Unbuilt Scottsdale mansion asking $32M, priciest in Arizona

Home will be on two-acre lot in gated Silverleaf community

20568 N 112th Street, Scottsdale, AZ (Redfin)
20568 N 112th Street, Scottsdale, AZ (Redfin)

The most expensive home for sale in Arizona hasn’t been built.

Jerry Smith, the founder of Arizona credit card company Integrity Payments, and his wife, are building a 17,267-square-foot home on a vacant two-acre lot in Scottsdale’s gated Silverleaf community, the Wall Street Journal reported. It’s being marketed with an asking price of $32 million.

20568 N 112th Street, Scottsdale, AZ (Redfin)

The property (Redfin)

Smith bought the empty lot for $3 million after selling his company and the couple decided to build the home from the ground up as an investment opportunity.

Plans call for a five-bedroom main house and a two-bedroom guesthouse. Drewett Works Architecture, G.S. Fries Construction and Ownby Design are responsible for the design and construction of the home.

Inside the property (Redfin)

Inside the property (Redfin)

It will include a 90-foot-long, elevated outdoor swimming pool as well as a wellness area with a fitness room, sauna and plunge pool. Plans also include a 16-vehicle car gallery that connects to the motor court via an automotive elevator.

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Claire Ownby, of the interior design team, said the homes will pay homage to the 1920s and 1930s with art deco influences such as chevron-patterned wood floors and limestone walls.

Inside the property (Redfin)

Inside the property (Redfin)

The Silverleaf community is in the foothills of the McDowell Mountains and is where a home sold for $28.1 million — the state’s most expensive sale. Another home in the same neighborhood sold for $24.1 million in 2020.

Luxury residential real estate in Scottsdale is limited. The Wall Street Journal found that Scottsdale had a 51 percent drop in the number of homes available for sale between April 2021 and March 2022, compared with the same time period a year earlier.

The home is scheduled to be completed in 2024.

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[WSJ] — Victoria Pruitt