A luxury real estate agent just broke a state record with a recent Paradise Valley land sale.
Frank DiMaggio of Compass closed the state’s largest-ever land deal for a single-family home when he sold a 5-acre parcel at 56711 N. Yucca Road in Paradise Valley for $12.5 million.
The property is in the Camelback Mountain community known as “Billionaire’s Row,” with the names of the buyer undisclosed by DiMaggio.
According to a press release, the land has a level landscape with flat terrain across its five continuous acres, which makes the site good for construction.
The sale is not DiMaggio’s first record broken. DiMaggio also has the record for the highest-ever price-per-square-foot paid for land in Arizona from a 1.2 acre lot he sold for more than $7 million, which is $129 per square foot.
The press release said that DiMaggio expects the home to eventually span over 50,000 square feet.
