The ranch, built by the prince about 20 years ago, is Aspen's largest residential property and includes a 55,000- square-foot (5,000-square-meter) main house, according to Tim Estin, a broker with Coldwell Banker Mason Morse Real Estate in Aspen. It was initially marketed for $135 million, making it the most expensive U.S. home listing, the Aspen Times said in 2006.
"Hala Ranch is one of the most beautiful properties in Aspen," Paulson & Co., the hedge-fund manager's investment firm, said in a statement. "The purchase price represents a substantial discount to the asking price."
Paulson also bought Bear Cabin, located on a separate 38- acre parcel that was never previously offered for sale, according to the statement.
The statement didn't disclose the exact price. Land records in Pitkin County reflect two sales totaling $49 million to an entity called Starwood Mountain Ranch LLC.
The dollar volume of Aspen home sales declined 27 percent this year through May from the same period in 2011, to $277 million, according to Estin, publisher of the Estin Report, a monthly analysis of the Aspen home market. He wasn't involved in the Paulson transactions.
The dollar volume fell as fewer homes priced above $10 million changed hands, Estin said. The tally doesn't include Paulson's purchase, which was completed in June, according to property records. The deals for Hala Ranch and another $30 million home that went into contract last week will bring sales volume in line with a year ago, Estin said.
Paulson, directly or through his funds, owns real estate across the U.S. including properties in Colorado, Arizona, California, Nevada, Florida and Hawaii, according to the statement.