“The Starwood estate includes a 15-bedroom, 16-bath, 56,000-square-foot main house that is larger than the US White House, plus several outbuildings, its own water treatment plant, gas pumps, and other bells and whistles to make it a completely self-contained compound. Rumors of an impending sale have circulated for months, but interest in the property has always been high—it appeared on a 2010 VH-1 special titled “The most insane real estate on the planet,” and entertained numerous inquiries and even a few offers when it was up for a sale a few years” ABJ article June 1, 12. Bandar sold off other related properties he owned nearby during the real estate frenzy. Florida developer Jeffrey Soffer paid $36.5 million in 2009/2010 for a 14,400-square-foot pad which was one of the highest prices in local history. Bandar also sold a 9,500-square-foot home for $8.6 million and a 7,200-square-foot home for $3.9 million in 2007.

ASPEN REAL ESTATE – Hala Ranch, the luxury Starwood spread of Prince Bandar bin Sultan of Saudi Arabia, sold Thursday for $49 million, marking one of the largest real estate transactions in Pitkin County history. The buyer is identified in public records only as Starwood Mountain Ranch LLC, which was incorporated in March by a local law firm. The corporation purchased “lot 1” on the property for $8 million, and “lot 2” for $41 million. Prince Bandar was Saudi Arabia’s ambassador to the United States from 1983 to 2005. He listed his 95-acre ranch and the 56,000-square-foot home in 2006 for $135 million, but officially pulled it off the market 16 months later….He previously had sold two of his other Starwood homes for a combined $49 million in 2007.
By Curtis Wackerle, June 1, 2012 ADN

Link to ADN article Link to Bloomberg article 6/5/12

Hala Ranch is located in Aspen’s only gated community, Starwood, made famous by John Denver’s song “Starwood at Aspen”. After the estate was completed, the Pitkin County Board of County Commissioners passed a home size limit restricting residential dwellings to no more than 15,000 sq ft.