Monday, July 02, 2007

ONLY BILLIONAIRES NEED APPLY...

With 56,000 square feet, 95 acres, and a price tag of $135 million, Hala Ranch in Aspen, Colorado is the most expensive single-family residential property in the nation on the market, according to Kirk Johnson of the New York Times.

The property was built for the family of Prince Bandar bin Sultan who served as the ambassador to the United States for Saudi Arabia until 2005. Prince Bandar now works for the Saudi National Security Council and is selling the property as he will not be spending as much time in the States.

"Mere wealth" cannot afford the luxuries of Hala (the private barbershop and beauty salon just off the master suite, for example); Joshua Saslove, the real estate broker who's listing the property, will only consider billionaires. Since there are only 946 billionaires out there, according to Forbes, the pickings are rather slim.

But such is the story of Aspen's west side, where "an ordinary lot, 60 feet by 100 feet, costs $3.5 million."

To read the article in its entirety, go to "A $135 Million Home, but if You Have to Ask ..."

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