An Aspen Estate Sells for $108 Million, Becoming Colorado’s Most Expensive Residential Sale

Earlier this month, The Wall Street Journal reported that casino tycoon Steve Wynn was in contract to buy a four-acre estate in Aspen from billionaire Thomas Peterffy, a pioneer in computerized stock trading, for over $100 million. The deal closed this week for a record-breaking $108 million, surpassing a $77 million Aspen home that sold just last week to become Colorado’s most expensive residential sale ever. Riley Warwick of the Saslove & Warwick team at Douglas Elliman represented both the buyer and the seller.

Zillow values the home at $91 million. However, homes of this size are somewhat rare for the area, and the fact that Pitkin County has set a cap of 9,250 square feet on future homes no doubt added to the property’s appeal and hefty sales price.

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The Red Mountain residence offers 11 bedrooms and 15 bathrooms spread across 21,476 square feet of living space. In addition to the main house, the property features a guest home and a heated outdoor pool. The chalet-style abode was built in 2006 after the land was acquired for $7 million in September 2003, according to The Denver Post. It came to market for the first time in July 2009, selling for $43 million, and then former Canadian hockey player Patrick Dovigi snapped it up in 2021 for $72.5 million.

Wynn, the art-collecting founder of Las Vegas’ Bellagio and Wynn resort casinos,  is a well-known trophy home collector who maintains homes across the country. He has successfully bought and sold several homes in Palm Beach over the last four or five years but has had some trouble selling his homes in New York and Los Angeles. After slashing the price from $90 million to $65 million and still getting no takers, he took his 11,000-square-foot Manhattan penthouse off the market late last year, and earlier this year he re-priced Villa Lulu, his Beverly Hills home, at $65 million, far below the original asking price of $135 million but still well above the $48 million he paid.

Only about two dozen homes have ever sold for $100 million in the United States, WSJ reports, with the bulk of them being in Manhattan, Miami, Palm Beach, and Los Angeles, including Malibu. And now, with Wynn’s record-shattering purchase, Aspen has officially joined the big leagues.

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