Engel & Völkers has closed an exceptional deal in the US in the state of Utah: Russell Weiner, founder of Rockstar Energy Drink, acquired the more than 1,600 square meters large estate known as “Monitor’s Rest” in Park City for 39.6 million US dollars (more than 37 million euros). This makes it the most expensive residential property ever sold in Utah and breaks the record set in 2019, which was a 32.5 million US dollar estate (more than 30 million euros) also sold by Engel & Völkers. Paul Benson, license partner at Engel & Völkers Park City, represented both Russell Weiner and the seller, the development company Iluminus Group, in the deal. “It is not only the sales price that is exceptional here. The property itself is also truly outstanding. The fact that such a magnificent home was created here and brokered so quickly illustrates the immense appeal of Utah, and Park City in particular,” says Paul Benson.
In March of this year, while work on the interior of the property was being finalized, Paul Benson posted an update on the status of the project on the social media platform Instagram (instagram.com/paulbensonev). It quickly became viral and was shared and talked about within one to two days of posting the new photos. “Interested buyers got to know about the property this way and contacted me. It proves that using social media works, even when selling real estate at the absolute top end of the market,” says Paul Benson, who, besides Park City, is the license partner of another 37 Engel & Völkers Shops in Utah, California, Nevada, Arizona, Oregon and Idaho.
The property is situated on a five acres parcel within the highly secured and gated community of “The Colony at White Pine Canyon”. It is located within one of the largest ski resorts in the US, the Park City Mountain Resort, boasting direct access to world-class ski slopes. In addition to ski-in and ski-out, every other conceivable comfort can be found at “Monitor’s Rest” as well. In addition to an indoor and outdoor pool, a private spa area, a Himalayan salt room, and indoor climbing wall, there is also a bowling alley, a golf simulator, and a movie theater. One particularly special highlight is the panorama tower, which offers 360-degree views looking out over the tree line to the unique mountain scenery all around. For those with sophisticated culinary tastes, there is a kitchen fitted with professional gourmet appliances, complete with a stone oven for authentic Italian pizza. Each of the six bedrooms features its own terrace complete with firepits. Modern home technology filters both the water and the air, as well as adjusting the lighting to the natural solar cycle.
As with many successful entrepreneurs, Russell Weiner’s journey with entrepreneurship started early. At the age of eight, Weiner started a yard service business in Northern California where he grew up. After a run for the California State Assembly in 1998, he went on to work for Skyy Vodka where he presented his idea for a new energy drink, but without success. Committed to his idea, he took out a mortgage of 50,000 US dollars (approx. 47,000 euros) on his condo in Sausalito, California. He used the money to fund his own energy drink company Rockstar in 2001. After many successful years in business, in April 2020 he sold the company to PepsiCo. for 3.85 billion US dollars (about 3.5 billion euros). According to Forbes, Russell Weiner’s net worth is around 4.1 billion US dollars (around 3.8 billion euros).