Saturday, November 26, 2022 10:15 pm

How They Closed It: Desert Spec Build Sets Pair Of Arizona Records

(Listed for just under $9.9 million, the speculative development atop Camelback Mountain in Paradise Valley, Ariz., set a price record for spec homes earlier this year when it sold for $9.75 million. RETSY | ERIK KRUK)

By Neal Leitereg | Forbes

When it comes to the world of luxury real estate and development, closing a deal can be as nuanced as it is cut-throat. Here’s how one of Arizona’s top real estate agents pushed Phoenix’s spec-home market to new heights with a record-setting deal.

The Who: Josh Peters, founding partner of Scottsdale-based brokerage RETSY, has more than a decade of experience working in the wealthiest pockets of Arizona. A 2019 member of the “Top 40 Under 40 in Real Estate,” Peters regularly works with owners of Fortune 500 companies, athletes, celebrities and sports team owners. He recently sold a brand new, custom contemporary home on Cholla Lane in Paradise Valley for $9.75 million, setting a price record for Arizona’s most expensive spec home. The sale also raised the bar in terms of price per square foot, setting a new record at $1,511 per foot. 

The What: Developed by ARCO Custom Homes, the single-level home sits on a flat, one-acre lot that is accessed via a private and gated road. Positioned to maximize the views, the modern tour de force has more than 6,400 square feet of open-concept floor space, high ceilings, floor-to-ceiling windows and retractable glass walls that bring the indoors and outdoors together. Outside, it’s resort-style living with a spectacular swimming pool, spill-over spa, outdoor kitchen and owner’s hideaway.

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