May 12, 2024 1:27 pm
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Vacant lot in Paradise Valley sells for a record price

Via Launch Realty

By Angela Gonzales | Phoenix Business Journal

An Idaho couple just sold a 1.25-acre vacant lot in Paradise Valley for a record $7 million in cash, after paying $5.5 million in their own cash deal for the parcel in April 2022.

The $7 million price tag equates to $129 a foot when a typical 1-acre lot is selling for $66 a foot, said Frank DiMaggio, managing partner of Launch Real Estate who represented the sellers. The identify of the new buyer was not disclosed.

Read the full subscription story from the Phoenix Business Journal.

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