Allen Media Group founder Byron Allen made a pretty impressive recent deal in the real estate realm, according to a report in The Wall Street Journal. The media mogul (and habitual luxury real estate collector) sold a mansion on Red Mountain in Aspen, Colorado, for more than double what he paid for it in 2020.
After purchasing the newly constructed, 8,700-square-foot home designed by architect David Johnston four years ago for $27 million, Allen reportedly found a buyer for the property for $60 million. The deal was off-market, and Allen is reported to have earned some of that profit margin by making "significant upgrades" to various components of the home, including the kitchen, the lighting, and the audiovisual entertainment systems.
A property like this, though, is priceless thanks to its beautiful location and views as much as any of its upgraded tech. Official marketing materials from a previous listing tout the property's "unparalleled amenities with a canvas of all four ski mountains as the backdrop," going on from there:
"Finishes include a Bulthaup kitchen, 20′ floor-to-ceiling windows, outdoor kitchen, heated pool, Waterworks fixtures, and snowmelt motor-court/decks. This home sets a new bar for luxury. Enhanced with state-of-the-art Crestron lighting, Colorado Buff Sandstone and neutral palettes to showcase art. Just steps to the Rio Grande trail, it's the perfect home and location for contemporary Aspen living."
Allen still owns what WSJ refers to as "trophy residences" throughout the country, including a $100 million mansion in Malibu. And the Aspen sale is part of a general boom in the luxury real estate market in the city, somewhat contrary to larger trends elsewhere, as sales above the $30 million mark have gone up significantly in frequency over the last four years.
As for Allen's former Aspen retreat, you can see it for yourself in the video below from the MountainHomePhoto YouTube channel:
