Stein Eriksen Lodge in Deer Valley
The internationally renowned Stein Eriksen Lodge is a condominium ownership hotel in the Upper Deer Valley neighborhood in Park City, Utah. Stein Eriksen Lodge provides guests with the ultimate year-round luxury destination, offering world-class skiing during the winter and biking, golfing, shopping, horseback riding, swimming, tennis, and fishing during the summer. Nestled mid-mountain at the Deer Valley Resort, Stein Eriksen Lodge provides ski-in/ski-out access to immaculately groomed trails; the chairlift to Upper Deer Valley is 75 feet away. Stein Eriksen Lodge has long been the premeir ski vacation property in Deer Valley and Park City, Utah.
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Is Stein Eriksen Lodge the best Deer Valley Real Estate choice for you?
Stein Eriksen Lodge is located slopeside at Deer Valley Resort in Park City, Utah. This property of luxury condos is perched on top of the mountainside in the Upper Deer Valley neighborhood affording beautiful views, and a private, secluded setting. The Lodge is on Stein Way, which is just off of Royal Street. Stein Eriksen Lodge includes many amanities of its own, and additionally, Deer Valley's Silver Lake Village is only steps away.
The Stein Eriksen Lodge was built in 1981 - 1983 and has been long known as a benchmark for the utmost in quality and service throughout the North American skiing community. The property includes 65 condo units with one bedrooms up to five bedrooms and between 1,300 - 5,000 square feet.
The European-style Lodge was named after Olympic Gold Medalist, Stein Eriksen from Norway. Eriksen dreamt of a luxury ski hotel nestled in the slopes of the Wasatch Mountain range in Park City. Aesthetics are only a part of the Stein Eriksen Lodge experience. "Stein's" is a sanctuary for those seeking the ultimate in luxury, hospitality, accommodations, fine dining, spa services and year-round recreation.
Dine at the Four Star rated Glitretind Restaurant in the elegant slopeside setting while enjoying Regional American cuisine. For the wine connoisseurs, one of the four sommeliers can conduct a personalized wine seminar in the 10,000-bottle wine cellar. Pamper yourself at the exclusive, luxury spa where guests are offered deep tissue massages after a long day of skiing the slopes of the near by Deer Valley Ski Resort, hiking in the Wasatch Mountains or shopping along historic Main Street in Park City.
Quick Facts for Stein Eriksen Lodge:
1. There are a total of 65 units at the Stein Eriksen Lodge; 2, 3, 4 & 5 bedroom units.
2. There are three owners that own 2 units. Every owner with the exception of 1 participates in the rental program. There are 179 “keys”, rental rooms in the program.
3. Owners own the SELMC, the management corporation; because of this the splits are unconventional. The splits are based on the “cost of doing business”. Every year this varies, usually coming out to 40(owners)/60 before HOA is paid.
4. HOA fees are based not only on square footage, but also other hotel factors, some of which are income producing, such as transportation, spa, amenities, real estate, and the rental of the three units downstairs owned by the HOA. There are over 11 acres. Our relationship with Chateaux – we are the management company only for the units, the Residence Club, and run the restaurant.
5. The relationship with the Stein Eriksen Residences, includes participating in the sale of real estate; a licensing fee and then a management contract.
6. When figuring possible rental revenues, you must take into account owner usage; owner usage during peak periods will significantly impact rental revenue. Rental revenues that are related are net AFTER HOA fees. We want Buyers to discuss and understand the rental programs. During Due Diligence we set up a call with our CFO, Mark Lundskog. Owners are only responsible for monthly electric costs, property taxes and any mortgages. Even though SEL is well insured, in the case of destruction, we recommend that owners have put content insurance on at their own expense to cover furnishings, cabinets, etc.
7. Owners are given a calendar every May to block out personal use dates for the upcoming ski season. Owner usage dates are due back to the management of the Lodge by mid-June of each calendar year. I tell new Buyers the first year to block out more than they think they will use, and then throw it back when they realize they won’t use it.
8. Mortgages are available from lenders; Most require 40% down because it is a condo-tel.
9. No housekeeping fees are charged for the first 14 nights of personal owner usage. For any nights above 14, there is a nightly fee of $70 for a suite and $35 for a lockout unit.
10. Each owner is charged a nightly service charge that covers gratuities for the staff. During the winter season the charge is $40 per suite, $30 per lockout, off-season rate is $20 per suite, $15 per lockout.
11. Rental revenue checks are issued to the owners once per calendar year (February disbursements).
12. HOA owns 100% of the property, including the ground space, but not the revenues of the three retail shops (managed by Stein Eriksen’s family). Nothing is “developer owned”.
13. Owners are given preferential reservation times at the restaurant and spa.
14. Owners are afforded a 10% discount year round for spa treatments, retail and restaurant charges (excluding alcohol). The exception is black-out periods, Christmas, Sundance, Presidents and infamous “spring break” week. 15. The units are sold turn-key, there might be some exceptions for each sale. 16. Full due diligence is performed after a unit is under contract. Disclosures include, for 3 years; rental history, financials, budget & minutes, annual owner minutes, all correspondence between owners and management, copies of insurance binders, inventory list of personal property (furnishings), rental management agreements sample calendar and a Seller Property Condition Disclosure. I use Park City Title. 17. Please ask me about the possible transfer of reserve funds. This is different in each sale. As the unit rents, approximately 4% of NET income is held back so that each unit has a reserve fund. 18. Parking: owners cannot keep a car here year round. They and other guests are allowed to park when occupying their unit. Parking is not assigned. Most owners have been happy with the Concierge organizing their airport transportation and then using our van service. 19. Units must be maintained at the owner’s expense as determined by Management. All decorating has to be approved in advance by Juxtapose Design, who set the guidelines. 20. A two bedroom sale gets assigned two ski lockers in the Owners’ Lounge. A three bedroom gets 3 lockers, 4 and 5 bedroom units get 3 lockers.
If you like Stein Eriksen Lodge in Upper Deer Valley, you might also try:
Chateaux at Silver Lake is across from Steins and also offers a luxurious property rich with amenities. The Chateaux and Steins now share the same management. The Chateaux is not actually ski-in, ski-out but is only across the street from the base of Silver Lake Village so the walk is very easy. St. Regis Deer Crest at Deer Valley is one of the most luxurious ski condo hotels in Park City. The Montage at Deer Valley is also a high-end, luxurious, amenity rich condominium development and is located slopeside in Deer Valley's Empire Pass. Or try our search for ALL properties in the Upper Deer Valley area of Park City.
Need More Info About Deer Valley Real Estate?
Heather & Sean are Local Park City REALTORS® who can help you with all of your Park City & Deer Valley real estate needs. Call us at 1.435.901.2158 or contact us online for a free consultation.
The information provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
Listing information last updated on October 1st, 2022 at 11:43am MDT.