The $50 million Colorado mansion of tycoon Roman Abramovich may become a target of sanctions
A Rocky Mountain mansion owned by Russian magnate Roman Abramovich could be among the first to be frozen by the US government if he is arrested, according to real estate lawyers and executives. White sanctions due to the war in Ukraine.
Among Abramovich’s many global real estate titles is a 14,000-square-foot modern mega-home on 200 acres in Snowmass, Colorado, just outside of Aspen. The Russian billionaire, who has a yacht fleet, a soccer team, and giant homes in London, France and St. Local realtors say the property is likely to sell for more than $50 million at a steep price – making it the second most expensive home ever sold in the Aspen area.
“It is an incredible and very rare property,” said Riley Warwick, co-founder of Aspen-based brokerage group Saslove & Warwick at Douglas Elliman Real Estate. “A lot of my clients have asked about it.”
Abramovich also owns a 5,500-square-foot bungalow in Snowmass Village, which he bought in 2008 for $11.8 million, according to local property records. The property, just down the street from his larger home, could be used as a guesthouse, care home or ski home, local realtors say, as it sits next to the slopes. Mountain.
Experts say these estates are prime targets for asset freezes if Abramovich is punished. Unlike most properties owned by tycoons in the US, Snowmass properties were purchased and remain in Abramovich’s name, according to local real estate records. It may be easier and quicker for the government to seize property officially owned by a sanctioned individual, since they do not have to go through legal proceedings to determine ownership.
Most of the real estate in the US owned by Russian billionaires and oligarchs is held through anonymous companies or LLCs to conceal their true ownership. Many tycoons have also transferred their US assets in recent years to relatives or associates. Oleg Deripaska has transferred his US real estate, including two townhouses in Manhattan and a house in Washington, D.C., to relatives. Abramovich transferred ownership of three townhouses in Manhattan to ex-wife Dasha Zhukova in 2018.
Abramovich has been sanctioned in the UK and Canada but not in the European Union or the US. The White House is currently weighing whether to include Abramovich in the next round of sanctions, according to people familiar with the discussions.
A spokesman for Abramovich could not be reached for comment. A Denver attorney, Brad Schacht, who represented Abramovich in the lawsuit against Comcast The cable comes from a fiber optic project on the property, which did not respond to a request for comment.
The threat of a Justice Department forfeiture has fueled speculation and conspiracy in Aspen, a small town with wealth and mega-houses. Wal-Mart heiress Ann Walton Kroenke, founder of L Brands Leslie Wexner, food and beverage magnate, Stuart and Linda Resnick’s home there, along with Jeff Bezos’ Parents and media mogul Byron Allen. Goldie Hawn and Kurt Russell are longtime Aspenites, and the Kardashians, Kate Hudson and Kevin Hart are regulars to visit Hollywood.
Locals say Abramovich once had a higher status in town, hosting a New Year’s Eve party in 2008 featuring Pussycat Dolls. He has also contributed to local charity, with his name prominently listed as a donor on the Chabad of Aspen side. Local property tax records show he was recently charged $68,000 in property taxes for large homes and $29,000 for smaller properties.
Over the past decade, however, Abramovich has stayed out of the local limelight. Local business owners and residents say he rarely visits. This property is ideal for privacy, surrounded by 200 acres at the end of a narrow, secluded mountain road and home to only one other house. According to locals, Abramovich can easily drive 15 minutes from his private jet and stay in his home without public scrutiny.
Real estate agent Warwick said: “The house is very private and has been demolished. “He can easily go in and out without anyone noticing.”
The house is well known in architectural circles and was designed by New York-based Voorsanger Architects. Located nearly 1,000 feet above Snowmass Village, it rises like a giant wedge of glass along the Wildcat Ridge. Its steel folding roof, which looks like a giant wing, is designed to withstand heavy snow loads and cantilever 40 feet high in the driveway.
Inside, the home is clad in sleek black walnut with floor-to-ceiling windows offering dramatic views of Capitol Peak, Mount Daly, the Roaring Fork Valley, and Aspen. A 12 meter high mossy stone wall divides the east and west wings. Realtors say Abramovich has added multimillion-dollar improvements to the home, including underground space.
If Abramovich is punished, the US Department of Justice’s new KleptoCapture Task Force will likely freeze assets, but not seize or take possession of them. Punishment experts say the only way the government can take away property rights is if they can prove Abramovich committed a crime in the US.
Meanwhile, wealthy potential buyers are rotating. Like many post-pandemic super-rich towns, Aspen lacks luxury homes for sale, with more buyers than sellers. The supply of single-family homes in Aspen is down 60% from a year ago, according to Douglas Elliman Real Estate. The median sale price of a home in Aspen is currently a record $13 million.
“A lot of my clients are asking how the house is and if it is frozen,” says Warwick. “No information.”
Warwick said brokers aspiring to the listing may also have contacted Abramovich to sell him.
“He’s not someone that’s easy to grasp right now,” he said. “But I wouldn’t be surprised if more brokers are trying.”
