Michael Bloomberg picks up $44M estate in Colorado

Michael Bloomberg’s got the mother of all homes to quarantine in.

The former presidential candidate quietly bought a 4,600-acre ranch in Colorado last month for $44.79 million, according to the Wall Street Journal. The estate, known as Westlands, was developed by KKR co-founder Henry Kravis over nearly three decades.

Kravis bought the ranch in 1991 for $5.5 million and constructed the main, 19,000-square-foot residence, which contains five bedrooms, an indoor hot tub, wine cellar and home theater. The estate also has an outdoor swimming pool, tennis court, helipad (with an accompanying hangar) and two guest cabins. There are also other buildings that house staff and horses. Kravis listed the sprawling estate last year for $46 million.

Bloomberg closed on the ranch in mid-April, six weeks after ending his pricey presidential campaign and roughly a month into many state’s directives for people to stay at home.

The transaction is also novel for the Colorado ranch market, with an oversupply of trophy properties and not much buyer interest. At least 20 sweeping, ultra luxury estates were on the market last year asking over $20 million, according to the Journal.

Bloomberg’s other properties include a townhouse on the Upper East Side and homes in London and Bermuda. [WSJ] — Erin Hudson

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