Beaver Creek – L. Dennis Kozlowski, the imprisoned former chief executive of Tyco International Ltd., is selling his Colorado mountain mansion for $10 million to raise money for fines and restitution, court documents show.
An unidentified Texan agreed to buy the 8,627-square-foot house near Beaver Creek and to pay another $750,000 for the furnishings in a deal to close Thursday, according to a real-estate broker and a sales contract filed in court. The house has a heated driveway and a stuffed mountain lion on a 20-foot-high beam just inside the front entrance.
“At $10 million, it’s a decent house, although some people I talked to thought it wasn’t worth more than ($8 million),” said David Nil ges, a Colorado real-estate broker not involved in the sale who toured the residence in January. “The view is to die for.”
Kozlowski, convicted in 2005 of looting Tyco, is selling assets to pay $167 million in court-ordered restitution and fines. Prosecutors said in August he was $59 million short.
