The recent sale of a Utah ranch set a record as the priciest residential sale ever recorded in the state.
The Riverbend Ranch property in Oakley sold for $32.5 million. The eight-bedroom, nine-bathroom, 16,800-square-foot home sits on 2,760 acres along the Weber River about 25 minutes from Park City.
Paul Benson of Engel & Völkers, the listing agent, said much of the home's value is related to its unique position on the river. The state no longer allows construction that close to the water, but this home was grandfathered in and rebuilt.
"It is a spectacular self-contained estate," he told FOX Business.
The home shows off detailed craftsmanship with features like floor-to-ceiling walnut bookcases, hand-planed floors, hand-forged ironwork and a custom mahogany bar.
Pocket doors open from the living space onto the stone patio beside the river. The outdoor area features a fireplace and a fire pit.
The sprawling property also includes its own helipad, tennis court, large riverfront barn and trails for riding horses or ATVs.
The record sale price was actually more than the initial price of $30 million when the property went on the market in 2017, The Wall Street Journal reported. The seller, California VC fund head Vinny Smith, had added several parcels of land since it was first put on the market.
The buyer was Trevor Milton, CEO of hydrogen-electric truck maker Nikola Motor, according to the report.
Milton told the Journal he plans to use the property as a working ranch, raising organic beef and growing organic produce.
"I feel like my generation is asset-light, wants smaller everything and is moving to cities, which is the opposite of what I wanted in life," the 37-year-old told the Journal. "I enjoy the country, space, privacy and wildlife rather than skylights… I wanted to create a sanctuary where I could live off the land."