In one of the biggest Telluride Mountain Village deals to go down in recent years, 18 units of the Cassidy Ridge condominium project have been sold in bulk for $16 million. A Texas-based company, Gulfstream Management Partners, bought the two, three, and four-bedroom units from a Texas-based bank. The property has been struggling since it was completed in 2011, with only 2 of the 20 units selling. Despite financial setbacks, the contemporary, mountain-chic units are well-equipped and Curbed Ski recently highlighted a 3-bedroom Cassidy Ridge unit as a good value property in our "Million Dollar Market" series. Gulfstream Management plans to relaunch the property by adding a fitness center, hot tubs, fire pits, and revamp the ski access so residents will have direct access to the Sundance ski trail.
· What $1 Million Buys in Telluride: Hint, Big Views! [Curbed Ski]
· Mountain Village property sells for $16 million [Telluride News]