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Buyer For John Galardi's Aspen Ranch Backs Out, Swallows $250K

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The "area investor" we talked about two weeks ago who bought Meanwhile Ranch, the former 56-acre Aspen ranch of hot dog mogul John Galardi, has apparently backed out on the incredible deal they got when they bought the ranch at auction for $11.25 million, which was even farther away from the home's pre-auction list price range of $20-35 million than the $12.4 mil we thought they bought it for.

Galardi's ex-wife and the current owner of Meanwhile, Cindy Culpepper, is now bummed that not only did the ranch sell for a shit price, but then the buyer backed out. The Aspen Business Journal reported that there was a prolonged pause during the bidding during which auction representatives tried to find a buyer who would raise the bid, no doubt under some pressure from Ms. Culpepper. They were unsuccessful, and no doubt exposed to another series of feather-ruffling when their buyer backed out and swallowed a $250,000 deposit.

We also learned that Meanwhile is part of the $80 million in listings Aspen broker Gary Feldman is suing former partner Joshua Saslove over. Maybe he's glad the loss is painted on someone else's hands?

· Deal for Meanwhile Ranch falls apart at eleventh hour [Aspen Business Journal]
· Meanwhile Ranch archives [Curbed Ski]