The real estate brokers at Portfolio Aspen Properties announce the sale of a 504-acre wildcat ranch, once owned by actor Michael Douglas, for $44 million, making it Aspen’s highest sale since 2004.
A sought-after ranch on a 504-acre parcel in the prestigious Wildcat subdivision near Snowmass Village, Colorado broke records in the Aspen area when it closed on September 26, 2013, for $44 million. It is the largest sale in the Aspen area real estate market since 2004 when Mandalay Ranch sold for $46 million.
The property includes a 24,000-square-foot, three-level main house with just four bedrooms, six bathrooms and six half bathrooms. There is a game room, a home theater, and a four-vehicle garage. Additionally, the ranch includes a two-bedroom guest house and a five-stall barn. The property’s 504-acre lot features various ponds and pastures with exceptional views of the Rocky Mountains to the east, south, and west.
The property was developed in the early 1990s by a group of investors, including actor Michael Douglas, who developed this parcel for himself but only got as far as constructing the guest house. Douglas sold the property to JVB Properties LLC, and JVB completed the development of the ranch.
“This sale, along with other big recent sales, shows there is an appetite for unique, high-end homes and ranches in the Aspen area,” said Erik Berg, owner of Portfolio Aspen Properties. “This is also another good example that people believe in the strength and longevity of the Aspen real estate market and it is a good place to invest.”
JVB listed the property for sale at $50 million and sold it to Skyridge Homes LLC.
For more information on Aspen and Roaring Fork Valley real estate or Portfolio Aspen Properties, call us at (970) 925-8400.
About Portfolio Aspen Properties
Portfolio Aspen Properties draws from the largest and most comprehensive network of available homes in Aspen and the Roaring Fork Valley to make sure its clients see all of the properties that meet their criteria. Portfolio brokers deal with clients looking to buy Aspen property, sell Aspen property, and invest in Aspen property. The company also provides its clients with a diverse collection of high-caliber luxury rental properties in the Aspen area.
Originally published in PRWeb.
