Penthouse at Dancing Bear Aspen Sells for $16 Million, Setting New Price Per Square Foot Record in Aspen Real Estate Market
From the Robb Report Luxury Newswire
Dancing Bear Aspen – A Timbers Residence Club® announced today the $16,000,000 sale of the penthouse residence within its newly opened Mountainside building, setting a new price per square foot record in the Aspen real estate market. At a price of $5,427 per square foot, the sale tops the previous most expensive residence sold in downtown Aspen earlier this year by more than $1,100 per square foot and caps off more than $40 million in closings at the new Mountainside building in Q4 2016 alone.
“The industry often looks to Aspen as the benchmark for how the luxury homeownership market is performing overall and compares it with other high-end markets like New York City,” said Randall Bone, CEO of Sunrise Company, the developer of Dancing Bear Aspen. “The sales volume we’ve achieved this year is truly unprecedented. While many speculate the Aspen market is down year-over- year, we see the recent closings at Dancing Bear pointing toward a revitalization of the local luxury real estate market and a true testament to the five-star service and amenities we provide our owners.”
The penthouse, sold to a local Aspen resident, boasts 2,948 square feet including four bedrooms, four-and-a-half bathrooms and 3,500 square feet of outdoor living space on one of the largest residential rooftop decks in downtown Aspen. Located at the base of one of Colorado’s most renowned ski slopes, the Mountainside building also features 10 three-bedroom, three-and-a half-bathroom corner residences averaging 1,900 square feet and sold in 1/8th fractional interests starting at $825,000.
“We’ve seen tremendous interest from buyers on our fractional ownership residences in Aspen and we are encouraged by the activity since releasing the Mountainside units for sale,” added Mr. Bone. “We’re outperforming the market as a result of increasing demand for Dancing Bear Aspen’s desirable downtown location, luxurious amenities, and personalized service that buyers are not offered at other properties or through whole ownership. Our team is confident the remainder of the fractional ownership residences will sell out well ahead of our anticipated timeframe.”
Most recently, Dancing Bear Aspen introduced a Rejuvenation Spa featuring five spaces of tranquility and relaxation, including a Float Pod saline flotation tank, an oxygen aromatherapy lounge, two hydro-massage stations, an overhead water treatment area and a steam chamber. Mountainside will also welcome a new full-service restaurant and bar in summer 2017. Dancing Bear Aspen owners have access to the full suite of amenities housed in the Parkside building, including a private screening room, fitness facility, wine room and cellar, rooftop lounge and spas, and preferred access to The Monarch steakhouse.
Ownership grants membership in the Timbers Collection, with a host of perks and privileges from travel and lifestyle partners, as well as reciprocity within the Timbers Resorts portfolio of residence clubs worldwide.