Aspen home sells for $108 million

Aspen Snowmass is a winter resort complex located in Pitkin County in western Colorado, United States. 

Colorado has recently made real estate history with a record-breaking single-family home sale. The property at 419 Willoughby Way on Aspen’s Red Mountain closed for an astounding $108 million, making it one of the few homes in the United States to surpass the $100 million mark.

The sale has drawn attention to Aspen as a special global community. Riley Warwick, the listing agent from the Saslove & Warwick Team at Douglas Elliman Real Estate, emphasized the significance of this transaction. The buyers, Steve Wynn (founder of the Bellagio and Wynn resort casinos) and Thomas Peterffy (a pioneer in computerized and discount stock trading), teamed up to acquire the property for nearly $110 million, as reported by the Wall Street Journal.

The seller, Patrick Dovigi, is the founder and CEO of Green for Life Environmental and a former professional hockey player in Canada. Dovigi had purchased the home in 2021 for $72.5 million from Lewis Sanders, the former chairman and CEO of Sanford C. Bernstein.

Aspen Title & Escrow, which handled the title and escrow work for the purchase, noted that only a select number of markets have achieved such high-priced sales. In fact, the U.S. witnessed its first $100 million home sale two decades ago, and since then, approximately two dozen sales (excluding Monday’s purchase) have reached this milestone¹. Most of these ultra-luxury home sales have occurred in Manhattan, Miami, Palm Beach, Los Angeles, Malibu, and Hawaii. Now, Aspen joins this exclusive list.

The 22,405-square-foot home at 419 Willoughby Way boasts 11 bedrooms, 17 bathrooms, a guest house, a large garage, and a heated outdoor pool. Its prime location at the base of Red Mountain overlooking Aspen adds to its allure. Additionally, Pitkin County’s regulations cap future home construction at a maximum of 9,250 square feet, contributing to the property’s scarcity and higher price.

Interestingly, the closing process for this high-end home was conducted remotely through attorneys, a common practice for such prestigious transactions. The security measures were especially tight due to the deal’s size and significance¹. Patrick Dovigi’s impressive 50% return on investment in just three years can be attributed to the property’s remodeling efforts by him and his wife, who is an interior designer.

In summary, Colorado’s $108 million home sale in Aspen sets a new benchmark for luxury real estate in the state, and it reflects the global appeal of this remarkable community