Link to report
This planner’s report is a useful reference for the redevelopment potential of a non-historic, older ‘tear-down’ home in Aspen’s Historic West End. This 9,000 sq ft lot can be redeveloped as a 5,750 sq ft home with discounted sub-grade and garage sq footage with the ability to add TDR’s in 250 sf increments, or as two (2) detached condo/townhomes. See property description below photos.
MLS #138252: 219 N. Monarch St, Historic Aspen West End. Ask and Original Price: $6,995,000. Listed on 3/28/15, the property went under contract on 04/05/15. It is scheduled to close 06/04/15.
It is described in the MLS by listing broker as: (April 17, 2015) “Double your value in one purchase. The only 9,000 sq/ft non-historic West-End lot one block from the Hotel Jerome that allows two detached single family residences. In the same family since 1966, this NE corner has dead-on Views of Aspen Mountain and the best location on this block away from the traffic on Bleeker and away from the hustle and bustle of the Red Brick. FAR of 4,080 for 2 detached residences, however, this is not historic so a buyer could pursue landing two City TDR’s (Transerrable Development Rights at 250 sf per TDR) to increase above grade FAR to 4,580. See land planner’s 3/23/15 Land Use Analysis (link is above). Once in a lifetime opportunity to own the largest non-historic lot on this block for your dream single family home or as a redevelopment opportunity for two (2) detached single family residences.”
Disclaimer: The statements made in The Estin Report represent the opinions of the author and they should not be relied upon exclusively to make real estate decisions. Information concerning particular real estate opportunities can be requested from Aspen real estate broker agent Tim Estin at 970.309.6163or from thecontact page. A potential buyer is advised to make an independent investigation of the market and of each property before deciding to purchase. To the extent the statements made herein report facts or conclusions drawn 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 and the information provided herein is subject to change. The Estin Report is copyrighted 2015 and all rights are reserved. Use is permitted subject to the following attribution with an active link to the source: “The Estin Report on Aspen real estate.”