Marabou Ranch in Steamboat Springs SOLD to Investors
$11,100,000. SF Marabou LLC, with possible ties to William Stolz and the Stolz Group out of Georgia, paid Elk River Partners the developers of Marabou Ranch in Steamboat Springs, over 11 million for their remaining lots in the Marabou Ranch – a Premiere Fly Fishing Ranch in Steamboat Springs, Colorado.
Marabou Ranch is comprised of 1,717 acres of picturesque ranch land and open space. Just 62 homesites will grace the Marabou Ranch property landscape. Marabou is primarily known for the prestigious trout fishing waters of the elk river. 18 remaining lot we sold for $11,100,000. That’s about $616,000 per lot. These lot were once price and sold for $1.2 to$ 2.5 million. I don’t expect the new prices to be under 1 million. But time will tell. These are amazing lot and the development is truly one of a kind.
Over the last few years, the Steamboat Springs real estate market has seen several larger developments struggle. And in a down economy, selling distressed properties is never easy. Like Marabou, Trailhead Lodge experiences financial troubles recently and ended up in foreclosure and selling at auction. But now they are doing much better. One Steamboat Place, at one time was in the same ‘Boat, but has become a success over time because of a restructuring of their finances. And just last week, the remaining land around Trailhead Lodge was sold to developers. Today, the future of Marabou Ranch has taken a turn for the better. At least things will change and now pricing might be restructures and the future.
Happy fishing Marabou!