zip code

Aspen Comeback? Now Most Expensive Zip Code in U.S.

The real estate market in Aspen, CO has recovered somewhat and its priciest zip code is now the most expensive neighborhood in the U.S., according to a new ranking by Forbes. Back in February we reported on the dire straits of Aspen real estate, when Sotheby's International Realty shuttered its Aspen office in the wake of plummeting sales. Now Aspen's south end 81611 zip code, home to ultra-luxe ski lodges, is top of the field with an impressive $6.5 million median home sale price, the magazine reports. However the seasonal nature of the Aspen market gives it a yearly boost which might well mean its triumph is temporary; and indeed the big picture is still pretty glum. "In 2007, the market in our valley was $2 billion in sales," top Aspen broker Steve Walker tells Forbes, "this year it'll be between $500 million and $1 billion. In volume and dollars, it's been a 50% drop."

We predict that Beverly Hills, which is currently in 3rd place, will quickly eclipse Aspen especially since a mansion was just sold there for $31.5 million, the most expensive property sold in California so far this year, while a second recently changed hands for $22 million. The former, a 27,000-sq.-ft. Norman-style estate on 2 acres with 10 bedrooms, 14 baths and seven fireplaces, had originally been listed at $45 million and was on the market for almost nine months. Aspen's neighboring Snowmass Village has also experienced a resurgence. Other neighborhoods that have clocked recent gains include the Hollywood Hills and Chappaqua, NY, while the second most expensive zip belongs to Alpine, NJ, a luxurious New York suburb home to Wall Street execs and rap moguls like Sean Combs and Damon Dash.

Want to live in the country's priciest zip? There are several choice Aspen properties available including this $60 million estate, this $58 million spread and this cozy $43.8 million ski lodge. Here's the new list of the top five most expensive zip codes in the U.S. as determined by median prices (which are quite high overall right now at the top end):

1. Aspen, CO, 81611: $6.5 million
2. Alpine, NJ, 07620: $4.7 million
3. Beverly Hills, CA, 90210: $4.04 million
4. Snowmass Village, CO, 81654: $3.99 million
5. Newport, CA, 92661: $3.9 million

Tags: Alpine, Aspen, Beverly Hills, BeverlyHills, Colorado, Forbes, Hollywood Hills, HollywoodHills, New Jersey, NewJersey, real estate, RealEstate, Sean Combs, SeanCombs, Snowmass, Sothebys, zip code, ZipCode

Saks New Shoe Department Gets Its Own Zip Code

by Sandy Maple (RSS feed) —

Filed under: Shoes

Saks flagship store on Fifth Avenue in New York is getting a brand new shoe department. Besides adding room for lots more shoes, the fancy new showroom on the 8th floor will include a VIP room for private shopping, lots of seating, a refreshment area and the availability of on site shoe repair. At 8,500 square feet, Sak's new shoe department is so large it is actually getting its own zip code: 10022-SHOE. Well, the zip code is more about promotion than anything else, but imagine 10,000 pairs of shoes in one place! Shoe lovers will have to wait a few months to experience this footwear paradise as the new space won't be complete until August.

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Tags: footwear, new york, NewYork, saks fifth avenue, SaksFifthAvenue, shoe department, ShoeDepartment, shoes, zip code, ZipCode