Goldman CEO Solomon Pulls in $26.5 Million With Aspen Home Sale

(Bloomberg) -- David Solomon is beginning his third year as chief executive officer of Goldman Sachs Group Inc. with a bang.

Earlier this week, the 58-year-old DJ-cum-banker completed the sale of his 83-acre Aspen, Colo., estate after nearly three years of trying to find a buyer.

The Goldman chief sold the property by dividing it in two. The 13,000-square-foot house, on 45.6 acres, went for $19.5 million, and a vacant 38-acre lot fetched $7 million, netting a total of $26.5 million, according to the Multiple Listings Service.

That total is nearly $10 million below its initial asking price of $36 million in 2017, representing a more than 26% discount. Solomon, through a representative, declined to comment.

The sale comes on the heels of a three-month stretch of record-breaking sales in the Colorado resort town. In September, new signed contracts for homes from $10 million to $19.99 million were up 800% (nine were signed, compared to one the previous September), while two homes sold for more than $20 million, according to a new report by Douglas Elliman.

“Last year, there were no sales above $20 million,” says Jonathan Miller, the president and CEO of appraiser Miller Samuel Inc. “Now, we have 11 under contract in September above $10 million, which is highly unusual, and reflects part of this ‘co-primary’ phenomenon,” whereby Aspen is increasingly seen as a location to live, rather than simply vacation in, he explains.

“Aspen is perhaps seen as less seasonal now,” says Miller.

August was similarly booming (a 75% year-over-year increase for prices from $10 million to $20 million) and an unprecedented July saw a staggering 23 new contracts signed in that range, representing a 1,050% year-over-year increase.

Solomon’s seven-bedroom, nine-bathroom house was built in 2009, and includes a home theater with leopard-print carpet, a billiards room, a sauna, and a large open-concept kitchen and living room that’s ornamented by a massive chandelier, according to listing photos.

There’s also a formal dining room, a wood-paneled office, and multiple informal seating areas, according to the same listing. The manicured grounds include an outdoor pool and hot tub, terraced gardens, and views of Aspen’s upper valley.

The buyer put down 5% in earnest money, according to the MLS. Taxes cost $36,970 a year.

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