Homes in Cherry Creek and Hilltop hit the market for $10 million this week.
They’re the highest-priced listings in Denver, although one of the homes was previously listed for even more.
The luxury housing market has heated up in Denver in recent years, but eight-figure home sales are still an extreme rarity. In 2021, only five homes sold for $10 million or more across the metro area.
460 Saint Paul St., Cherry Creek: $11 million
Sitting on one-third of an acre in Cherry Creek, this 11,885-square-foot mansion features 12-foot ceilings, heated floors and a two-story gym.
The home was originally designed by custom home architect Michael Knorr. In 2004 the sellers, Jerry and Barbara Glauser, bought the home at 460 Saint Paul St. for $4.2 million, according to property records. The next year, they purchased the lot next door for $850,000, records show, and added on to the home.
Jerry owned a handful of Glauser Mercedes-Benz dealerships, including one in Westminster, but he has since sold them. In 2004, New York Yankees player Alex Rodriguez brought on Glauser as a minority partner when he opened a Mercedes-Benz dealership near Houston.
The Glausers previously listed the five-bedroom, eight-bathroom home in 2019 for $14 million with Kentwood Real Estate DTC.
The couple’s new listing agent, Douglas Kerbs of LIV Sotheby’s International Realty, told BusinessDen the home was previously overpriced.
Kerbs said he based the new price tag on previous sales in the area. He cited the 7,350-square-foot home on a 0.14-acre lot at 395 Detroit St., which sold in August for $7.6 million, and the 2016 sale of 333 Milwaukee St. for $7 million.
“Specialty homes like this are harder to price accordingly because of their rarity and smaller buyer pool,” Kerbs said. “I wanted to figure out what the target audience is for this property and market it to individuals that fit this profile. There aren’t many homes with this location, size and capabilities in Cherry Creek.”
Kerbs added that the Glausers decided to sell as they now have three homes elsewhere.
The home is perfect for an athletic individual, Kerbs said, with a massage room, yoga room and state-of-the-art gym with a rotunda cool-down juice bar and glass dome. He said he can also imagine an empty-nester couple that enjoys the convenience of Cherry Creek or a family that wants to take advantage of the outdoor gardens with a Koi pond, the five alley parking spaces with a snow-melt system, plus a five-car, heated garage.
121 S. Dexter, Hilltop: $10 million
Two years after this 10,268-square-foot custom mansion was built, the owners are ready to sell.
The seven-bedroom, 10-bathroom home was completed by Nest Architecture in 2020 and designed in the shape of a hashtag, according to listing agent Peter Blank with milehimodern.
Blank introduced sellers Ashely and Matthew Vachon to their architect Scott Parker after they fell in love with Blank’s own modern minimalist ranch home just a block over at 121 S. Cherry St., which he sold for $4.5 million in May.
“But they needed something bigger,” Blank said.
Blank helped them secure the nearly 0.3-acre lot for $1 million in 2017, records show.
The home took nearly four years to build, according to Blank. It features 30-foot ceilings and a sunlit atrium with a bridge that connects the two distinct sectors of the home.
“The owners really loved ranch-style living on one floor, but they needed more space for their family. So, the objective was to create ranch-style living on one level, but going up, and that’s how the concrete was born to be 30-feet high,” Blank said.
The Vachons are moving out of state, according to Blank. Ashley was a gastroenterologist for South Denver Gastroenterology in Lone Tree, according to its website.
Blank said they reached the $10 million price point due to the cost of construction materials and the execution of the architecture and engineering.
“To be honest with you, as a broker, it’s an expensive house. But what I will say, it’s not overpriced,” Blank said. “It’s really easy to see when you’re in the property that it’s $1,000 per square foot to build this.”