SOLD: Dome Mountain Ranch
The famed Dome Mountain Ranch, one of the largest ranches in Montana’s Paradise Valley, has sold. The property was listed for sale for $45m with Greg Fay, the founder of Fay Ranches. The ranch is well-known, boasting incredible habitat throughout its 5,329± acres, and includes world-class fly fishing on nearly five miles of the Yellowstone River and an elk herd that numbers in the thousands.
Located just north of Yellowstone Park, the ranch borders National Forest land and is contiguous with nearly a million acres of the Absaroka/Beartooth Wilderness. Dome Mountain Ranch is one of the most significant private landholdings within the Greater Yellowstone Ecosystem.
Dome Mountain Ranch and its outfitting and guest ranch business have been featured on many television shows and magazines, which has only added to its well-deserved notoriety.
Fred Smith, the owner and steward of the property for the past 25 years, searched for three years for the perfect place before settling on the Dome Mountain Ranch. He purchased the ranch in 1996 by assembling four adjoining parcels into what it is today. “There was no place that I found that had the animal concentration, beauty, and the relative isolation, but was still an hour and 15 minutes from a major airport,” Smith said. “And there’s only so much land in the world. Where our ranch is, no one has collectively as much land as we have. And it’s extremely valuable and extremely unusual since there’s no other piece of property like it in the area.”
Smith spent the past 25 years shaping this stunning property, with a particular concern for conservation and preservation of the natural landscape.
“It has been an honor working with Fred and his family to execute the sale of Dome Mountain Ranch. They have been valued clients for over 20 years. It is also rewarding to know that the ranch will be in strong hands going forward and will be conserved by the new owner.”
Greg Fay is a pioneer in the land brokerage industry. When Greg founded Fay Ranches in 1992, it was initially called Fay Fly Fishing Properties. Greg was the first to assign value to the recreational amenities of large agricultural ranches. He began marketing ranches on a national and international basis to a new audience, anticipating that there would be buyers who shared his recognition of placing value on the quality of the trout fishing or elk hunting on a given ranch—a paradigm shift in the market. Prior to Greg’s new approach, the value of a ranch in Montana was based primarily on its agricultural production.
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