Bradley Robertson Sells Paradise Valley Lot for $13 Million

Blockchain mogul Bradley Robertson has flipped 5 acres of raw land with plans for a 51,600-square-foot mansion in Paradise Valley for $12.5 million, a state record for a single-family lot.

The tech entrepreneur sold the land on Billionaire’s Row at 5711 North Yucca Road, the Phoenix Business Journal reported. The undisclosed buyer paid in cash.

Robertson bought the vacant parcel two years ago for a then-record $9.4 million. He put it on the market in April for $15 million. David Larchez of Silverleaf Realty held the listing.

The closing sale works out to $2.5 million an acre. The $12.5 million deal set a record for a single-family home site in Arizona.

The purchase includes architect Bing Hu’s plans for a 51,585-square-foot house.

“There are people that want to build 20,000, 30,000 or 40,000-square-foot homes, but the only real limitation is the lot size,” said Frank DiMaggio of Compass, who represented the buyer. “There aren’t many lots like this that will ever exist in this area.”

He said the buyer is an entrepreneur who has other homes around the U.S., and will work with Hu to add his own ideas to the design. A builder has not been identified.

The record deal is DiMaggio’s second. In June last year, DiMaggio sold a 1.25-acre lot in Paradise Valley for $7 million, the state record for price per square foot.

Larchez said the record price highlights the property’s appeal and the central role of Paradise Valley in Arizona’s luxury market.

The property is surrounded by some of the state’s most distinguished homes and offers mountain views of Camelback, Mummy, McDowell and Four Peaks, Larchez said.

Originally, Larchez said Robertson was willing to accept Bitcoin for the transaction, but it ended up as an all-cash deal.

Robertson, behind a series of web-related startups, founded CX, an early innovator in cloud computing; Polyient Labs, an early-stage incubator for blockchain innovation; and Polyient Games, an investment firm focused on non-fungible tokens and blockchain gaming.

— Dana Bartholomew