$150 Million Old Snowmass Monastery deal falls through; Seller marches on

Rather than the Snowmass Monastery’s listing status updating from “Pending” to “Closed” in the MLS on the listing’s proposed closing date of June 9th, the status instead turned “Active” with a “Back on Market” notice sent to all members of the Aspen/Glenwood MLS. Nearly a year after the monks of the St. Benedict’s Monastery in Old Snowmass announced its impending closure, the property was listed for sale, offered at $150 million. 11 Months on the market later, they thought they had met their suitor, and the property was under contract with an undisclosed buyer and intended use for the property.

This property isn’t your average large acreage sale in the Roaring Fork Valley (hence the price tag). This land is just over 3,700 acres, about a third of which is subleased and irrigated with its historic water rights for cattle grazing and hay operation to maintain agricultural status amid its R-30 zoning, designed to preserve agricultural operations and environmental resources while permitting carefully sited low-density development. At that size, it’s the largest contiguous, undeveloped property in the area and is surrounded by 7,736 acres protected by conservation easements and other land protection measures.

When it was listed for sale back in April of 2024, the Seller envisioned the perfect buyer to be one who appreciates conservation, will continue working the land to maintain an agricultural presence, and understands Pitkin County’s Growth Management Quota System (GMQS) and stringent land use process.

 The price makes purchase unattainable for many conservationists and although this Buyer terminated the contract, they are not the only potential buyer interested in the property, even with the prohibitive price tag. Pitkin County’s community development director, Suzanne Wolff, fielded inquiries from a handful of interested parties and the listing agents met with a buyer with serious interest in the Fall of 2024. Sellers are therefore moving forward with the sale at its original list price of $150 million.