Home News Scottsdale Spec House Sells for $28.1 Million, Becoming Arizona’s Priciest-Ever Home

Scottsdale Spec House Sells for $28.1 Million, Becoming Arizona’s Priciest-Ever Home

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According to Darren Tackett, a list agent at Re / Max Fine Properties, Scottsdale’s Spec Real Estate sold for $ 28.1 million, making it the most expensive home sale ever recorded in Arizona.

Approximately 4.5 acres of real estate developed by Mast Luxury Homes went public in February for $ 29.5 million. According to Mr. Tuckett, it signed the deal about a month later.

The buyer’s agent was Laura Briggs of Las Lyon Sotheby’s International Realty. Dr. Briggs did not reveal the identity of the buyer, but said the buyer was international. Scottsdale has seen an increase in demand from international buyers over the past few years, she said.

A recently completed property known as “altitude” is in the Silverleaf gated community, Mr. Tuckett said. Located at the top of the McDowell Mountains, it offers views of the mountains and the city of Scottsdale and Phoenix.

Michael Mazek, co-owner of Mast Luxury Homes, said he bought the property for $ 5 million in 2016. “Currently, inventory is limited in the luxury market, so Altitude has been well received and confirmed to be a relatively quick sale,” he said.

The previous record was set by $ 24.1 million Scottsdale Sold in 2020.

Altitude has a main home of about 17,000 square feet, 5 bedrooms, plus 2 guest houses and a garage of 12 cars. Facilities include a theater room, two fitness rooms, two elevators, and a poker room that can also be used as a cigar room, Mr. Tuckett said. Outside, there is a large fire pit at the edge of the pool.

According to Mr. Tuckett, the property took about four and a half years to complete and showed strong interest when it hit the market. He said local luxury markets remain active despite rising interest rates.

The house is at the top of the McDowell Mountains.


Photo:

Jessica Peterson

“As far as I know, the luxury market hasn’t slowed that much,” said Tuckett, pointing out low inventories and strong demand.

According to Realtor.com, Scottsdale saw a 51% reduction in the number of homes for sale between April 2021 and March 2022 compared to the same period last year. News CorpI run Realtor.com, the parent of The Wall Street Journal.

Write to Libertina Brandt [email protected]

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