Aspen Square Condominium Hotel News

Posted on March 22, 2014 by Mary Kate

Winter has returned to Aspen Snowmass this weekend. I hiked Tiehack this morning with my wife and my four month old son River on my chest. It was snowing and blowing hard about halfway up, but it didn't wake him. About six inches of new snow fell this afternoon. Tomorrow is going to be a beautiful spring powder day. The Aspen Core Party featuring Beats Antique at the corner of Copper and Galena in front of Paradise Bakery was a lot of fun last night. The temperature was perfect. I love Spring Jam!<!--more-->
Aspen Square Hotel is full this weekend. The next week will be busy as spring break activity continues. With great winter conditions this season occupancy is up in Aspen and Snowmass compared to last season. I wanted to share a spring update of real estate activity at Aspen Square Condominium Hotel.
There are currently five fireside studio units for sale and one two bedroom unit at Aspen Square Hotel. Three north facing studio units are for sale and two south facing studios with Aspen Mountain views. Unit 415 is the first top floor, south facing studio listed for sale since 2007, priced at $1,190,000. There are only twelve top floor, south facing studio units in total. Unit 214 was listed a few weeks ago for $810,000. It's nicely remodeled, but an aggressive asking price in light of the sale of unit 215 two years ago for $650,000. Units 305 and 321 are listed for $699,000 and $715,000. Both are completely remodeled, third floor, north facing units with Red Mountain and down valley views. Unit 305 has a huge additional storage closet. Unit 422 is a top floor, north facing location with dated finishes including a murphy bed with oak built-ins priced at $749,000. The only available two bedroom listing is unit 119 which is a second floor south facing condo asking $1,450,000. I sold the last two bedroom Aspen Square condominium two years ago which traded for $1,212,000. The location and finishes were better than 119, but our market is also stronger and there are no other two bedroom active listings today.
Two studio units closed in 2013. Top floor, northeast corner unit 406 sold on July 17 for $750,000, and I sold unit 424 on July 29 for $650,000. The average sold price per square foot of all condominium sales the past five years is about $1,400. The average list price per square foot of the six active listings is $1,700. There have been eighteen downtown core Aspen condo sales in 2014 at an average sold price of $1,546,104 and an average sold price per square foot of $1,240.39.
Aspen Square's location, amenities and strong rental history are unbeatable. I am an expert on Aspen Square Hotel; I have sold more units there the past years than any other broker. Let me know if I can be of help. I hope to see you at the next Monday evening Aspen Square lobby reception or summertime courtyard get together. Aspen Mountain remains open until April 20. Come visit for some fun spring skiing and boarding. Enjoy!
Chris Klug

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