Aspen, CO, Mansion Embroiled in Lawsuits between New York Investor and Lending Bank

Entrepreneur Daniel C. Burrell is suing First Western Bank of Denver for violating federal lending laws, interfering with an auction of his estate, and invading his privacy. Burrell alleges that the Denver-based bank divulged confidential information during an earnings call by referring to a client with liquidity problems who had several properties as collateral in Aspen, Nantucket, and Florida, making it possible to identify him as the person in question.

First Western Bank sued Burrell in Pitkin County as well as Eagle County in November and December 2023 for non-payment of loans. The bank has made four loans to Burrell between 2019 and 2022 and is trying to force a foreclosure on his estates to recover the loans.

Burrell’s attorneys further allege it was “improper” for First Western to give him business loans when it knew that most of the money would be spent on Burrell’s personal expenses, like building a house in Basalt, making divorce payments, and buying a yacht. The attorneys further allege that First Western Bank also didn’t allow him to refinance, didn’t consistently provide him with paperwork for the loans, and wrongly accepted his personal homes as collateral.

Burrell had put up two estates for auction, a residence at 768 Hunter Creek Road in Aspen and a 4,200-acre property at 6800 Upper Creek Rd, Carbondale, purchased for $19.5 million and $18.5 Million, respectively. The estates were supposed to be auctioned together with an asking price of $86.5 million by Sotheby’s Concierge Auction. Initial bidding ran from December 7-14, 2023, but has since been extended to February 15, 2024.

The Aspen property is a six-bedroom mansion across 8,420 square feet of internal living, boasting a spa, a home theater, a library, a games room with a bar, and an outdoor infinity pool with mountain views. The ranch has 10 bedrooms across several buildings, including multiple cabins, a bunkhouse, and caretaker’s quarters. There is also a remodeled barn with a theater, a game room, and a loft.

Suing banks that are trying to force foreclosures seems to be Burrell’s modus operandi, who is suing Century Bank in New Mexico for trespassing on his property and scaring off his caretaker. Burrell is also trying to sell a 27-bedroom ranch in Taos, New Mexico, with an asking price of $55 million. Paramount Realty USA has set a reserve bid price of $15 million for the property which according to reports is roughly the amount Burrel owes in loans he took out against the property from Century Bank.