A New Home Is Crowned Priciest Property to Ever Sell in Paradise Valley
By E.B. Solomont April 15, 2023 9:00 am ET Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert. In Paradise Valley, Ariz., a home built for a car collector has closed for $23.5 million, making it the most expensive home ever sold in the affluent Arizona town, according to listing agent Joan Levinson of Realty One Group. The property hit the market in January asking $25 million. The seller was tech entrepreneur Daniel Morrison, who bought the home for $10.5 million in 2012, records show. The identity of the buyer couldn’t be determined.
Be the first to know about the biggest and best luxury home sales and listings by signing up for our Mansion Deals email alert.
In Paradise Valley, Ariz., a home built for a car collector has closed for $23.5 million, making it the most expensive home ever sold in the affluent Arizona town, according to listing agent Joan Levinson of Realty One Group.
The property hit the market in January asking $25 million. The seller was tech entrepreneur Daniel Morrison, who bought the home for $10.5 million in 2012, records show. The identity of the buyer couldn’t be determined.
Mr. Morrison declined to comment.
Completed in 2009, the home was built for Phillips W. Smith, Ms. Levinson said. Mr. Smith, who died in 2021, was the chairman of the weapons and technology company , now known as Axon, according to the company’s website.
Set on roughly 5 acres, the main residence is roughly 16,500 square feet with an approximately 2,000-square-foot guesthouse. The property has a red-lacquered show garage that can hold up to four cars. There are two additional three-car garages and a 17-foot-high RV garage that can hold 20 cars.
The grounds have two swimming pools, including a covered, 75-foot lap pool.
Photo: Joan Levinson
Newsletter Sign-Up
Real Estate
From aspirational residences to major commercial deals.
Subscribe NowThe home has two barrooms, two mahogany libraries, a piano room, a theater and a wine room with space for about 900 bottles. The property has two swimming pools, including a 75-foot lap pool, and approximately 8,000 square feet of covered patio space.
Mr. Morrison is the co-founder of the social network ITtoolbox, where he served as CEO until 2009, and the founder and CEO of the social networking research and development company Phanto. He invested $4.5 million to update the property, including planting 40 date palms and orange trees on the property.
The prior record for Paradise Valley was set last year with a $21 million sale, Ms. Levinson said.
In March, the median Paradise Valley sale price was $3.4 million, according to Redfin. There were 26 homes sold last month, compared with 55 in March 2022.
Write to E.B. Solomont at [email protected]
What's Your Reaction?
