November 21, 2024 10:33 am
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Developer says foreclosure notice won’t slow down luxury project

A rendering of a $75 million estate scheduled to break ground within the next few weeks in Paradise Valley. (3D Estates)

By Angela Gonzales | Phoenix Business Journal

The developer of a $75 million luxury estate in Paradise Valley is in default on loans he used to purchase the property on which he plans to build a 40,000-square-foot mansion.

Eureka, California-based Reprop Financial Mortgage Investors LLC issued two notices of foreclosure to David Hersh, founder of Scottsdale-based Wow Luxury Properties, according to public records.

Read the full subscription story from the Phoenix Business Journal.

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