Article by Madeline Osberger, Aspen Daily News:
An 11-acre property on lower Red Mountain owned by the same family for more than a half century sold Tuesday for $22 million, a price that appraiser Randy Gold said he believes is the most expensive land sale ever for a single lot in Aspen.
“I think the Rubey sale at $22 million is the highest price, at least that I know of,” Aspen Appraisal Group’s Gold said Thursday in an email.
The sale closed June 27, according to the Pitkin County Assessor’s Office, and includes 11.721 acres with a legal address of 101 American Lane, and a 6,600-square-foot, four-bedroom, five-bath home built in 1965 and improved in 1985.
It’s been the residence for more than 50 years of Houston socialite and Aspen Hall of Fame inductee Marian Rubey Lyeth Davis, whose family started Maxwell House Coffee, and her four children. Catherine Rubey, Karen Rubey, Robert Rubey and the late Tina Rubey Baar’s son were listed with Marian Rubey as the property’s former owners in public records.
The buyer is 101 American Lane LLC. Summer Berg, managing broker, who handled the sale for Engel & Volkers Aspen, did not disclose the owners’ identity.
A structure of up to 19,750 square feet could be built on the property with big Aspen Mountain views, and on a part of Red Mountain where other family-owned lots have sold within the past year, according to Berg. That includes lot 4, which is contiguous to the one that sold this week, and which commanded $18.5 million in late 2016.
Berg said vested rights on the property that allow a home just shy of 20,000 square feet are valid until 2021, suggesting this could have been one factor prompting the sale at this time.
The Rubey name is a familiar one in Aspen, as downtown’s main transit station, Rubey Park, is built on land donated to the city in honor of the late Bill Rubey Jr., one of Marian’s children.
In the 2017 tax year, the assessed value on the Red Mountain property that sold this week was $907,050, up from $872,620 in 2016.
A profile for her Aspen Hall of Fame induction in 2009 noted that, “Marian now lives in the house that she has lived in for decades at the base of Red Mountain in Aspen. Long a hub of social activity in Aspen, as she herself puts it, ‘I love all my friends here and that makes it wonderful for me. I can’t imagine living anywhere else.’”
She was born in Washington D.C., on July 5, 1918, according to AHOF, and is still living, said Berg.
Mary Eshbaugh Hayes once wrote in her “Around Aspen” column:
“Marian is one of Aspen’s outstanding volunteers, having served on boards such as Aspen Santa Fe Ballet, Aspen Valley Hospital, Aspen Music Festival and School, Aspen Historical Society and the Aspen Valley Medical Foundation.” Her volunteerism also extended to the Aspen Episcopal Church and Aspen Valley Hospital, where she was a Blue Lady.
Following husband Bill Rubey’s death, Marian married Munro Lyeth, chairman of the board of the Denver’s Cherry Creek Mall, according to the AHOF biography. After his passing, she married Flavy Davis, a former Houston oilman and honorary counsel to Gambia.
Aspen Appraisal’s Gold cited another single lot sale that approached that of the Rubey sale, a parcel in Popish Valley near Wildcat Ranch that sold in 2007 for $26 million and is now listed at $17.5 million. But he added it wasn’t an apples-to-apples comparison because that was a Snowmass sale and the Red Mountain property is in Aspen.
read full article here: http://www.aspendailynews.com/section/home/175861
Other Red Mountain Sales this year:
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| Public Remarks: Located at the base of Red Mountain, this fashionable four bedroom, five and one half bath luxury home just underwent a complete remodel. Featuring open living area with vaulted ceilings, gas fireplace and spectacular views extending out to a spacious deck. State of the art kitchen with stainless steel appliances and adjoining dining area with seating for eight and a cozy wood-burning fireplace. Extensive master suite with office, sitting area, gas fireplace, walk-in closet and master bath with his and hers vanities, steam shower and soaking tub. Amazing extras include a media room, hot tub overlooking Hunter Creek, an expansive mud room with storage and a two car garage. | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Directions: North on Mill Street, turns into Red Mountain Road. Driveway is just past Lone Pine Road on the right. Follow driveway to the end. |
| Addendum: Wonderfully quiet location overlooking Hunter Creek within walking distance to town and on the Hunter Creek shuttle route. | |
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