Montana Ranch Hits the Market for $26.5 Million
May 14, 2013 - Montana
Television producer Burt Sugarman, who produced "The Richard Pryor Show," and his wife, television personality and former "Entertainment Tonight" host Mary Hart, have put their 160-acre ranch in Big Sky, Montana, on the market for $26.5 million.
The ranch sits inside the Yellowstone Club, a 13,600-acre private golf and ski community that lies about 20 miles north of Yellowstone National Park.
Possibly the world's only members-only ski resort, with 15 lifts and three lodges, the Club has roughly 400 members and in the past has counted among them NBCUniversal Chief Executive Steve Burke, former Los Angeles Dodgers owner Frank McCourt, Starwood Capital Group Chief Executive Barry Sternlicht and Bill Gates.
The Yellowstone Club was started in the late 1990s by timber baron Tim Blixseth and his wife, Edra. They divorced, and the club went bankrupt in 2008. Sam Byrne's buyout firm, CrossHarbor Capital Partners, purchased the resort out of bankruptcy.
Since taking over, Mr. Byrne has made improvements and added new members, including Justin Timberlake and Google Chairman Eric Schmidt.
Called Elk Horn Ranch, Mr. Sugarman and Ms. Hart's property has a 7,000-square-foot main home with six bedrooms and seven bathrooms.
There's a detached garage with a one-bedroom apartment in addition to a hand-hewn one-room log cabin. There's also a four-stall horse barn with a fully decorated rec room and kitchen upstairs.
There are only six parcels of this size in the Yellowstone Club. And the placement of Elk Horn Ranch within the Yellowstone Club is also unique, says listing broker Tim Murphy of Hall & Hall, because it is one of the few parcels in community that has direct access to the national forest, which leads into Yellowstone National Park.
Mr. Murphy says that Mr. Sugarman and Ms. Hart are selling the ranch because they already own another property within the Yellowstone Club.
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