I-Team: Tony Hsieh’s estate looks to unload millions in Park City, Utah, properties

National

Latest notices of sale worth $30M in market value, records show

LAS VEGAS – FEBRUARY 17: Zappos.com CEO Tony Hsieh poses after delivering a keynote presentation at the MAGIC clothing industry convention at the Las Vegas Convention Center February 17, 2010 in Las Vegas, Nevada. Zappos.com is a shoe and clothing online retailer. (Photo by Ethan Miller/Getty Images)

LAS VEGAS (KLAS) — The administrators of former Zappos CEO Tony Hsieh’s estate have filed paperwork in a Nevada court to explore the sale of nearly two dozen of the late Las Vegas entrepreneur’s properties in Utah, documents obtained by the I-Team show.

The properties vary from houses in Park City, Utah, to a resort near St. George, Utah, documents revealed. The combined market value for all the properties was listed at nearly $30 million, assessors records stated.

One property, which is believed to be Hsieh’s primary residence, was assessed at more than $4 million. The home sold for nearly $15 million last year, records show.

A notice of sale was also filed for 1000 E. Holmstead Ranch Road, which is the address for the Holmstead Ranch Resort in Central, Utah, according to the filings.

The notices of sale indicate the estate is exploring the sale of the properties, not that they are necessarily for sale, essentially meaning they could be sold to the highest bidder. Last year, a judge named Hsieh’s father and brother as co-administrators of the estate.

In February, the administrators filed notices of sale for dozens of properties in Las Vegas to sell to the “the highest and best bidder” in all cash transactions. Bids were asked to be submitted to the lawyer representing the administrators.

“The estate may retain certain properties and sell others, or it may retain all of the properties,” a lawyer for the estate told the I-Team in an email regarding the first round of properties. “Once the publication process is complete, the estate will consider reviewing serious, written offers.”

Hsieh had lived the last few months of his life in Utah and was working on several projects there, several lawsuits filed in court indicated.

As the I-Team reported in January, investigators in New London, Connecticut, said the 46-year-old was in a storage room with a 20-pound propane tank at the time of the Nov. 18 fire. Hsieh was rescued during the incident, but later died in Connecticut on Friday, Nov. 27.


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