Everyone talks about the price of real estate in New York and Southern California but what about the luxury retreat of Aspen, Colorado? The economic crisis has hit the winter retreat hard lately. The Aspen Daily News reveals that October had the lowest monthly volume of real-estate sales in Aspen since December 2004. Sales this year through October are down 47 percent compared to 2007.
The numbers are pretty dramatic. While over the past couple years real estate sales have had some $200 and $300 million months, this year's biggest month, August, brought just $160 million. The October property transactions in Pitkin County were a little more than half that at $86.5 million. Development in Aspen has slowed meaning that fractional and condo units aren't being closed on as quickly. Real estate brokers are telling people that it's a buyers market for those interested in making a deal in Aspen. You'll still pay millions for a luxury ski home, just a few less million than you would have a few years ago.
Moncler, the Franco-Italian luxury outerwear brand known for its sleek puffers and fashion-forward parkas, is finally slated to open its first freestanding boutique in the U.S.
The Aspen-based flagship will resemble a modern ski chalet, according to Fashion Week Daily, and is set to open November 28 -- just in time for Thanksgiving weekend skiers...and shoppers.
The jacket shown at right is currently available at Bergdorf Goodman for $1,075.
The Lusso Collection portfolio of multi-million dollar residences in the world's most desirable vacation spots has just announced an exclusive new membership club. The 30 properties in the Collection, worth an average of $4 million each, are located in luxe spots such as Cabo San Lucas, Aspen, Miami, Hawaii and the Bahamas (the Turks & Caicos property is pictured above). Each features an on-site concierge, pre-arrival grocery shopping and a chauffer service from the nearest airport. The new offering enables members to experience the properties for 21 days out of the year for a deposit of $325,000 and annual dues of $21,000. Only 50 of the Lusso 21 memberships are available. By year's end the company plans to expand its portfolio to 39 properties in 21 destinations, including Europe.
$80 billion private equity firm The Carlyle Group just announced plans to acquire a 48% stake in Moncler, the French luxury sport label founded in 1952 famed for its stylish down jackets. In fact, Moncler claims credit for inventing the down-filled ski jacket, which it has supplied to French Olympic teams for the winter games since the 1960s. The jackets have become extremely fashionable and can be seen on the slopes from Aspen to Gstaad. The company has collaborated with the likes of Balenciaga, Yohji Yamamoto and Fendi. It's high-end Gamme Rouge line is designed by Italian fashionista Giambattista Valli. "Moncler is a historic sport luxury garment brand that has returned to play a relevant and prestigious role in the market," Carlyle Group managing director Marco De Benedetti said in a statement, noting plans for expanding the company globally.
Free-spending Russian billion Roman Abramovich is at it again. Just a week after we learned that he is working on a home that will be the most expensive private residence in Britain, we learn he's also picked up an Aspen home. This isn't just any Aspen home, this is Wildcat Ridge, the modern home of Leon Hirsch. We've been following Hirsch's struggle to sell this home since February of 2005. Back then Hirsch listed his home for $35 million. Since then he's switched real estate brokers a couple of times and has even put it up for actuion a couple of times with no luck. Another man might have dropped his price looking for a sale but Hirsch's stubbornness seems to have paid off, he sold to Abramovich for $36.375 million.
Abramovich is getting quite a home. Wildcat Ridge has 11 bedrooms is perched at an elevation of 9,200 feet on Wildcat Ridge offering views for miles. The home, designed by Voorsanger Architects, has a dramatic folded plate roof and a large moss rock wall dividing the east and west wings of the building. The home gets its energy from 60 geothermal wells so that it is virtually self sufficient. The wells heat the home, driveway and pool during the winter months and provide cooling in the summer. It also comes with 32 pieces of furniture custom designed for the home.
The Neighborhood Scout chooses Breckridge, Colorado as a cheaper way to live the skiing life than Aspen, Colorado. In Apsen, the median house price is $1.6 million but in Breckenridge the median is just $618,892. Breckenridge is a ski resort that is rapidly growing in popularity and amenities. We recently covered One Ski Place, the large condo complex planned for the area.
In Aspen we looked at a huge property that is listed at $58 million. Today's home is far more modest but has a lot to offer for the snow aficionado. This home is located in the Timber Trail ski in, ski out community. From this house you can ski straight to the Colorado or Rocky Mountain quad chairs. The home has seven bedrooms including three master suites and seperate kid's quarters with boys and girls bunk rooms, bathrooms and their own den. There is also an in-home cinema and the great room has massive full round log beams. Apres ski relaxing includes a spa room and a hot tub by the outside fireplace. This is the most expensive home currently on the market in Breckenridge and it is listed at $5.895 million.
For the next couple of weeks we will be checking out some homes in the most expensive zip codes in the United States, up today, 81611 . This zip code encompasses the perennially fashionable ski town of Aspen, Colorado and has a median price of $1,630,000 with an appreciation rate of 184% since 1990. This scenic town caters to the some of the wealthiest snowbunnies in the world. It was in the real estate spotlight in 2006 when a Saudi prince put his home on the market for $135 million (he sold off smaller homes and later pulled his Hala Ranch off the market).
Today's home is listed at less than half of that estate and is still one of the most expensive in the nation. Elk Song Ranch is 67 acres of property that offers the ultimate in a quiet mountain getaway.The property includes a large pond and trails for horseback riding, snowmobiles and cross-country skiing. The home itself is 20,000 square feet with seven bedrooms, a large grat room with sunken bar, gourmet kitchen, formal dining room, exercise room, game room and a master suite that includes his and hers bathrooms, an office and outdoor space with a hot tub. The outdoor patios are large enough to host a wedding and as you might imagine, the views are tremendous. This home is listed at $$58 million.
Gallery: Most Expensive Zip Codes, 81611, Aspen, CO
One of the priciest homes for sale in the United States has been taken off the market. Saudi Prince Bandar bin Sultan has decided to keep the Hala Ranch near Aspen, Colorado, after finding no suitable offers for the home which was for sale for $135 million. The 56,000-square-foot mansion has been up for sale since 2006.
The Aspen Daily News reports that the news is good news to the many locals in the area who benefit when the Prince and his large entourage are in town. The Prince is said to be a generous tipper who has also employed many locals. He has also contributed toward non-proftis in the area.
The cream of the crop is officially all in one spot as the Robb Report, a global luxury source, recently released their limited edition series of rare items and unforgettable trips. From timepieces to cars, jewelry to wine, and trips to Aspen or Manhattan this list has something special for everyone and is bound to trip your trigger for must-haves. Imagine surprising someone with one of these unique gifts for the holidays! But don't wait too long -- the items went live for purchase a few days ago. Peruse the gallery and see for yourself the amazing offerings from Robb Report listed below:
Louis XIII de Rémy Martin's Robb Report Limited Edition Century-Old Barrel of Cognac: $2 million
ECOSSE Moto Works' Robb Report Limited Edition Titanium Series Motorcycle and Timepiece: $275,000
Steinway Lyngdorf's Robb Report Limited Edition Steinway & Sons Custom Model D Music System: $250,000
You probably aren't thinking about skiing right now but if you are dreaming of winter in Aspen prepare to spend more than ever. It has been announced that a one-day, walk-up lift ticket to Aspen during peak ski season will cost you $87 which is up $5 from last year. The new price gives Aspen the dubious honor of being the priciest lift ticket for now. Vail had the top spot last year at $85.
From now until September 7, Aspen Snowmass is offering season passes at their "super early' rate. A premier pass which offers unlimited skiing/riding on four mountains as well as discounts in the pro shop costs $1,699 now but will sells for $1,999 in November.
Sir Anthony Hopkins has joined the ranks of celebrities who paint (a group that includes Tony Bennett, Jane Seymour and Sylvester Stallone among others). Dreamscapes, an exhibition of paintings by Hopkins is currently on display at theMW Gallery in Aspen, Colorado through July 10. In an article on Artnet, dealer Robert Casterline says the works include abstract landscapes and surrealistic faces. The star began painting a few years ago and according to icWales, he would rather be painting than acting at this point because there are no more challenges for him in the acting world. The paintings are priced at $4,000-$20,000.
If the Hala Ranch is just a big out of your price range, you might want to consider The Ponds, another estate in the Aspen area. The Ponds was designed by architect Bill Poss in the early 1990s and has over 11,000 square feet of space. The home sits on a two acre site with aspen groves, a stream that flows into waterfalls and a series of private ponds. The style of the home is unashamedly lavish with log columns and stonework giving a brief nod to the fact that this is a western home. The home has five bedrooms plus a staff bedroom, a media room, workout area, outdoor pool and Jacuzzi. It is listed at $27.5 million. After the jump, arches, arches everywhere.
Someone's going to have to explain this one to me because I'm not quite certain why this Aspen condo is so expensive. I'll admit that it does have a certain appeal being located in the center of town and the quaint Hyman Avenue Mall. The three-bedroom condo is around 4,000 square feet and offers lots of exposed brick and large windows. The unit has hot tubs on each side of the unit and the top floor can be locked off for use as a rental or guest area. The home also has a rooftop deck, separate office area, and an open living and kitchen area. Still, for $9,900,000 it seems like you could do buy yourself a ski house or a condo in a co-tel arrangement with more amenities. After the jump, check out the design and tell me if you think it is worth the price.
This French Country chateau in Aspen, Colorado is located less than 1 flat mile from the gondola. The lavish home was built in 2000 and has 1.3 acres that includes 5 ponds & 3 waterfalls. The home includes such over-the-top details as an English Gentleman's pub, theater, wine room, library, recreation room and an exercise room. The details in this home include rooms heavy with reclaimed timber beams, marble fireplaces (gas, of course because who wants to get their hands dirty building an actual fire), and a huge saltwater aquarium with tropical fish.The home includes a 1500 sq ft heated patio and deck with a Jacuzzi and firepit. This home is listed at $18.5 million. After the jump, be sure to check out the lion next to the fireplace in the great room.
This beautiful house in Aspen Colorado offers not just mountain views and easy access to the slopes but it is also on the golf course of the Maroon Creek Club offering you something to do after the snow has melted. The five-bedroom home was built in 2000 and has a stone and cedar exterior. There are three levels and grounds include a hot tub and a fire pit. The home has over 8700 square feet of space. Similar homes in the area are used as luxury rentals renting for several thousand dollars a night. It is listed at $10.95 million. After the jump, let's hope not all the fireplaces are painted on.
Everyone talks about the price of real estate in New York and Southern California but what about the luxury retreat of Aspen, Colorado? The economic crisis has hit the winter retreat hard lately. The Aspen Daily News reveals that October had the lowest monthly volume of real-estate sales in Aspen since December 2004. Sales this year through October are down 47 percent compared to 2007..jpg)
Moncler
