The auction of a 18,722-square-foot ski home in Telluride is a month away, but with a minimum bid of just under $9 million – half its previous asking price – the home owned by a British businessman already is generating a lot of buzz.
“We think the Telluride property is the most compelling opportunity in the residential market today,” said Mark Troen, Chief Operating Officer of Sheldon Good & Co., the New York-based firm that is holding the auction. Sheldon Good also has an office in Denver.
“We’ve already received international, national and local interest and we expect more to come in the weeks leading up to the Sept. 21st auction,” Troen said.
The home completed in January on a 1.3-acre site with direct ski-in/ski-out access, was never occupied by businessman John Cariss, who is selling it as part of a recapitalization of his investment portfolio. In addition to Sheldon Good, the property is being auction in cooperation with Rick Fusting of Peaks Real Estate/Sotheby’s Realty International.
The property had been on the market earlier this year for $18.5 million. Carisshas invested $19 million in it, so he already was set to take a loss on it. The property will be sold furnished, subject to a list of exclusions.
The home, at 111 Autumn Lane, provides northern and western views of the San Juan Mountains. It is adjacent to Telluride Ski Resort’s green-rated Double Cabin ski run.
The three-level home includes an indoor freshwater pool with a resort-worthy spa, sports bar/lounge area with a large wine room with biometric security, professional family and staff kitchens, handcrafted library, eight fireplaces, a cinema room, wrap-around terraces, separate staff quarters and two, multi-bay garages.
The home was designed by architect Russell Gies. Steel, zinc, aluminum, hand-cut stone, wood and glass were incorporated into the home. In addition to the 18,722 square feet of space, it includes 5,861 square feet of terraces.
The main level features a soaring entrance lobby framed by a double-sided, black granite fireplace with floor-to-ceiling hand-cut limestone surround.
The lobby spills into the gathering room with oak-lined vaulted ceilings and floor-to-ceiling glass. A custom, free-form steel staircase encased by a 50-foot glass atrium anchors the room and leads to the lower level.
“The Autumn Lane home stands alone as a graceful, contemporary ski residence that is an architectural work-of-art offering the perfect marriage of form and function,” said John J. Cuticelli Jr., CEO of Sheldon Good.
“From elegant design components to sophisticated technology, the home’s composition, luxury amenities and finishes are uncommon in the Telluride market today,” he said. “Real estate auctions are a smart strategy to sell and acquire truly unique trophy homes. Both purchasers and sellers realize that trophy home auctions offer premium, tangible value.”
Interested buyers can preview the residence during pre-auction Open Houses taking place from 2-4 p.m. this Thursday, Friday, Saturday as well as on Aug. 30 and 31. In September, it can be viewed on the 1st, 2nd, 3rd, 6th, 8th, 13th, 14th, 15th and 20th.
The auction will take place at the property on Friday, Sept. 21. Registration begins at 11:00 am and the auction will begin promptly at noon. For detailed information about the auction, please call 800-516-0015 or visit www.AuctionTelluride.com for more information.
This is one of the most expensive homes that Sheldon Good has ever offered in Colorado.
“We sold the Tall Timber Estate in the foothills of Denver for $5 million and Red Stone Castle, a historic home built in 1897 for coal and steel magnate John Cleveland Osgood, for $6.5 million,” Troen said. “Sheldon Good & Co. also offered Wildcat Ridge in Snowmassa for $29.8 million.”
While the Wildcat Ridge Mansion, owned by Leon Hirsch, the founder of U.S. Surgical Corp., didn’t sell at the auction, it would have been a good investment at the auction price.
Hirsch later sold it for $36.375 million to Russian billionaire Roman Abramovich. It was listed by Maureen Stapleton of BJ Adams Real Estate when it sold in 2008.
< class="related_post_title">Related Posts:>