One Steamboat Place gains momentum on sales of $1.5 million-plus ski base condos
September 7, 2012
Steamboat Springs — One Steamboat Place, the luxury condominium project at the base of Steamboat Ski Area, entered September with $46 million in sales in the preceding 12 months and $27 million year-to-date when pending contracts are taken into consideration.
Keith Marlow, corporate sales director for Timbers Resorts, said this week that existing owners at One Steamboat Place have been among the most effective means of persuading new buyers.
"We really owe gratitude to the local brokerage community for embracing One Steamboat Place and sending us their clients," Marlow said. "Our owners talk to guests who are spending several days with us and share why they chose to buy here" and what the experience is.
Timbers is the developer and manager of the project.
One Steamboat Place has 80 condominiums with a mix of whole ownership and fractional units. The project was completed in 2009.
Thus far in 2012, eight whole-ownership sales have involved the large, four-bedroom, four-bath or 4.5-bath homes that are the mainstay of the One Steamboat Place whole-ownership units, three of which sold in August. Closing prices range from a unit that sold for $2.73 million on March 27 to $1.74 million for a unit Aug. 9.
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The only three-bedroom condominium to sell this year went for $1.53 million in July. Marlow noted that most of the three-bedroom units in the project are devoted to Timbers' interval ownership, or vacation club, program.
During the development phase of the project, Timbers envisioned extended families gathering at One Steamboat Place and deliberately concentrated much of the whole-ownership inventory on the four-bedroom units, which are as large as nearly 3,300 square feet. Other condominium homes are about 2,700 square feet.
"We're really heavily weighted toward the four-bedrooms," Marlow said. "Steamboat is a family skier market, and we felt it was important to have larger residences for the family and friends types of vacations."
Rebecca Ferguson, of Steamboat Village Brokers, brought the buyer to a residence club sale in August. One-eighth shares have been selling for about $330,000 and one-twelfth shares have been selling for about $220,000.
Ferguson said her clients had been looking in the market for interval ownership for three years before deciding that One Steamboat Place offered the lifestyle they were seeking.
"They are skiers, and this project is one-of-a-kind matchless in Steamboat," Ferguson said. "The owners and developers are very business oriented and very professional. They're the ones who got this sale done. They made it very, very easy to close the deal."
To reach Tom Ross, call 970-871-4205 or email tross@SteamboatToday.com