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By Angela Gonzales | Phoenix Business Journal
The iconic Ascension Lutheran Church in Paradise Valley — practically across the street from the sprawling Ritz Carlton project under development — has been sold for $11 million in cash.
The buyers plan to raze the nearly 60-year-old structure to build luxury custom homes on the 5.3-acre parcel, said Jay Mecray, who represented the buyer and who is part of the residential development team. The deal closed on July 24.
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