Trending

Paradise Valley mansion sells for area record $23.5M

Arizona’s wealthiest enclave’s previous record for a residential sale was $21M

Phanto's Daniel Morrison and Paradise Valley mansion (Getty, Twitter, c/o Joan Levinson and Realty ONE Group)

Phanto’s Daniel Morrison and Paradise Valley mansion (Getty, Twitter, c/o Joan Levinson and Realty ONE Group)

The price for paradise is not cheap.

An 18,500-square-foot mansion in Paradise Valley, Arizona — which boasts the state’s richest ZIP Code — sold for an area-record $23.5 million, Azcentral.com reported.

Phanto CEO Daniel Morrison sold the property through an LLC to another LLC, Go Citrus 1. Joan Levinson of Realty One Group had the listing. 

The luxe home — which was developed in 2009 by Taser Chair Phillios Smith  — has two libraries, a theater, a gym, a piano room, a 900-bottle wine room and two bars, according to the outlet. The home also has four garages with a car showroom that has antique gas pumps.

The 5-acre grounds include two swimming pools, a guest house, and palm and orange trees.

The previous record for a residential sale in Paradise Valley was $21 million, set in 2022. The 13,000-square-foot home, which sits on 4.3 acres at 6015 East Cameldale Way, was asking $22.5 million when it hit the market in spring 2021.

Sign Up for the undefined Newsletter

Both of those sales pale in comparison to what Cullum Homes and Wow Luxury Properties are asking — $75 million — for Palo Cristi Estate, which is still under construction. 

The 33,000-square-foot main mansion will have seven bedrooms, two spa locker rooms, four kitchens, four wet bars, a two-story office/library, casino room, two bowling lanes, a movie theater/metaverse room, home gym, recording studio, collector’s gallery, two story aquarium, an ice cream bar, and a spa with a sauna, snow room, two massage rooms and vitality pools.

Paradise Valley is also still a desirable place to continue development. 

Five Star Development last week received a $585 million loan from Madison Realty Capital to complete an oft-delayed $2 billion resort, residential, dining and retail development in the wealthy enclave. 

The loan will be used to finish construction of the Ritz Carlton Resort and Residences — a 215-room Ritz-Carlton resort surrounded by 80 single-level villas, and 32 single-family homes at the 122-acre Ritz Carlton Paradise Valley, Palmeraie development.

— Ted Glanzer

Recommended For You