A home in Arizona’s wealthiest city sells for a record $21 million

6015 East Cameldale Way (Zillow, iStock)

A four-bedroom home in Paradise Valley, Arizona, has sold for $21 million, a record sum for the suburb of Phoenix, which boasts of richest zip code.

The 13,000 square foot home, which sits on 4.3 acres at 6015 East Cameldale Way, was asking for $22.5 million when it hit the market last spring, The Wall Street Journal reported.

Nancy Hanley Eriksson, who sold the house, built it more than a decade ago with her late husband, Lee Hanley, the former CEO of Phoenix-based mall developer Vestar. Hanley died in 2012. The buyer has not been revealed.

The Mediterranean-style home, with views of the Mummy and Camelback Mountains, features a wine cellar and a wood-paneled library. Along with the main house, the property contains a one-bedroom “casita” and a two-bedroom guest house, according to the Journal, as well as a swimming pool and outdoor lounge areas.

A recent influx of out-of-state buyers has increased demand for luxury homes in Paradise Valley, which has a median household income of more than $200,000, according to Census Bureau Data. The median listing price for a home in the affluent enclave has doubled in the past three years to $5 million, the Review reported in February.

Listing agents for this month’s record sale, Walt Danley and Catherine Jacobson, with a local Christie’s International affiliate, told the Journal they also sold the town’s former record holder: a nearby property which cost $20.9 million in 2020.

Their last record could be short-lived: 800 meters away, the most expensive ad is a 16,844-square-foot, six-bedroom home at 5953 North Yucca Road, asking for $24 million, up from $33.7 million originally requested by its owners in February, according to Zillow. Katrina Barrett of Local Board Real Estate made the list.

[WSJ] —Victoria Pruitt

About Jefferey G. Cannon

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