Mike Shanahan’s Denver-area mansion sets record price after nearly 5 years on the market

Mike Shanahan’s Denver-area mansion sets record price after nearly 5 years on the market

Former Broncos coach Mike Shanahan ‘s 30,000-square-foot, six-bedroom, 13-bathroom Denver-area mansion has finally sold for $15.73 million after spending nearly five years on the market.

Originally listed for $22 million , the Cherry Hills Village home saw a number of price reductions and was once pulled off the market over the years it was listed, most recently settling at an asking price of $16.95 million in July 2021. Despite the markdowns, the house still sold for below list price on Oct. 22, according to public records. The final sale was for $15.725 million, records show.

That figure marks a record sale price for single-family homes in the 11-county area that is monitored by the Denver Metro Association of Realtors, according to the DMAR Market Trends Committee. The previous record sale for single-family homes in the area was $13.95 million, set in 2008. The Market Trends Committee notes that other homes may have changed hands at a higher price but it cannot verify sales outside of the multiple listing service records.

The property, once billed in marketing materials as “Denver’s most spectacular estate,” was represented by Kentwood Real Estate DTC’s Sandy Weigand and Chuck Gargotto .

While public records do not yet reflect who purchased the property, Weigand told the Wall Street Journal that the buyer is a longtime Colorado resident.

Located at 8 Cherry Hills Park Drive, the home boasts a regulation two-lane bowling alley, poker room, golf simulator and racquetball court. Men’s and women’s changing areas lead to the home’s 65-foot outdoor pool. Other features include a wine grotto and a wine storage room along with 11 fireplaces and a seven-car garage.

A 2,000-square-foot guest house adds another two bedrooms and four bathrooms to the property.

Following the purchase of the property for $4 million in 2006, the custom home was built on 3.88 acres by Mesa Properties. It was completed in 2008, the year that Shanahan was fired as the head coach of the Broncos following a string of lackluster seasons, according to previous Denver Business Journal reporting . Shanahan went on to coach the team now known as the Washington Football Team from 2010-13.

The hefty price tag on Shanahan’s home was preceded on the market by former Level 3 CEO James Crowe’s Cherry Hills Village mansion at 5000 E. Quincy Ave. Price history records indicate that home was first listed by Crowe for $22.9 million in 2009, $18.9 million in 2010 and $15.9 million in 2018. It eventually sold for $11.6 million in 2019, setting what was then a Denver-metro record price dating back to the 2008 high-water mark.

While Shanahan’s home was one of the priciest listings in the Denver area for a few years, similarly high listings have become more common following the pandemic-induced surge in homebuying and pricing.

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