Attorneys and real-estate executives say that a mansion owned by Russian billionaire Roman Abramovich would be one of the first assets to be frozen by the U.S. government in response to the war in Ukraine.
There is a mega- home on 200 acres in Snowmass, Colorado, just outside of Aspen. The Russian billionaire, whose yacht fleet, soccer team and giant homes in London, France and St. Bart gave him a high profile in the West, bought the property in 2008 for $36.5 million. The property is likely to sell for over $50 million, making it the second most expensive home ever sold in the Aspen area.
It is an incredible property, and very rare, according to Riley Warwick, co-founder of Aspen-based brokerage team Saslove.
In 2008 he purchased a chalet-style home in Snowmass Village for $11.8 million, according to local property records. The property is next to the slopes and is likely to be a guest house or ski house.
The properties are prime targets for an asset freeze. Local property records show that the properties in Snowmass were purchased and remain in the name of the owner. The government can quickly seize assets that are under the official ownership of an individual, since they don't have to go through legal procedures to determine ownership.
Most U.S. real-estate owned by Russian billionaires is held through shell companies. In the last few years, many oligarchs have transferred their U.S. properties to relatives or associates. A home in Washington, D.C., and two townhouses in Manhattan have been transferred to relatives. Dasha Zhukova received ownership of three Manhattan townhouses from her ex- husband.
The European Union and the U.S. have sanctions against him but not in the UK or Canada.
A spokesman for Abramovich couldn't be reached for comment. Brad Schacht, the Denver attorney who represented Abramovich in his lawsuit against the cable company, didn't respond to a request for comment.
Aspen, a small town with outsized wealth and super-sized homes, has been the subject of a lot of speculation and intrigue because of the threat of a Justice Department seizure. There are homes owned by Wal-Mart heiress Ann Walton Kroenke, L Brands founder and food-and-beverage magnates Stuart and Linda Resnick, as well as Jeff Bezos and his parents. Kate Hudson and Kevin Hart are two of the regular Hollywood visitors.
The Pussycat Dolls were at a New Year's Eve party hosted by Abramovich. His name is listed on the side of the Chabad of Aspen as a donor. Property tax records show that he was recently charged $68,000 in property taxes for the big house and $29,000 for the smaller house.
Over the past decade, he has stayed out of the spotlight. Local business owners and residents say he's not often in their area. The property is surrounded by 200 acres at the end of a narrow mountain road and only one other home. Locals say that it would be easy for Abramovich to stay in his house without any public scrutiny.
He could easily slip in and out of that house.
The home was designed by New York-based Voorsanger Architects. It rises like a giant glass wedge above the village. Its steel folded-plate roof was designed for heavy snow loads and was 40 feet over the driveway.
The home has floor-to-ceiling windows with dramatic views of Capitol Peak, Mount Daly, and the Roaring Fork Valley. The east and west wings are separated by a wall. The home was renovated with millions of dollars worth of improvements.
The KleptoCapture Task Force would likely be able to freeze the property, but not take ownership, if the United States were to sanction Abramovich. Sanctions experts say that the only way the government can take title is if they can prove that they committed a crime.
Potential wealthy buyers are already circling. Aspen has a shortage of luxury homes for sale, like many ultra-rich towns after the Pandemic. The supply of single-family homes in Aspen is down from a year ago. The average sale price of a home in Aspen is $13 million.
A lot of my clients are asking about the status of the home.
According to Warwick, brokers are reaching out toAbramovich to get him to sell.
He said that he wasn't the easiest guy to get a hold of.
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