Industry News
Billionaire Bill Koch has reduced the asking price for his ranch in Aspen, Colorado, to $99 million. The industrialist first put the estate on the market in January, with an asking price of $125 million, but has since slashed it by 21%. The 53-acre compound, dubbed Elk Mountain Lodge, is located at 125 Rooney Circle, Pitkin County, and features eight structures totaling 25,277 square feet. These include a 16,600-square-foot main lodge with seven bedrooms and eight bathrooms.
Koch first purchased the former dude ranch in 2007 for $26.5 million, and has since expanded and renovated it into a private retreat. He initially listed the Aspen property for sale in 2015 with an asking price of $100 million, before dropping the price to $80 million in 2016. The estate was taken off the market in 2017, and Koch sold 31 acres for $14.5 million in 2020, resulting in the current 53-acre offering. The property can be rented for $35,000 per night or $300,000 per week. With his children grown, Koch and his wife, Bridget Rooney Koch, decided to re-list the estate earlier this year.
The estate blends rustic charm with modern amenities, featuring towering ceilings, authentic timber beams, and panoramic views of the Elk Mountain Range. The property includes private ponds, hiking and cross-country ski trails, two hot tubs, and a 3,100-square-foot gym cabin. The property is located roughly 10 miles from downtown Aspen, a market where luxury real estate prices have surged. The median sale price for an Aspen single-family home in the first half of 2024 reached $13.23 million, more than double that of 2016, according to Sotheby’s International Realty.
The real estate market in Aspen remains hot, with a new price record set earlier in December when a monastery sold for a record $120 million to Palantir CEO Alex Karp. The previous record was set in 2023, when casino magnate Steve Wynn and financier Thomas Peterffy purchased an estate at the base of Red Mountain for $108 million. With ultra-luxury demand rising, Koch’s estate could be snapped up quickly now that it has dropped below the psychological $100-million barrier for some high-net-worth buyers.
- Related: Palantir CEO Alex Karp Shatters Aspen, CO, Price Record with $120 Million Monastery Ranch Purchase
Bill Koch is a member of the Koch Industries oil dynasty. He sold his stake in Koch Industries to his brothers Charles Koch and the late David Koch in 1983, before founding the Oxbow Group, an energy development company.
