Only in Aspen: $3,500 Per Square Feet; $1-million Vacation

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Only in Aspen: $3,500 Per Square Feet; $1-million Vacation

By
November 14, 2005

Once upon a time $1-million could buy an entire house in Aspen. Now, it will get you a six-week ski-in, ski-out fractional, or a gimmick-laden vacation at the Hotel Jerome.

Representatives of the three partnerships that joined forces to create the new 26-unit Residences at The Little Nell were on hand for a reception in New York last week. They included longtime Aspenites John G. Sarpa, a well-known builder who is part of Centurion Partners, and Brooke Peterson, a lawyer who is a manager of Aspen Blue Sky Holdings.

The Residences, promised for completion by Chistmas 2007, are being built on the site of the old Tippler restaurant, bar and lodge. They are 3- and 4-bedroom units plus eight "luxury lodging rooms." Once finished they and a restaurant within the building will be managed by the Little Nell Hotel, the Aspen Skiing Company's property on the other side of the gondola.

The units are selling for $1.3-million (3-BR) and $1.75-million (4-BR) per one-eighth share. "As far as we know they are the most expensive fractionals in the country, maybe the world" based on square footage, Sarpa said proudly.

The 4-bedroom units are almost sold out, he added.

Don't want a fractional but do want to brag about spending a million bucks in Aspen? The Hotel Jerome is offering a 10-night package this winter for $1-million.

The deal includes unlimited ski passes plus a chauffeur-driven vehicle - a $375,000 Maybach - that the buyer gets to keep. At that price, we would hope so.

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