A family ponied up nearly $8 million to essentially become the rock of Castle Rock.
The anonymous buyer purchased a 132-acre ranch in the Colorado community from former TW Telecom executive John Blount for $7.8 million, the Denver Post reported. Blount purchased the property in the town — 30 miles from Denver — for $3.3 million in 2007, seven years before Level 3 Communications acquired TW Telecom for $5.7 billion.
Blount listed the property for $8.5 million in June. The buyer went into contract to purchase the home in a matter of days. The sale closed at the end of August at a record amount for Castle Rock.
A fascinating feature for such a large ranch is how it’s situated in the center of Castle Rock. That wasn’t the case when Blount purchased it, but today, it takes on the status of an oasis in the middle of a thriving community, complete with thousands of pine trees and an Aspen grove.
The ranch has a 10,000-square-foot mansion, breaking down the deal to $748 per square foot. The home has six bedrooms and eight bathrooms, while the property also has a guest house, pool, tennis court, hot tub and skeet shooting range.
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LIV Sotheby’s International Realty’s Elaine Stucy held the listing. Compass’ Josh O’Connell represented the buyers, a family that plans to live there while stabling their horses and grazing a herd of cattle.
Since the start of the pandemic, ranches have been enticing America’s wealthiest homebuyers, beckoning those interested in sprawling properties and a more rustic lifestyle. Ranch brokerage Hall and Hall closed $1 billion in sales in 2020, then proceeded to more than double that the following year.
This month, a 600-acre ranch in south Texas was listed for $2.4 million, the first time the property has hit the market since the late 19th century. It’s been owned by the same family since 1840, tracing its lineage back to the Texas Revolution.
— Holden Walter-Warner