Taos ranch goes up for auction, minimum bid $19M - Albuquerque Journal

Taos ranch goes up for auction, minimum bid $19M

1308920
The 190-acre Blackstone Ranch in Taos is going up for auction with a minimum bid of 19 million. (COURTESY PARAMOUNT REALTY USA)

SANTA FE — A 190-acre ranch just outside Taos is going up for auction, with a minimum bid of $19 million.

The minimum is a 65 percent drop from the original asking price of $55 million for Blackstone Ranch.

Ranch owner Samuel “Pat” Black, a Pennsylvania-based venture capitalist and philanthropist with ties to the biodiesel industry, originally put the 15-building property on the market last summer, according to Misha Haghani of New York-based auction house Paramount Realty USA.

Haghani said Black built the ranch in 2004 and put $45 million into acquiring and developing the property.

The auction’s bidding deadline is Dec. 6 at 2 p.m. To participate, potential buyers must buy due diligence materials and submit a $500,000 deposit.

Haghani said Paramount Realty stepped in to help market the ranch after it didn’t sell at the original asking price. The realty company had a role in the recent sale of President Donald Trump’s childhood home.

Haghani said determining value is difficult with a “unique” property like Blackstone Ranch, with no comparable properties nearby to help determine an asking price. He cited Blackstone’s 15 fairly new structures. These include the 27,000-square-foot main house — with a dining hall that can fit 150 people — a nearly 10,000-square-foot guest house, six barns, a smaller guest house, a greenhouse, and more. The property has 30 bedrooms in all.

Haghani said all this makes the property a good candidate for an auction, which allows the buyers to “tell you what it’s worth.”

“The bottom line is it is worth whatever someone is willing to pay,” he said.

He said he expects potential buyers in two categories: the first are wealthy individuals who may want to own and operate the ranch as a relaxing getaway. The other are operatosr who can utilize the Taos County special permit Black obtained for the land that allows it to be used for certain commercial uses, including as an executive, corporate or wellness retreat site, a center for educational, agricultural or religious purposes, or even a film or music recording studio. He noted while it property can’t be used like a regular hotel — with rooms leased to individuals on a nightly basis — an owner could rent out the rooms to groups. “It does have quite a bit of flexibility,” said Haghani.

Black is also the founder the Blackstone Ranch Institute, a grant-giving organization focused on environmental projects that began in 2006. Though it shares a name, the institute is not based and operates independently from the ranch. The institute will continue to operate, according to director John Richardson. He said there were plans in the early years to be headquartered at Taos County property and operate alongside an eco-friendly ranch, but that it was determined early on that the organization could function and fund projects nationwide without being based there.

On behalf of Black, Haghani said in an email that he was selling the property because “he simply doesn’t have enough opportunity to get down there and use/enjoy the property.”

Home » Business » Most Recent Biz News » Taos ranch goes up for auction, minimum bid $19M


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

taboola desktop

1
Bernalillo County certifies midterm election results
2022 election
All counties have now sent totals ... All counties have now sent totals for Nov. 29 canvass
2
Lawmakers target financial exploitation
ABQnews Seeker
State legislators prepare bills for the ... State legislators prepare bills for the 2023 session
3
Report: State pays big bucks for empty offices
ABQnews Seeker
NM officials say space is needed ... NM officials say space is needed and remote workers will eventually return
4
8 hopefuls vie to fill vacant Senate seat
ABQnews Seeker
BernCo Commission set to choose new ... BernCo Commission set to choose new state senator to represent ABQ's West Side
5
Gov. to travel to climate summit being held in ...
ABQnews Seeker
Post reelection, Lujan Grisham will attend ... Post reelection, Lujan Grisham will attend 2nd week of the event
6
Stansbury draws out-of-town backing
2022 election
But Garcia Holmes says lawmaker from ... But Garcia Holmes says lawmaker from Maryland is 'out of touch'
7
Trump backs Ronchetti in NM race for governor
2022 election
Former president says he would be ... Former president says he would be 'tough & smart on crime'
8
Journal Poll: Democrats hold leads in four statewide races
2022 election
They have a structural advantage, but ... They have a structural advantage, but poll results outline some differences in this year's campaigns
9
Navajo to investigate missing tribal members
ABQnews Seeker
FBI released a list of more ... FBI released a list of more than 170 missing Native Americans