The well-known landmark in operation for 65 years sold for $165,000 per key
Denver, CO— April, 2017 — Antonoff & Co. Brokerage Inc. in partnership with Engel & Volkers Vail is pleased to announce the successful sale of The Holiday Chalet Victorian Bed & Breakfast located at 1820 E. Colfax Avenue, Denver CO. A fixture on East Colfax Ave, The Holiday Chalet, a former single-family mansion has operated as a hospitality use for 58+ years. The new owners plan to continue the hospitality use with a 21st Century orientation.
According to Broker Associate Jeffrey Hirschfeld of Antonoff & Co. Brokerage Inc. “The Holiday Chalet is a unique opportunity as the building housed 10 units, all with en-suite bathrooms and 9 with kitchenettes. We had interest from varied prospects interested in hospitality, redevelopment into micro units and potential live/work space. The continued evolution of East Colfax coupled with demand secured a strong sales price.”
The Holiday Chalet structure dates to 1896 originally built as a 3-story single-family residence aka The Henry Bohn Mansion. In the mid-1920’s the building was renovated to an apartment use and converted to a hotel operation in 1952.
“What makes the building so special is the design details” Said Joseph Sobin, CNE Broker Associate with Engel & Volkers Vail adding “Much of the original woodwork and stained glass has been retained and resorted including a wood framed original Tiffany designed window illuminating the northern exposure lobby and reception areas. Throughout the Holiday Chalet there are details and materials which indicate the original mansion was on par with the opulence and design of the mansions built along Denver’s Gold Coast at the turn of the 20th Century”.
The sale, which closed in less than 90 days on the market provides evidence of the continued resurgence of the E. Colfax corridor. The prime location within close proximity of the Denver CBD generated strong interest from a wide range of prospective buyers. The new owners plan to continue as a hospitality use with renovations and service oriented to the 21st century traveler. Yesteryear design coupled with tomorrow’s conveniences.
Full disclosure, Joseph Sobin, author of this blog and broker participated in the sale as co-listing broker.