Ritz-Carlton residences sell $249M in 1 day

Photo provided by Five Star Development
Photo provided by Five Star Development

By David McGlothlin | AZRE

The Ritz-Carlton Residences in Paradise Valley obtained property reservations for 89 of the 91 villas released at the one-day, private sales event last Saturday totaling $248,760,000.

“We believe it was the largest real estate event ever in Arizona,” said Jan Bracamonte, spokeswoman for Five Star Development, the project’s developers. She describes the villas as “the most sophisticated, full-service resort real estate offering in Arizona to date.”

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