Just recently, The Wall Street Journal disclosed that Steve Wynn, renowned casino magnate, had finalized a deal to acquire a sprawling four-acre estate in Aspen from billionaire Thomas Peterffy, a trailblazer in computerized stock trading, for a staggering sum exceeding $100 million. This transaction, completed within this week, set a new benchmark in real estate history, eclipsing the $77 million sale of another Aspen property just the week prior, thus claiming the title of Colorado’s most exorbitant residential purchase to date. Facilitating the deal was Riley Warwick of Saslove & Warwick, representing both the buyer and the seller.
While Zillow pegs the property’s value at $91 million, homes of such grandeur are relatively uncommon in the area. Moreover, Pitkin County’s imposition of a 9,250-square-foot cap on future residences likely contributed to the allure and subsequent hefty price tag of this estate.
Nestled in the prestigious Red Mountain enclave, the residence boasts an impressive array of amenities, including 11 bedrooms and 15 bathrooms spread over a sprawling 21,476 square feet of living space. Complementing the main house are a guest home and a heated outdoor pool, adding to the allure of this chalet-style abode. Originally erected in 2006 following the acquisition of the land for $7 million in September 2003, as reported by The Denver Post, the property first entered the market in July 2009, fetching $43 million. Subsequently, former Canadian hockey player Patrick Dovigi acquired it in 2021 for $72.5 million.
Steve Wynn, the avid art collector and visionary behind Las Vegas’ renowned Bellagio and Wynn resort casinos, is no stranger to acquiring prestigious trophy homes across the nation. While he has lucratively bought and sold several properties in Palm Beach over the past few years, he has faced challenges in offloading his residences in New York and Los Angeles. After slashing the price of his 11,000-square-foot Manhattan penthouse from $90 million to $65 million without attracting buyers, he opted to withdraw it from the market late last year. Furthermore, earlier this year, he adjusted the price of Villa Lulu, his Beverly Hills residence, to $65 million, a considerable drop from the initial $135 million asking price, yet still substantially higher than the $48 million he initially paid.
According to The Wall Street Journal, only around two dozen properties have ever commanded prices exceeding $100 million in the United States, with the majority situated in prime locations such as Manhattan, Miami, Palm Beach, and Los Angeles, notably including Malibu. With Wynn’s recent landmark acquisition, Aspen has undeniably cemented its status among these prestigious locales.
