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The actor quietly shopped around his 320-acre Telluride estate last year for $59 million, but now is testing the market at $39.5 million.
Tom Cruise is on a mission: The A-lister wants to sell his massive Telluride ranch. The Colorado spread is back on the market for $39.5 million. The star of “Mission Impossible” had quietly shopped the property in 2014, at the much higher price point of $59 million. Now it’s officially on the market for the first time. Cruise, 58, spent years amassing the land. He then had a 10,000-square-foot, seven-bedroom, nine-bathroom home built on the property back in 1994. It’s reported that he no longer uses the ranch and has decided to pass this premium parcel along to its next steward. The 320-acre mountain retreat was the location for a Vanity Fair magazine profile of the actor in 2006, featuring his daughter, Suri, with his wife at the time, Katie Holmes.
The movie star welcomed Oprah Winfrey to his couch in Colorado for an interview in 2008. The action star’s home is “built for privacy,” as the listing notes, and offers “unspoiled natural beauty.” Those natural surroundings include mountain vistas and plentiful outdoor pursuits, from skiing, snowmobiling, and snowshoeing in the winter, to golf, horseback riding, hiking, and biking, during warmer months. The interior boasts a top-of-the-line chef’s kitchen, a fitness center, a rec room, a den, an office suite, two fireplaces, multiple terraces, and outdoor space. In addition to the main home, which is clad in bleached cedar timbers and native stone, there’s an equally impressive three-bedroom guest lodge, set amongst aspen groves.
Enveloped by mountains, the property includes extensive forested trails for exploring the natural surroundings, yet is only minutes to Telluride. Cruise, who knows how to entertain an audiences at the box office, also seems to have mastered the art of relaxation with this spread. Known for performing his own stunts, the actor can also claim some action-packed real estate deals. In 2016, he sold the Beverly Hills compound he’d shared with Holmes for $40 million. He pocketed a hefty profit, having bought the posh place in 2007 for $30.5 million. The year before, he had handed off his Hollywood Hills compound to the actress Eva Longoria for $11.4 million.
The megawatt star is known for his action-packed blockbusters, such as the “Mission: Impossible” franchise, “Top Gun,” and “Minority Report.” He’s currently filming Nos. 7 and 8 in the “Mission: Impossible” series. The long-awaited sequel “Top Gun: Maverick” is due out in July.
“The Report” identifies top 10 power and emerging luxury markets as luxury home buying trends and lifestyle preferences shift
Madison, N.J. – Feb. 24, 2021 (PRNewswire) –Today, Coldwell Banker Real Estate LLC, a Realogy (NYSE: RLGY) brand, and the Coldwell Banker Global Luxury® program released “The Report: 2021 Global Luxury Market Insights,” an in-depth analysis of emerging luxury markets and buyers. Included in the report are noteworthy trends shaped by an extraordinary year full of uncertainty and change, as well as top performing luxury markets of 2020 and those to watch in 2021.
This year, “The Report” combined sales data analysis with a record number of in-depth interviews from Coldwell Banker® Global Luxury® Property Specialists providing on-the-ground perspectives from diverse real estate markets. In addition to these interviews, Coldwell Banker Global Luxury also selected 40 of these Property Specialists for a first-of-its-kind survey to better understand the shifts in affluent property-buying trends and what lies ahead for luxury real estate.
New definitions of luxury — like the intangibles of family, health, space and security — spurred new affluent living trends in 2020 as buyers realigned priorities by seeking out properties with access to the outdoors, privacy and more space. Demand for mega mansions, estates and other luxury compounds surged, with 55% of Luxury Property Specialists surveyed noted that more square footage was the number one amenity that flipped in demand from 2019 to 2020. A new affluent demographic, known as Trailblazers, drove shifting buying trends as they migrated away from cities in favor of small, hidden gem towns, the suburbs, and second home destinations.
As wealthy homebuyers embraced new lifestyles, new trends prevailed. The top preferences expected to have staying power over the next 5 years include: the home office (27.5%), demand for a second home (22.5%), and the desire for single-family detached homes (22.5%).
In 2020, there was a dramatic change in many luxury markets that had been buyer’s or balanced markets in 2019. Escalating demand now pushed these markets into seller market territory, which is only anticipated to continue into 2021. To determine the Top 10 “Power Markets” of 2020, the Coldwell Banker® brand collaborated with The Institute for Luxury Home Marketing to analyze the markets with at least an average of 50 sales per month and the highest sales ratio percentages. On reviewing the Top 10, four new hotspots came into focus for a variety of reasons:
“The Report” also identified four key categories of emerging markets across the luxury home sector offering a range of lifestyle amenities, cultural experiences, and educational opportunities. The unexpected rise of these locations underscores the unforeseen dynamics at play during 2020 as the pandemic impacted many buyers’ decisions.
Secondary Markets on the Rise
Markets Exceeding Expectations
New Discoveries
Ready for Discovery
About The Report
Designed to be a definitive guide for international high-end property buying and selling, The Report adds insider intelligence to strong industry research by combining anecdotal insights from local market professionals affiliated with the Coldwell Banker® brand, as well as The Institute for Luxury Home Marketing, Wealth-X, and other leading luxury insiders.
SOURCE Coldwell Banker Global Luxury
