In the News
Tim Estin has contributed articles and comments on Aspen real estate in the following publications:
ABJ: Aspen Business Journal AM: Aspen Magazine BB: Bloomberg News
ADN: Aspen Daily News LRER: Luxury Real Estate Report CPR: Colorado Public Radio
AT: Aspen Times DP: Denver Post LRE: LuxuryRealEstate.com
RMT: Rocky Mountain News WSJ: Wall St Journal KAJX: Aspen Public Radio
ASM: Aspen Sojourner Magazine MBJ: Mountain Business Journal NW: NewWest.net
ML: Merrill Lynch Wealth Mgmt Report
Article links are below.
Hedge-funder John Paulson is Prince Bandar's Aspen Estate Buyer for $49M, ADN
Aspen broker Tim Estin said the Hala Ranch purchase will bring the total dollar volume of real estate sales closer to last year, which saw more real estate dollar volume through May than 2012. In his monthly real estate report, Estin reported that as of May, total dollar volume was 25 percent down year-to-date from 2011. “There is some reason for optimism that it’s not going to be as worse as we thought,” he said. He also noted that a Maroon Creek riverfront estate built in 2008, on the market since June 2007 at an asking price of $29.95 million, went under contract last week and is scheduled to close at the end of July. “These two sales should bring the year’s total sales dollar volume closer to last year,” Estin's report reads. He noted that the deficiency in total dollar sales for 2012 is largely due to the lack of “big ticket” sales — $10 million or more, in the first five months of this year. From Jan. 1 to May 31, there were four single-family home sales over $10 million. From Jan. 1, 2011 to May 31, 2011, there were 12 sales over $10 million.
ASPEN REAL ESTATE - Last week’s purchase of Saudi Prince Bandar bin Sultan’s Hala Ranch is one of the largest single-residence real estate transactions in Aspen’s history, and combined with other sales on the sprawling property, is by far the most generated by one owner. It was confirmed on Tuesday that hedge fund manager John A. Paulson, president and founder of Paulson & Co., Inc. was the buyer of Bandar’s Hala Ranch in the Starwood subdivision. The entire 130-acre property is located in a gated community on the slopes of Red Mountain...Paulson bought the 90-acre Hala Ranch for $41 million and a 38-acre adjoining parcel known as Bear Cabin for $8 million.and while the sale of Hala Ranch is not the highest recorded sale in the Aspen market, it’s close, said Tim Estin, a broker with Coldwell Banker Mason Morse Real Estate.
By Carolyn Sackariason, June 6, 2012 ADN
Link to article