The media tycoon acquired the approximately 9,000-square-foot property four years ago for $27 million, and it sold for $60 million in an off-market transaction.
Media tycoon Byron Allen made more than twice as much money as he did four years earlier when he sold his modern Aspen, Colorado, property for $60 million.
Based on property records and information from someone with knowledge of the transaction, the house, situated on Aspen’s Red Mountain, was sold furnished in an off-market transaction. It was impossible to identify the buyer.
According to property records, the about 9,000 square foot stone mansion was built in 2015 and is situated on 0.87 acres. According to the individual with knowledge of the transaction, Allen significantly upgraded the kitchen, lighting, and audiovisual equipment of the house after purchasing it in 2020. According to the source, Allen sold the house because he wasn’t living there much.
According to a previous listing, the house has unrestricted views of the surrounding mountains and is located steps from the Roaring Fork River. According to the description, the house also features a second-floor terrace, spacious patios, walls of glass, and an outdoor pool.
Zillow states that Lex Tarumianz, a colleague of Aspen Snowmass Sotheby’s International Realty’s Mandy Welgos, represented the buyer in the transaction.
Originally a comedian, Allen is the founder and CEO of Allen Media Group, one of the biggest privately held media organizations in the nation. His company controls over 30 ABC, NBC, CBS, and Fox stations nationwide, the Weather Channel, several cable networks, and about 70 television shows.
Allen, a well-known collector of opulent residences, spent $100 million in 2022 purchasing a villa in Paradise Cove, Malibu. In addition, he has trophy homes in Beverly Hills, California, and Hawaii.
Aspen’s luxury real-estate market has experienced a meteoric rise since 2020, with a sharp rise in deals north of $30 million. In April, a mansion overlooking downtown Aspen sold for a record $108 million.