For sale: prince's palace, Aspen ZIP - $135 million

Saudi's mountaintop retreat is bigger than White House

Troy Hooper, Special to the News

Published July 12, 2006 at midnight

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ASPEN - Prince Bandar bin Sultan, the former Saudi Arabian ambassador to the United States, is selling his palatial home in Starwood Ranch for $135 million in what is likely the most expensive single-family residence listed in the nation.

The 56,000-square-foot palace is bigger than the White House and includes 15 bedrooms, 16 to 26 bathrooms - reports vary - an indoor swimming pool, an elevator and dumbwaiters on a 95-acre estate with horse stables, a tennis court, trails, ponds and other water features all overlooking Aspen.

Last summer, Bandar left his ambassador post when he was named the secretary general of the National Security Council for the kingdom of Saudi Arabia - a senior position that demands that he spend more time in his homeland.

"He has decided to sell some of his properties because his time will be limited as to what he can spend here," said Joshua Saslove, a friend of Bandar's and listing broker for the main residence on what the prince dubbed Hala Ranch.

Aspen proved to be a welcome retreat during Prince Bandar's 20-plus years of service as ambassador to the United States for the kingdom of Saudi Arabia. He welcomed diplomats, presidents and friends to his 200-acre mountaintop spread above town, and he recently began constructing a second 15,000-square-foot guesthouse on the property. The first guesthouse includes a replica of a British pub. Those properties are not for sale.

"He owns several properties up there, and it is undecided what properties, if any, he'll keep for the long term," said Saslove, adding that the foremost residence that is for sale also includes accommodations for workers and staff.

Through Saslove, the prince issued a statement about his decision to sell his main Aspen home: "I have always had fond memories of the time I have spent in Aspen with friends and family, but my new responsibilities at home in Saudi Arabia will prevent me from spending as much time as I would like in Aspen. I have therefore concluded that it would be better to allow some of the property to pass on into other hands. I intend to continue to visit Aspen from time to time and to enjoy its unique natural beauty and the generous welcome of the Aspen community."

The listing of Bandar's lavish estate is expected to become the most expensive on the market, surpassing the $125 million price tag that, as Forbes.com reports, Donald Trump slapped on an 80,000-square-foot mansion in Palm Beach, Fla.

"It is the largest single-family residential listing in the United States that we know of," said Saslove, who noted the prince is selling it "with regret."

Bandar's home will be advertised through Christie's Great Estates, an international auction house of which Saslove's firm is a regional affiliate.

"It's available to the whole world," Saslove said. "We're not limiting who it is available to. There are probably a considerable number of people who are capable of buying it.

"These types of people have the choice where to spend their time and they choose Aspen, Colorado. We know all the reasons, whether it is the Aspen Music Festival, or the Aspen Institute or the mountains and the beauty and the recreation, or the people and the restaurants."

Bandar purchased his property above Aspen in 1989 and built the main residence in 1991. The Pitkin County assessor's office notes that the palace has 70,071 square feet of total floor area when decks and other features are included. The assessor values the main residence at $55,953,500, but deputy assessor Larry Fite said that estimate is "probably conservative."

"All of our values are based on comparable sales. Well, what do you compare this to?" he asked.

Local officials who are contacted whenever Bandar comes to Aspen said he used to visit three times a year but that since Sept. 11, 2001, he has been here less.

"They ask us to do very little to almost nothing. But they always advise us of their comings and goings," said Pitkin County Sheriff Bob Braudis, noting that his office is typically provided with vehicle license plate numbers and a roster of the former British Special Air Servicemen who travel with Bandar for protection.

"He has more security than the Pitkin County Sheriff's Office," Braudis said.

Whoever buys Bandar's estate is unlikely to bring the same size entourage. But who might pony up $135 million has people in Aspen scratching their heads.

Inside and out: Hala Ranch

• 56,000 square feet

• 15 bedrooms

• 16-26 bathrooms (reports vary)

• Indoor swimming pool

• Elevator and dumbwaiters

• Stables

• Tennis courts, trails and ponds

• Accommodations for workers and staff

• 95 acres

• Listing price: $135 million

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