Large estate near Edwards sells for $40 million
The new owners of the 457-acre Casteel Creek property may have gotten a bargain for the $40 million purchase price.
The property — which includes a home, an entertainment venue, a trails network and more — was originally listed in 2019 for $78 million. Listing brokers Malia Cox Nobrega and Barbara Scrivens of LIV Sotheby’s International Realty originally listed 250 acres for $42 million, but the recently closed transaction included the entire property for $40 million.
457: Acres on the Casteel Creek parcel.
10,000 pounds: Combined weight of the two entry doors on the main house.
30,350: Square footage of the main house.
28,000: Square feet in the property’s “entertainment venue.”
The current ownership is Baseline Property Group, led by Brock Nicholas and Stephen Lobell.
Baseline will hold portions of the estate for their personal and business use, as well as high-end rentals through Villatel.
But the new owners have also decided to sell eight parcels on the market. Those parcels range from 83 acres to just less than 17 acres. Nobrega said the parcels will sell for between $5.5 million and $7 million.
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The parcels aren’t yet on the market. Scrivens said some final work is still required to finalize homeowner association and other documents. But, she added, there’s plenty of buzz about the parcels coming to market.
All kinds of amenities
All those buyers will be able to share in the property’s extensive trail system, and will have use of Coyote Lodge, a 28,000 square-foot entertainment and events center.
Scrivens said the main house and entertainment center were built to the previous owner’s dream house wish list.
The indoor climbing wall soars 60 feet to the top of the events building. Scrivens said that structure has elements that mimic some of North America’s best-known climbing routes. The indoor baseball field is modeled after Boston’s Fenway Park.
There’s also a pond stocked with trout, as well as indoor and outdoor shooting ranges. The trails are groomed in the winter and maintained in the summer.
There’s also a full-sized, artificial-turf soccer field and a Japanese Teppanyaki-style grilling area.
The main house is more than 30,000 square feet, with eight bedrooms and 16 bathrooms. The home has its own fitness center, and a bar modeled after the Silver Dollar Saloon in Jackson, Wyoming.
Buyers of the smaller parcels will have access to the entertainment venue and the rest of the property.
Owners of those parcels “will be able to live like the whole property is yours,” Nobrega said.
Estates like Casteel Creek are rare anywhere, but particularly in the Vail Valley. They’re particularly rare in the high Alpine environment at the top of East Lake Creek.
Plenty of interest
The estate took perhaps 18 months to get to closing, Scrivens said. But it wasn’t for lack of interest.
“Every time after I’d shown it, I thought I’d sold it,” Scrivens said. But prospective buyers gave a little more thought to the sheer magnitude of Casteel Creek, and all but the Baseline group decided to look elsewhere.
It’s also hard to find an estate the size of Casteel Creek that’s so handy to the outside world.
Nobrega noted that Edwards’ Juniper Restaurant is a 14-minute drive. That puts Vail, Beaver Creek and the Vail Valley Jet Center 40 minutes or less from the main house.
But the property is also adjacent to the White River National Forest. Nobrega noted that the old mining town of Fulford — up Yeoman Creek south of Eagle — is within hiking distance.
The property itself was built over a number of years with “off-market” real estate deals and a land exchange with the U.S. Forest Service that added 118 acres to the estate.
“I’ve never seen anything like it,” Nobrega said.
Beyond the setting, which pictures can’t really capture, the property is the result of the previous owner’s dreams.
“This was made for someone who wanted to live a life of perpetual fun,” Nobrega said.