Huntsman’s Deer Valley compound: yours for $55 million
July 31, 2009
Jon Huntsman Sr., the industrialist and father of Gov. Jon Huntsman Jr., has put his Deer Valley compound on the market, asking $55 million for what is among the prime pieces of real estate in Deer Valley.
The listing agent, Deedee Corradini, said it has been on the market for approximately two months, but there had been little publicity when it was offered for sale. The compound covers nearly 64 acres of land at 5000 Royal St. There is a mansion on the property and there is development potential on other parts of the land.
"It’s one of a kind. Everybody says my property is one of a kind, but this truly is," Corradini said, calling the compound "truly the crown jewel of Deer Valley."
The compound covers three parcels, with there being development potential on each of them. They are:
a 40-acre piece of land with one house. The 20,000-square-foot house has 12 bedrooms, 16 bathrooms, a swimming pool, a fitness room, a game room, an artificial pond and an artificial waterfall. It was built in 1989. There is the potential to build another 14 houses on the 40 acres.
a 20-acre parcel where six or seven houses could be built.
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a 3.61-acre parcel where one house could be located.
Huntsman wants to sell the three parcels to one buyer, Corradini said. She describes options for a buyer that include continuing to use the house and land as a family compound, keeping the house and selling the other land to developers or building on the other land themselves.
"There are people who want this kind of property. We just have to find them," Corradini said, adding that there are "many potential buyers."
She did not predict what the bids will be, though. She said Deer Valley and Park City have become sought-after places for businesspeople and celebrities.
Corradini said the Huntsman family has not used the compound regularly in recent years, prompting Huntsman to put it on the market. She said Huntsman has been spending more time in Driggs, Idaho, a small city close to Jackson, Wyo., that is becoming popular with people buying vacation properties. Huntsman is a key figure in the Huntsman Springs real estate development there.
Lincoln Calder, the president of the Park City Board of Realtors, said there has been at least one top-dollar sale in the area this summer, with a place in The Colony that had been listed at $23.8 million selling. He is unaware of the sale price, though.
Calder did not discuss the prospects of the Huntsman compound selling, but he said the property it is a rarity in Park City.
"It’s a very unique piece of property and will take a very unique buyer with the ability to purchase it," Calder said.