March 28, 2018—The sale of the penthouse at The Lion, a recently launched luxury property designed in “alpine modern” style, set the price per square foot (PPSF) record for a real estate transaction in Lionshead Village when it closed on March 20, 2018. The transaction’s PPSF was $3,063.90.
“Previously the highest PPSF was $2,541 paid for a unit at The Arrabelle at Vail Square,” said Matt Fitzgerald, branch broker of the Slifer Smith & Frampton Real Estate (SSFRE) Lionshead office and The Lion’s listing broker. The sale of The Lion’s penthouse eclipsed that by 17 percent. It’s a testament to the desirability of The Lion, but also indicative of what’s happening in Vail and Lionshead right now.”
Sales at The Lion officially launched in the early part of the 2017-2018 ski season. Since then there have been 13 units sold or under contract for a total of more than $50 million in transactions closed or soon to be.
“The Lion is a great example of the overall market trend that we are seeing in Vail Village and Lionshead,” said John Pfeiffer, president and managing broker of SSFRE. “There is a tremendous demand for new construction and buyers are willing to pay top dollar for the right location and amenities.”
Available units at The Lion consist of one to five-bedroom residences that include amenities like oversized ski lockers with built-in, double boot driers; a huge outdoor salt-water hot tub; an indoor infinite current lap pool and salt-water hot tub; a fitness center with steam room and an entertainment room suitable for kids and adults. It also has a three-level, 167-spot parking garage.