Once Asking $100 Million, Aspen Mansion Sells for $65 Million

After hitting the market for $100 million last year, a slopeside mansion in Aspen, Colo., has closed for $65 million, according to listing agent Steven Shane of Compass. 

The seller is Detroit manufacturing entrepreneur and philanthropist Joel Tauber and his family, records show. The identity of the buyer is unknown.

Tauber bought the ski-in, ski-out house from department-store heir and media mogul Ted Field for just over $9 million in 1996, according to property records. He listed the property in June of 2022.

Shane said although his client didn’t cut the price, he was realistic about how much the home would fetch. “The $100 million price was warranted, but it was an aspirational ask,” Shane said. 

Still, the deal marks the most expensive home sale in downtown Aspen, he said.

Set on 1.4 acres, the three-story home is built into the side of Aspen Mountain. It was originally built in 1979 and renovated in 2015, records show. The roughly 14,200-square-foot house has 10 bedrooms, two kitchens and about 5,000 square feet of deck and patio space.

Aspen’s current sales record was set in 2021 when former professional hockey player Patrick Dovigi bought a mansion on Red Mountain for $72.5 million. In May, Texas oil heir Christy Thompson sold a mansion near the center of downtown Aspen for $60 million in an off-market deal.

Aspen’s luxury market benefited from a Covid-era boom, fueled by limited inventory and heightened demand. The market has since slowed, and during the first quarter sales dropped 44% from the same period of 2022, according to data from Sotheby’s International Realty. The median single-family home price rose about 20% year-over-year. 

Shane said ultraluxury hasn’t taken a hit. “There’s limited inventory and luxury buyers are not scared,” he said. 

By: E.B. Solomon | Mansion Global \ May 22, 2023