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 bad 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, 12 ADN

Link to article

Credit: NY Times Magazine, Michael Brands Photo

Pitkin Co Assessor Records

Bandars place, now Paulsen: Main House (MLS 129006, sold 05/31/12 at $41M) and Guest House (MLS 129007, sold 05/31/12 at $8M)

Legal Description
Subdivision: STARWOOD RANCH SPLIT Lot: 2

Location
Physical Address: 770 KESSLER DR ASPEN
Physical Address: 691 KESSLER (WASTE TREAT) DR ASPEN
Physical Address: 680 KESSLER DR ASPEN
Subdivision: STARWOOD RANCH SPLIT
Land Acres: 90.010
Land Sq Ft: 0

2014 Property Value Summary
Actual Value Assessed Value
Land: 5,500,000 437,800
Improvements: 31,409,000 2,500,160
Total: 36,909,000 2,937,960

Sale Date: 5/31/2012
Sale Price: 41,000,000
Additional Sales Detail
Basic Building Characteristics
Number of Residential Buildings: 3
Number of Comm/Ind Buildings: 0
Residential Building Occurrence 0 Characteristics

FINISHED BSMT: 26,000
STONE PATIO: 1,550
WOOD BALCONY: 1,000
GARAGE DETACHED HEATED: 324
2ND FLOOR: 10,377
FIRST FLOOR: 16,520
ROOF DECK: 8,700
FINISHED GARAGE HEATED: 5,600
Total Heated Area: 52,897
Property Class: SINGLE FAM RES-IMPROVEMEN
Actual Year Built: 1991
Effective Year Built: 1991
Bedrooms: 15
Baths: 16
Quality of Construction: EXCEL T 14
Exterior Wall: STONE VEN
Interior Wall: DRYWALL
Floor: CARPET
Floor: CUT STONE
Heat Type: ENG RAD HT
Heating Fuel: GAS
Roof Cover: COPPER
Roof Structure: GABLE/HIP
Neighborhood: STAR MOUNTAIN RANCH TRACTS
Super Nbhd: STARWD AND WHS

Legal Description
Subdivision: STAR MOUNTAIN RANCH TRACTS Lot: 1
Location
Physical Address: 853 N STARWOOD DR ASPEN
Subdivision: STAR MOUNTAIN RANCH TRACTS
Land Acres: 35.800
Land Sq Ft: 0

2014 Property Value Summary
Actual Value Assessed Value
Land: 5,000,000 398,000
Improvements: 10,713,100 852,760
Total: 15,713,100 1,250,760

Sale Date: 5/31/2012
Sale Price: 8,000,000
Additional Sales Detail
Basic Building Characteristics
Number of Residential Buildings: 2
Number of Comm/Ind Buildings: 0
Residential Building Occurrence 0 Characteristics

UNFINISHED BSMT: 1,500
FIRST FLOOR: 7,000
GARDEN LEVEL BSMT: 3,700
GARAGE DETACHED HEATED: 1,456
2ND FLOOR: 2,700
WOOD DECK: 870
Total Heated Area: 13,400
Property Class: SINGLE FAM RES-IMPROVEMEN
Actual Year Built: 1992
Effective Year Built: 2000
Last Remodel: 2013
Bedrooms: 4
Baths: 6
Quality of Construction: EXCEL T13+
Exterior Wall: LOG 24″
Interior Wall: LOG INTER
Floor: WOOD
Heat Type: RAD WATER
Heating Fuel: GAS
Roof Cover: SLATE
Roof Structure: GABLE/HIP
Neighborhood: STAR MOUNTAIN RANCH TRACTS
Super Nbhd: STARWD AND WHS