Some Aspen developers are milking the result of their settlement with the town of Aspen that allowed them to build a penthouse 85% bigger than city zoning limits would otherwise permit, as evidenced by their outrageous pricing of this 4,638 square foot three-story penthouse with 4 bedrooms and 5 baths for $17,600,000. City zoning limits cap downtown residential units at 2,500 square feet, but developers won the right to build their oversize unit in exchange for deed restricting the building so that the commercial space can only be rented to an "affordable" restaurant.
The city denied the project at first due to a lack of affordable housing and were feeling the sting from the loss of long-time affordable eatery, Bad Billy's. The developers countered that the denial was "arbitrary," and won the deal that requires them to seek out an affordable eatery tenant "in good faith."
The penthouse is pretty pimped out. Hemlock fir flooring and hemlock paneling. An entrance hall/art gallery with concealed and heated ski storage. If you thought heated sidewalks were a bogus concession to wealthy wimps, then heated storage for skis might be the only feature to top it. The master bedroom is ensconced in its own floor with a master bathroom with Vals quartzite floors and wainscoting. A "generous" roof terrace is also replete with a gas fireplace and an eight-person hot tub.
· 508 East Cooper Avenue, Aspen, CO [Zillow]
· 'Aspen Penthouse' has record listing price of $17.6 million [Aspen Daily News]