The luxury housing market in Aspen is booming right now, with wealthy buyers undeterred by rising mortgage rates and even offering deals. houses that aren’t even for sale. Couple that with restrictions on new construction and you’ve got yourself a frenzy of buyers who will do almost anything to buy a home in the glitzy mountain town.
For hungry buyers with deep pockets, there are three rare opportunities to own a chic chalet in the heart of the resort. White Elephant Resorts, which operates luxury hotels in Nantucket and Palm Beach, is moving west. The hotel group bought the former Aspen Hotel in Colorado late last year for $37.5 million and will build its first non-East Coast outpost there. The purchase also came with the rights to three 5,000 square foot residences soon to be listed in pre-construction at $25 million each. Construction of the three new homes will begin this fall and are expected to be completed by the end of 2024.
“We are absolutely honored and thrilled to bring the White Elephant brand to Aspen,” said Jordan Nemirow, Real Estate Advisor at Engel & Völkers Aspen. “The White Elephant hotels are institutions in Nantucket and Palm Beach. Three new chalets will accompany the grand entrance of the White Elephant Hotel in Aspen.
Nemirow says each home will have an open floor plan, an elevator, high-end finishes and incredible views of Aspen.
The homes are located just one block from the Jerome Hotel and within walking distance of downtown Aspen. Although the residences are not directly affiliated with the White Elephant Hotel, future residents will have access to all of the hotel’s amenities, which could include amenities similar to its other properties, such as a swimming pool, five-star restaurant and destination-specific activities. and programming. Residents will also have access to the underground garage, White Elephant Hotel Concierge, room service and restaurant signing privileges.
In addition to its namesake properties in Nantucket and Palm Beach, White Elephant Resorts also operates Nantucket-based lodges, including The Wauwinet, Jared Coffin House, and The Cottages at Nantucket Boat Basin. The former Aspen Hotel, which opened in 1985, had 45 rooms, but it’s unclear what White Elephant has in store for this Aspen property.
Aspen is an upscale year-round retreat with fabulous skiing in the winter and great outdoor adventure in the summer. There are also phenomenal luxury shops, fine restaurants and an array of festivals, concerts and activities.
Check out more photos of the property below: