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Huge $16 Million Deal Goes Down for Telluride Condos

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]