This $80 Million Aspen, CO, Ski Mansion Is Too Big to Build Today

Ever wondered what nearly $80 million buys you in Aspen? Apparently, 17,000 square feet (1,579 square meters), nearly six acres, 11 fireplaces, and views of all four of Aspen’s ski areas.

The aptly named Summit House, perched high on Red Mountain above Aspen, Colorado, is currently on the market for a cool $79.5 million. The sprawling estate at 155 & 200 Sabin Drive covers 5.89 acres and includes a 16,961-square-foot main residence with seven bedrooms and 12 bathrooms. That’s roughly 10 times the size of the average American house — just sayin’.

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And if 17,000 square feet isn’t enough, there’s room to go bigger. The property comes with an additional building right of nearly 4,150 square feet, plus deck space, giving the next owner the opportunity to expand an already enormous mountain retreat. According to the Sotheby’s listing, a home of the existing size could not be replicated under current land-use codes, making the property a particularly unusual piece of Aspen real estate.

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Irrespective of its gargantuan size, the views are arguably the biggest selling point for skiers. Summit House sits high on Red Mountain with sweeping views across Aspen and all four of Aspen area’s ski mountains. That means Aspen Mountain, Aspen Highlands, Buttermilk, and Snowmass are all part of the panorama from the property. For winter sport lovers, it is difficult to imagine a better living room view.

The contemporary home was built in 2010 and comes with the sort of amenities expected at this price point, including a private elevator, pool, steam room, spa, security system, landscaped grounds, wraparound decks, and a three-car garage. There are also 11 fireplaces scattered throughout the residence, just in case all the empty spaces were giving you the chills.

The property comes fully furnished and includes seven full bathrooms and five half bathrooms. Yes, that is 12 bathrooms for seven bedrooms, just in case you and your other half (and all of your couple friends) prefer to not share a bathroom.

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The house is part of Red Mountain Ranch and sits behind a private gate at the end of Sabin Drive. The location puts it above Aspen while retaining access to the town and its famous restaurants, shops, and nightlife.

While the price tag is certainly not new territory for Aspen, the property has an interesting history and once carried a $65 million asking price that attracted national media attention. In late 2014 and through the spring and summer of 2015, Summit House was listed for $65 million, which drew attention and extensive media coverage from outlets including The New York Times, The Denver Post, Westword, and Denver’s Fox affiliate KDVR. At the time, the home was owned by Fort Worth, Texas, oilman Duer Wagner III, who had owned the property since 2004. Wagner completed construction in 2010, creating the sprawling mountain mansion in its current state as development rights allowed the home to exceed Pitkin County’s normal 5,750-square-foot limit by a considerable margin.

However, Wagner’s fortune was tied to the oil and gas industry just as crude prices began a dramatic collapse. His oil and gas company and 11 affiliates filed for Chapter 11 bankruptcy in May 2015, with the Red Mountain property used as collateral on a $120 million loan. In December 2015, the property changed hands for “just” $29.5 million — well below the asking prize, according to Pitkin County records. Nevertheless, at the time, it was the most expensive single-family home sale in Pitkin County that year.

Since the 2015 sale, the property has been back on the market several times. After previously being listed for $39.5 million in 2019 and $42 million in 2021, the property returned in June 2026 with a $79.5 million asking price.

At the current asking price, buyers are looking at roughly $4,687 per square foot, which is below the $5,000–$7,000+ per square foot range for high-end property in Aspen. With a median house price of $17.5 million in Aspen proper in the first half of 2026, the asking price almost feels reasonable given the size.

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The property incurs an annual property tax of $194,531 a year — probably 10 times what the average well-heeled NYC bankers will spend on their annual ski vacation. But then everything about this house is 10 times the average. There is also an annual HOA fee of approximately $11,043, although at this price point, that is literally peanuts.

If you’re looking for 10 times the space, privacy, elevation, and views, this house is for you — if you have 10 times the budget.