk Mountain Range. Furnished.” 2015 Taxes: $19,523; HOA Dues: 5,280 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/29/2015; Sold Date: 11/10/2015. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #140916 – Historic West End, 417 & 421 W Hallam Street, Aspen, CO. Sold Price: $4,150,000/$707. More details below photo.

MLS #140916 – Historic West End vacant lot sale, 417 & 421 W Hallam Street, Aspen, CO. Sold Price: $4,150,000/$707. Asking Price: $4,150,000. (Original Price: $4,150,000 and 66 days on the market since 09/04/2015.) Vacant lot with approvals to build a new 5,863 sq ft single famiy home with 4 bedroom/3 bath/2 half-bath and 1 car garage on a 6,325 sq ft lot. Broker comments are “Well located 6,000 square foot lot with full HPC approval for a 5,863 square foot new residence. A small portion of a historic cabin would need to be retained. See documents for floor plans and elevation drawings. Call listing broker regarding making changes to current approval.” 2014 Taxes: $7,574. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/07/2015; Sold Date: 11/09/2015. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #137257 – Alpenblick, Central Core condo townhome, 710 S Mill Street Units 6 & 7, Aspen, CO. Sold Price: $2,435,000/$1,456; furnished. More details below photos.

MLS #137257 – Alpenblick, Central Core condo townhome, 710 S Mill Street Units 6 & 7, Aspen, CO. Sold Price: $2,435,000/$1,456; furnished. Asking Price: $2,595,000. (Original Price: $2,595,000 and 827 days on the market since 06/19/2013.) This is a 1965 built and 2009 remodeled, 3 bedroom/3 bath/1 half-bath, 1,672 sq ft townhouse. Broker comments are “Remodeled to the studs including new plumbing and electrical wiring! This corner unit was designed with full-time living in mind. Air-conditioning, humidification, multiple balconies, a gourmet kitchen with a gas Bertazzoni range, white oak floors, pine beams, hand scraped plaster walls, bathrooms with in floor radiant heat, steam shower, jetted tub, two entrances, full size washer and dryer; not your typical remodel! After a day on the hill walk a block home from the Aspen Mountain Gondola and enjoy your hot tub and pool. This elegant residence is located closer to the gondola than any other three bedroom, three bath property currently listed for sale and we are offering the most square footage at the best price per square foot on the market!” 2014 Taxes: $6,174; HOA Dues: $5,800 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/08/2015; Sold Date: 11/10/2015. (Photos and broker comments courtesy of Shane Aspen Real Estate)

MLS #137639 – Concept 600, Central Core, 600 E Main Street Unit #408, Aspen, CO. Sold Price: $1,475,000/$1,552. More details below photos.

MLS #137639 – Concept 600, Central Core, 600 E Main Street Unit #408, Aspen, CO. Sold Price: $1,475,000/$1,552. Asking Price: $1,500,000. (Original Price: $1,650,000 and 269 days on the market since 02/12/2015.) This is a 1972 built, 2 bedroom/2 bath, 950 sq ft condo. Broker comments are “This gorgeous two bedroom, two bathroom in the core won’t last the season. Located just 5 blocks to the gondola, this luxe condo has been completely remodeled with modern contemporary finishes. A top floor unit with unobstructed views of Aspen Mountain. This home includes a spacious living area, gas fireplace, washer/dryer in unit, jacuzzi tub, 2 underground parking spaces, as well as a hot tub in complex.” 2014 Taxes: $2,497; HOA Dues: $2,939 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/11/2015; Sold Date: 11/10/2015. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #140153 – Fasching Haus, Central Core, 747 S Galena Street 110, Aspen, CO. Sold Price: $850,000/$1,416; partial furnished. More details below photos.

MLS #140153 – Fasching Haus, Central Core, 747 S Galena Street 110, Aspen, CO. Sold Price: $850,000/$1,416; partial furnished. Asking Price: $890,000. (Original Price: $890,000 and 115 days on the market since 07/17/2015.) This is a 1969 built and 2011 remodeled, 1 bedroom/1 bath, 600 sq ft condo. Broker comments are “Beautiful, custom renovation of a central core condominium. Thoughtful design and perfectly furnished! Excellent amenities at the Fasching Haus and less than two blocks to the Aspen Mountain, gondola, restaurants, shops and nightlife!” 2014 Taxes: $1,150; HOA Dues: $2,006 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 09/02/2015; Sold Date: 11/09/2015. (Photos and broker comments courtesy of Aspen Snowmass Properties|BJ Adams and Company – Aspen)

MLS #138823 – Aspen View, East Aspen, 326 Midland Avenue Unit #302, Aspen, CO. Sold Price: $810,000/$964; partial furnished. More details below photos.

MLS #138823 – Aspen View, East Aspen, 326 Midland Avenue Unit #302, Aspen, CO. Sold Price: $810,000/$964; partial furnished. Asking Price: $839,000. (Original Price: $895,000 and 196 days on the market since 05/01/2015.) This is a 1971 built and 2005 remodeled, 2 bedroom/2 bath, 840 sq ft condo. Broker comments are “Enjoy Aspen Mountain views from this remodeled top floor two-bedroom, two-bathroom corner condominium. A private deck extends from the living room with Smuggler and Red Mountain views. A gas fireplace with slate surround warms the living room. The open kitchen, living and dining room floor plan is perfect for entertaining. The kitchen features solid slab granite and new stainless steel appliances. Bamboo flooring is throughout along with radiant heated slate flooring in the kitchen and bathrooms. The three-zone surround sound AV system is in-wall wired. The custom slate master bathroom includes steam shower with handle and bench. A jetted tub with slate surround and glass shower enclosure is found in the guest bathroom. An Asko stackable in-unit washer and dryer is located in the master bathroom closet. A flat screen television and electric fireplace highlight the master bedroom. It is a five-minute walk or ride to town via the Hopkins Ave. Pedestrian Bridge and a block to the free bus. Two off-street parking spaces are next to the guest parking in front of the building. There are two enclosed, locked storage units on lower level as well as a common laundry facility. New paint and carpet recently completed in complex hallways and stairs. The building was brought up to code in 2003 with new electrical and sprinklers. Low HOA dues include in-unit heat. This is the ideal Aspen condominium in a small quiet complex with great light and views and close to Aspen’s best hiking and biking in Hunter Creek Valley.” 2015 Taxes: $1,460; HOA Dues: $1,271 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/19/2015; Sold Date: 11/13/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #140637 – Lazy O Ranch, Old Snowmass, 2240 Lazy O Road, Snowmass, CO: Sold Price: $2,874,158/$309 sq ft; unfurnished. More details below photos.

MLS #140637 – Lazy O Ranch, Old Snowmass, 2240 Lazy O Road, Snowmass, CO: Sold Price: $2,874,158/$309 sq ft; unfurnished. Asking Price: $2,995,000. (Original Price: $2,995,000 and 2,293 days on the market since 07/31/2007.) This is a 1991 built and 2007 remodeled, 6 bedroom/6 bath/2 half-bath, 9,685 sq ft single family home with 2 car garage on a 155,161 sq ft lot. Broker comments are “Enjoy panoramic views from this dramatic, fully remodeled home on 3.56 acres overlooking the majestic 1,400 acres of Lazy O Ranch! Features include 6 bedrooms, 6 full baths, 2 half baths, 9287 square feet, spacious floor plan, top of the line finishes, striking log accents, ample master suite, wine room, theater, recreation room, air conditioning, two car garage, mature landscaping, pond/water feature and privacy. The ranch amenities include common horse pastures, barn, tennis courts, fishing ponds, hiking/riding trails and a manager on site 24 hours per day, 7 days per week. Just 16 miles to the center of Aspen, and 6 miles to the quaint town of Basalt with specialty shops, restaurants, & renowned Gold Medal fishing in the Frying Pan River.” 2014 Taxes: $16,408; HOA Dues: $16,000 per Year. Under Contract Date: 08/18/2015; Sold Date: 11/09/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #139265 – Ridge Run, Snowmass Village, 1614 Faraway Road, Snowmass Village, CO: Sold Price: $3,336,500/$728 sq ft; partial furnished. More details below photos.

MLS #139265 – Ridge Run, Snowmass Village, 1614 Faraway Road, Snowmass Village, CO: Sold Price: $3,336,500/$728 sq ft; partial furnished. Asking Price: $3,600,000. (Original Price: $3,600,000 and 167 days on the market since 05/27/2015.) This is a 2000 built, 5 bedroom/4 bath/1 half-bath, 4,583 sq ft single family home with 2 car garage on a 35,095 sq ft lot. Broker comments are “Serene Mountain Lodge atop Faraway Road From the meandering drive up Faraway Road, this elegant mountain lodge immediately calms the soul. The stone and wood façade paired with a grand entry is the perfect introduction for guests and family. An inviting kitchen with Viking stainless steel appliances and 100-bottle Sub-Zero wine cooler flows to the formal dining area and great room. The master wing, complete with den, office, oversized walk in closet, and French doors to the deck, is located on the main living level. Lower level has four more bedrooms, all with direct access to private bathrooms, a second gathering area with fireplace and French doors to the flagstone patio. Amazing views of Independence Pass and Snowmass Valley are captured by the 1,400 + square feet of deck.” 2014 Taxes: $10,492; HOA Dues: $90 per Year. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/15/2015; Sold Date: 11/10/2015. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)

MLS #134850 – Melton Ranch, Snowmass Village, 167 Sinclair Lane, Snowmass Village, CO: Sold Price: $1,728,500/$575 sq ft; furnished. More details below photos.

MLS #134850 – Melton Ranch, Snowmass Village, 167 Sinclair Lane, Snowmass Village, CO: Sold Price: $1,728,500/$575 sq ft; furnished. Asking Price: $1,850,000. (Original Price: $1,995,000 and 879 days on the market since 06/18/2013.) This is a 1988 built and 2009 remodeled, 4 bedroom/3 bath, 3,006 sq ft single family home with 2 car garage on a 22,841 sq ft lot. Broker comments are “Soak in the sunshine while getting a bird’s eye view of the ski conditions from your perfect Snowmass home! Stretch out on this 0.6-acre Melton Ranch lot with new landscaping and open space behind it. The home décor has recently been updated with a cabin-chic feel, offering cozy spots to read a book and elegant open spaces for entertaining. The master suite, complemented with an office (or a fifth bedroom), is on the uppermost part of the house. There is the indoor hot tub off of the master bathroom and a private deck as well. The middle level is perfect for dining with friends inside and out with a dining area, gathering area with two-story high ceiling and fireplace, and a bedroom ready for use or conversion to guest master suite. Lower level has the third and fourth bedrooms, separate mud room which can be locked off for owner’s storage if home is rented, and easy access to the two-car garage. The views and vitality offered by this home located on the “Sunny Side of Snowmass” cannot be overlooked. It’s just a short walk to the school bus/shuttle stop and it’s in the Aspen School District!” 2014 Taxes: $6,294; HOA Dues: $90 per Year. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 09/12/2015; Sold Date: 11/06/2015. (Photos and broker comments courtesy of Douglas Elliman Real Estate-SMV)

MLS #141183 – Timberline, Snowmass Village, 690 Carriage Way Timberline 3f, Snowmass Village, CO: Sold Price: $525,000/$556 sq ft; furnished. More details below photos.

MLS #141183 – Timberline, Snowmass Village, 690 Carriage Way Timberline 3f, Snowmass Village, CO: Sold Price: $525,000/$556 sq ft; furnished. Asking Price: $545,000. (Original Price: $545,000 and 41 days on the market since 10/02/2015.) This is a 1972 built and 2010 remodeled, 1 bedroom/2 bath, 944 sq ft condo. Broker comments are “Totally renovated one bedroom plus loft in the highly desirable ”C” Building. With afternoon sun, direct ski access, a short walk to the pool and the on site restaurant, this condominium should be placed at the top of your list. Great on site management and good rental income if desired.” 2014 Taxes: $2,020; HOA Dues: $760 per Month. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/13/2015; Sold Date: 11/12/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Snowmass Village)

MLS #139701 – Timberline, Snowmass Village, 690 Carriage Way #306, Snowmass Village, CO: Sold Price: $259,000/$445 sq ft; furnished. More details below photos.

MLS #139701 – Timberline, Snowmass Village, 690 Carriage Way #306, Snowmass Village, CO: Sold Price: $259,000/$445 sq ft; furnished. Asking Price: $299,000. (Original Price: $299,000 and 163 days on the market since 05/26/2015.) This is a 1972 built and 2014 remodeled, 1 bedroom/1 bath, 582 sq ft condo. Broker comments are “Darling open lofted bedroom with living room views to Sam’s Knob and the Big Burn. Remodeled galley-style kitchen is fully equipped, plenty of over and under counter storage and generous granite-topped counter space. Living room sliding glass doors access the South-west facing deck with wrap around seating. Ski in, ski out and relax by the pool. Coveted and convenient for that getaway you deserve! Summer bookings in place, please be mindful that Timberline team will do everything they can to rearrange guests if new owner requests, but understand that they may have to honor bookings and collect the income, if it’s not possible.” 2014 Taxes: $1,191; HOA Dues: $664 per Month. Town of Snowmass Village Transfer Tax of approx. 1.0% payable by buyer. Under Contract Date: 10/17/2015; Sold Date: 11/05/2015. (Photos and broker comments courtesy of Aspen Snowmass Properties|BJ Adams and Company-SMV)

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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:“The Estin Reporton Aspen Real Estate.”

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