BEFORE
MLS #’S 146885 – 146893 Downtown Aspen Price per Sq Ft Record: Dancing Bear Residences Penthouse – One penthouse unit with 8 fractional 6-week time period interests at 219 E. Durant Ave (Corner of Monarch and Durant), Aspen, CO closed at $16M/$5,318 sq ft for a single unfinished 3,009 sq ft white-box penthouse unit with 3,415 sq ft of deck/patio wraparound outdoor space. More details below photos.
MLS #’S 146885 – 146893 Downtown Aspen Price $ / Sq Ft Record: Closed on 12/05/16: Dancing Bear Penthouse Condo – A single unit with 8 fractional 6-week time periods (interests), unit is 3,009 sf, closed at $16M/$5,318 sq ft (8x $2M each) for an unfinished white-box penthouse with 3,415 of deck/patio wraparound outdoor space. Killer views in all directions – looking straight up Aspen Mountain, views everywhere else too, the uniqueness of this, private access, concierge level amenities. Daily maid service, etc. To apparently be re-listed shortly at $29.95M or approx. $10,000 per sq ft for all 8 shares…one floor, one unit, 2-car parking spots in the in-town garage…one of a kind. Annual fees about $75,000 and add extras for additional a la carte amenities / services to total approx. $85K Yr. Buyer is a local real estate investment group reportedly led by Aspenite Mark Friedland, that has been buying and re-selling a number of high end properties throughout the Downtown Aspen Core, the West End and Red Mountain. The buyer took ownership under 8 Monopoly Game street named LLC’s: Indiana Ave, Tennessee Ave, Illinois Ave, New York Ave, Pennsyvania Ave, Vermont Ave, North Carolina Ave, Pacific Ave. Guess what? Their justification suggests this is not crazy perhaps…”One of a kind”, “Irreplaceable”, are over-used terms but not when it’s so obviously true. For a singular, truly one of a kind Aspen property, a buyer has to step up – this is what you have to do. There are no price per sq ft comparables except international reference points like London, Hong Kong, New York making Aspen look like a bargain …at least until now. Who knows? This is certifiable ‘bragging rights’. A King of the Hill property, etc. It is estimated it will take 4-5 mos to get a finish-out permit, and 8-12 months to completion. At present, it’s a dry-wall only, white box. Contact Aspen broker Tim Estin at 970-309-6163 for further information.(Photo courtesy of Dancing Bear Residences.)
AFTER
MLS # TBD – This record breaking price per sq ft Penthouse was re-listed in early Jan 2017 at a ground-shaking $29.95M/$9,953 sq ft finished product estimated to take 8-12 months to complete.
Contact Aspen broker Tim Estin at 970-309-6163 for further information.
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