From our colleague, Peter Grenney: This time, I wasn’t finding anything newsworthy until suddenly a text came through from a team member sharing the WSJ headline: “Patrick Dovigi Pays $59.75 Million for Jack Nicholson’s Former Aspen Home.”
This anecdote illustrates the ongoing narrative of the Aspen real estate market. It’s like a heart rate monitor - there are periods of quiet when you wonder if the market has a pulse. Then a discounted transaction comes along, making you question whether the market has turned. And then, seemingly out of nowhere, a mega deal posts, injecting adrenaline into the market.
It’s these mega deals that keep the Aspen market’s heartbeat strong. Patrick Dovigi has been spiking the market’s heart rate for several years. In 2024 alone, he’s been involved with 3 of the 7 highest transactions. After registering the highest sale in Aspen’s history selling 419 Willoughby Way for $108,000,000 in April, he has fully reinvested with purchases of $48,750,000 for 210 S West End St and $59,750,000 for 206 Lake Ave.
In Aspen’s market, where there have been fewer than 200 transactions in a year, it’s hard to overstate the impact of these mega deals pushing the ultra-luxury segment and providing a jolt to the broader market.
