Peace Ranch, a secluded property located up Taylor Creek in the Fryingpan Valley, which owners Tom and Molly Bedell listed for nearly $50 million two years ago, sold for $17.2 million Wednesday to a limited liability company.
Tommy Latousek, of Douglas Elliman Real Estate/Joshua & Co., which handled the listing, said the buyer, 2900 Taylor Creek Road Holdings, LLC, expects to maintain the 610-acre property as a ranch.
“They are folks that own property in the Aspen area,” Latousek said of the buyer. “We expect that they’re going to keep it as a ranch. They’re not developers.”
The sale includes five houses that total about 11,000 square feet, all of which are new or recently remodeled, and boasts an indoor riding arena for equestrians as well as surrounding accouterments that cover a full acre. Other amenities at the property include four stocked trout ponds, numerous trails, various corrals and a snowmelt system.
In the summer 2013, the price was lowered to around $40 million. About a year later, Peace Ranch headed to the auction block in New York, but a day before the event, the Bedells received an offer on the property. Latousek said the drop in price reflects the motivation of the seller and the present market.
“That’s a pretty amazing package,” Latousek said. “It’s one of the top sporting ranches in the West and then you add its proximity to Aspen.”
Representing the buyer with Re/Max Premier Properties, Brenda Wild said in an email that the new owner recognized the unique aspects of Peace Ranch as being “one of the most magnificent parcels in and around Colorado.”
“The new owner will continue to care and be a steward of Peace Ranch,” she said.
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