The Estin Report: Sep 2015 Aspen Snowmass Market Snapshot was posted 10/04/15 inCurrent Reports. The Snapshots are released on or near the 1st Monday of the month.

As an indicator of the market’s present strength, the Aspen Times reported that as of 2PM Fri Oct 9, 2015 “October’s total sales volume in Pitkin County was nearly $85 million, according to the Pitkin County Clerk and Recorder’s Office. October 2014 registered $149.5 million in total real estate sales. The strongest October since 2010 rang up $194 million.”

Separately, the Aspen Daily News reported on Oct 10th that “”Housing and Wheeler real estate transfer tax collections (payable by buyers of real property within the City of Aspen at approximately 1.5% of the purchase price) for September 2015 were up 57 percent and 46 percent, respectively, from the same period in 2014. Year-to-date collections are up 25 percent and 26 percent. Variances in percentage change largely reflects the exemption of deed restricted property transactions and the first $100,000 of valuation in all housing real estate transfer tax calculations.”

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.

_______________________

Market Activity Week 40, October 4 – 11, 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 (10):MLS#’s:135753,140778,135318,138812,139554,140695,136084,131987,140353,133396. This link is valid until 11/11/2015.

Under Contract/Pending (13):MLS#’s:122041,133263,133545,136541,137910,139405,139792,140153,140203,140410,141103,141156,141210. This link is valid until11/09/2015.

Aspen Snowmass Solds Last Week:

MLS #133396 – The Red Onion, one Aspen’s most iconic downtown commercial properties, Central Core, 414-422 Cooper Ave., Aspen, CO. This was an off market sale at $18,000,000 sq ft. More details below photo.

MLS #133396 – The Red Onion, one Aspen’s most iconic downtown commercial properties, Central Core, 414-422 Cooper Ave., Aspen, CO. This was an off market sale at $18,000,000 sq ft. The buyer is the investment group led by Chicago businessman, Mark Hunt. (The group owns approx. (13) downtown Aspen properties continuing a recent 2-3 year buying spree that is unabated. This is a 1890 built, 15,774 sq ft commercial property. 2014 Taxes: $127,614. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Sold Date: 10/02/15. (Grantor: Red Onion Investors LLC, NH Onion Ventures II LLC, AVH Onion Ventures II LLC, RG Onion Ventures II LLC, SH Onion Ventures II LLC, AP RT 29 LLC, NH 420 Cooper LLC, AH 420 Cooper LLC; Grantee: 414-422 East Cooper Avenue LLC, Chicago, IL. Property: City of Aspen Lot N Blk 89. Cost: $18,000,000.00)

MLS #135753 – West End, 830 Roaring Fork Road, Aspen, CO. Sold Price: $16,000,000/$2,213 sq ft; unfurnished. More details below photos.

MLS #135753 – West End, 830 Roaring Fork Road, Aspen, CO. Sold Price: $16,000,000/$2,213 sq ft; unfurnished. Asking Price: $16,995,000. (Original Price: $20,000,000 and 1,888 days on the market since 09/10/2013.) This is a 1984 built and 1992 remodeled, 6 bedroom/7 bath/1 half-bath, 7,227 sq ft single family home with 4+ car garage on a 44,792 sq ft lot. The property is located in on one of the West End’s most coveted locations just off Lake Ave on Hallam Lake, an area . The home, however beautiful on the ageless stone exterior, is very dated with a chopped up, with an irregular and awkward floor plan. Broker comments are “Privacy and convenience define this tastefully refined six-bedroom home overlooking the Hallam Lake Nature Preserve on Roaring Fork Road, in Aspen’s exclusive West End neighborhood. Outside, manicured gardens and decks, a glass and stone belvedere, and meandering pathways provide for a private and relaxing outdoor living environment with unencumbered views of the lake, Independence Pass and Aspen Mountain. Inside, warm wood finishes and crisp white walls accent living spaces that embrace the serenity of this unique retreat. Just steps from the Music Tent and Aspen Institute, and minutes from the gondola and downtown Aspen. Conceptuals on file show the house configured to take advantage of the unbelievable views of Ajax Mt, Independence Pass & Hallam Lake. All of the square footage is above grade” 2014 Taxes: $20,442. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/17/2015; Sold Date: 10/06/2015. (Photos and broker comments courtesy of Coldwell Banker Mason Morse-Aspen)

MLS #140778 – Pitkin Green, Red Mountain, 89 Pitkin Way, Aspen, CO. Sold Price: $12,250,000/$2,469 sq ft; partial furnished. More details below photos.

MLS #140778 – Pitkin Green, Red Mountain, 89 Pitkin Way, Aspen, CO. Sold Price: $12,250,000/$2,469 sq ft; partial furnished. Asking Price: $12,000,000. (Original Price: $12,000,000 and 44 days on the market since 08/25/2015.) This is a 1987 built, 3 bedroom/3 bath/1 half-bath, 4,961 sq ft single family home with 3 car garage on a 29,578 sq ft lot. The property is located at the base of Red Mountian with stunning mountain views overlooking the Roaring Fork River. The property has it all: end of the road privacy, mountain views, river, walkability and biking on the adjacent Rio Grande Trail into town, to the Aspen Institute to downvalley. The property last traded in 1992. One-of-a-kind and ultra special. Broker comments are “Enjoy end of the road privacy on Pitkin Way, one of Red Mountain’s most exclusive and coveted locations. This timeless contemporary stone home with expansive windows and high ceilings provides breathtaking views of Aspen Mountain. The flat, three quarter acre lot is surrounded by mature landscaping in a peaceful setting that is only minutes to downtown Aspen. Very few lots on Red Mountain offer walking distance to downtown Aspen and you can access the Rio Grande Trail and the Roaring Fork River from the edge of the property. Ride your bike or walk to the Music Tent across the river on a pedestrian bridge in minutes. The home’s open living spaces offer the perfect backdrop for entertaining and displaying a significant art collection. The new floor to ceiling windows provide a seamless connection to the outdoor patios and decks. The second level of this home features a private and spacious master suite with a south facing deck. Two more ensuite bedrooms with walkouts to beautiful patios complete the package of this unique home.” 2014 Taxes: $19,267; HOA Dues: $615 per Qtr. Under Contract Date: 09/16/2015; Sold Date: 10/08/2015. (Photos and broker comments courtesy of Douglas Elliman Real Estate-Hunter)

MLS #135318 – Mountain Valley, East Aspen, 31 Mountain Laurel Drive, Aspen, CO. Sold Price: $5,750,000/$1,101 sq ft; unfurnished. More details below photos.

MLS #135318 – Mtn Valley, East Aspen, 31 Mountain Laurel Drive, Aspen, CO. Sold Price: $5,750,000/$1,101 sq ft; unfurnished. Asking Price: $5,950,000. (Original Price: $7,700,000 and 443 days on the market since 07/15/2014.) This is a 2013 built, 5 bedroom/4 bath/1 half-bath, 5,321 sq ft single family home with 3 car garage on a 15,294 sq ft lot. Broker comments are “Sighted on high promontory, one of Aspen’s best view lots. Unparalleled views of Aspen Mountain, Independence Pass and the Roaring fork valley. This classic, yet contemporary five bedroom home features warm, elegant interiors with abundant natural light. Upstairs the private master and guest master suite delights with an adjacent cozy den with large glass sliding doors and picture perfect views. The open living areas and seamless connection to the outdoors are also great for accommodating large gatherings or intimate dinner parties with equal finesse.” 2015 Taxes: $8,625; HOA Dues: $200 per Yr. Under Contract Date: 07/07/2015; Sold Date: 10/01/2015. (Photos and broker comments courtesy of Aspen Estates, Inc)

MLS #138812 – 700 Monarch, Central Core, 700 Monarch Street 306, Aspen, CO. Sold Price: $1,815,000/$1,412 sq ft; furnished. More details below photos.

MLS #138812 – 700 Monarch, Central Core, 700 Monarch Street 306, Aspen, CO. Sold Price: $1,815,000/$1,412 sq ft; furnished. Asking Price: $1,880,000. (Original Price: $1,880,000 and 160 days on the market since 05/01/2015.) This is a 1971 built and 2002 remodeled, 3 bedroom/2 bath, 1,285 sq ft condo. Broker comments are “A bright and airy, top-floor corner condominium unit perfectly located as a staging ground for play in Aspen. From this modern condominium rooted in tradition, take in views of Ajax, Shadow Mountain, and Red Mountain. Cathedral ceilings throughout, all brand new kitchen appliances, a private master suite, generous storage space, and covered assigned parking fulfill the coveted essentials of vacation home ownership. In a quiet enclave of condominiums close to it all—150 feet away from Lift 1A and a two block stroll from the action downtown. A terrific location that will only get better given the imminent nearby Lift 1A base development.” 2014 Taxes: $2,828; HOA Dues: $2,240 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/18/2015; Sold Date: 10/08/2015. (Photos and broker comments courtesy of Aspen Snowmass Properties|BJ Adams and Company – Aspen)

MLS #139554 – Larkspur Condominiums, Central Core, 800 E Hopkins Avenue Unit A-1, Aspen, CO. Sold Price: $1,650,000/$1,145 sq ft; unfurnished. More details below photos.

MLS #139554 – Larkspur, Central Core, 800 E Hopkins Avenue Unit A-1, Aspen, CO. Sold Price: $1,650,000/$1,145 sq ft; unfurnished. Asking Price: $1,995,000. (Original Price: $1,995,000 and 87 days on the market since 06/15/2015.) This is a 1974 built and 2005 remodeled, 2 bedroom/2 bath/1 half-bath, 1,440 sq ft condo. Broker comments are “SOLD AS PART OF A TRADE. Literally within steps of the gondola, restaurant row, the Wheeler Opera House and so much more, this Larkspur condo is a perfect combination of location & amenities in a two level configuration. Cozy living spaces welcome you on the first level with a well-appointed kitchen, powder room, dining area, living room & private office, while the master suite and guest suite enjoy privacy on the lower level. Covered decks on both levels allow for outdoor enjoyment fronting a quiet tree-lined street, while offering up views of Aspen Mountain. Beautifully finished and offering faux finished walls, hardwood floors, custom built-ins and storage, granite counters, a wood burning fireplace & walk-in Master closet. Owning this 1,440 square foot unique & rarely available condo means you have arrive” 2014 Taxes: $3,003; HOA Dues: $1,500 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 07/01/2015; Sold Date: 09/10/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #140695 – Aspen Alps, Central Core, 700 Ute Avenue Unit #109, Aspen, CO. Sold Price: $1,325,000/$1,172 sq ft; partial furnished. More details below photos.

MLS #140695 – Aspen Alps, Central Core, 700 Ute Avenue Unit #109, Aspen, CO. Sold Price: $1,325,000/$1,172 sq ft; partial furnished. Asking Price: $1,395,000. (Original Price: $1,395,000 and 47 days on the market since 08/20/2015.) This is a 1963 built, 2 bedroom/3 bath, 1,130 sq ft condo. Broker comments are “This prime central core end unit is located in the sought after Aspen Alps 100 Building just steps to the gondola and walking distance to fine shops and dining. This 2 bed 3 bath top floor property with assigned parking for owner, loft, fireplace, and high ceilings can be a prime rental or lovely personal residence. The dining area doubles for optional third bedroom. The unusual loft offers sleeping for an additional 5 guests if needed. All Aspen Alps amenities which includes in house shuttle service, pool, hot tub, complete exercise facility, on-site management, etc. Hurry, this special one of a kind unit is aggressively priced to move. Showings by appointment only.” 2014 Taxes: $3,430; HOA Dues: $2,288 per Month. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 08/22/2015; Sold Date: 10/06/2015. (Photos and broker comments courtesy of Premier Residential Properties)

MLS #136084 – Gant, Central Core, 610 West End Street G-102, Aspen, CO. Sold Price: $1,150,000/$1,166 sq ft; furnished. More details below photos.

MLS #136084 – Gant, Central Core, 610 West End Street G-102, Aspen, CO. Sold Price: $1,150,000/$1,166 sq ft; furnished. Asking Price: $1,195,000. (Original Price: $1,195,000 and 763 days on the market since 06/14/2013.) This is a 1972 built and 2014 remodeled, 2 bedroom/2 bath, 986 sq ft condo. Broker comments are “Located on the quiet side of the complex, this private 2 bedroom, 2 bath, 986 square foot updated unit in the premier Gant Condominiums is in close proximity to the upper pool and barbeque areas. Inviting, comfortable living spaces and the well-appointed kitchen & bathrooms make this the perfect home away from home…without any of the work. Enjoy unparalleled amenities including valet & bell service, personalized concierge, child care, daily housekeeping, fitness center, two year-round heated outdoor pools, three spa tubs, five tennis courts, access to the Aspen Club & Spa, ski storage & tuning, high-speed wireless internet access, business/conference center, & complimentary in-town transportation. Just 3 blocks to the Silver Queen gondola!” 2014 Taxes: $2,860; HOA Dues: $23,564 per Yr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 07/17/2015; Sold Date: 10/06/2015. (Photos and broker comments courtesy of Aspen Snowmass Sotheby’s International Realty-Hyman Mall)

MLS #131987 – Chateau Roaring Fork, Central Core, 1039 E Cooper Avenue #43, Aspen, CO. Sold Price: $557,750/$569 sq ft; furnished. More details below photos.

MLS #131987 – Chateau Roaring Fork, Central Core, 1039 E Cooper Avenue #43, Aspen, CO. Sold Price: $557,750/$569 sq ft; furnished. Asking Price: $695,000. (Original Price: $695,000 and 706 days on the market since 10/29/2013.) This is a 1969 built, 2 bedroom/2 bath, 980 sq ft condo that os sub-grade, hence the significant discount. Broker comments are “Far and away the lowest priced two-bedroom condo in the core of Aspen. This lower-level 980 square foot unit has a remodeled kitchen and an open floor plan. Located in the Chateau Roaring Fork complex, these condos are known for their short-term rental history. Amenities include year-round swimming pools with hot-tub and sauna, owner’s basement storage, ski-lockers, off-street parking, club house, and located only four blocks to the gondola and center of town. Pets are allowed for owners.” 2012 Taxes: $1,933; HOA Dues: $2,358 per Qtr. City of Aspen RETT Transfer Tax of approx. 1.5% payable by buyer. Under Contract Date: 10/05/2014; Sold Date: 10/05/2015. (Photos and broker comments courtesy of Aspen Real Estate Company)

MLS #140353 – Aspen Airport Business Center, West Aspen, 319 Aabc Rowhouse Unit 11 Wx, Aspen, CO. Sold Price: $555,000/$426 sq ft; unfurnished. More details below photos.

MLS #140353 – Aspen Airport Business Center, West Aspen, 319 Aabc Rowhouse Unit 11 Wx, Aspen, CO. Sold Price: $555,000/$426 sq ft; unfurnished. Asking Price: $550,000. (Original Price: $550,000 and 71 days on the market since 07/29/2015.) This is a 1996 built, 1 bedroom/2 bath, 1,302 sq ft townhouse. Broker comments are “Must be purchased by qualified APCHA buyer.” 2014 Taxes: $1,165; HOA Dues: $446 per Qtr. Under Contract Date: 07/29/2015; Sold Date: 10/08/2015. (Photos and broker comments courtesy of Lightfoot Real Estate)

Tim Estin welcomes your business, inquiries and comments. Call him at970.309.6163or email him from theContact Page. Subscribe to The Estin Report and blog on twitter@EstinAspenby clicking “Join the conversation” button below or click one of the different subscription options in banner at the top of page:

Recent Estin Report tweets on Aspen Real Estate

{loadposition articlepos}

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.”

_______________________________________