An 18,500-square-foot Paradise Valley estate has sold for $23.5 million in cash, setting a new record for the posh town.
The opulent home has four garages, including a car showroom with antique gas pumps, two swimming pools and two libraries. It is located on five acres next to Mummy Mountain.
The mansion also comes with two bars, a 900-bottle wine room, a theater, a piano room, a gym, a guest house and dozens of palm and orange trees.
An LLC called Go Citrus 1 bought the home from an LLC led by tech inventor Daniel Morrison, who founded ITToolbox. Public records don’t show who is behind Go Citrus.
The house was developed by former Taser International Chairperson Phillips Smith in 2009.
“It’s a fun house with super high ceilings and large living spaces,” said Joan Levinson of Realty ONE Group.
She had the listing and said the last record price paid for a Paradise Valley home was $21 million in 2022.
Prices for homes in Paradise Valley have not dipped like they did in most other parts of metro Phoenix during the second half of last year.
The median price of a house in Paradise Valley, the region’s most expensive neighborhood, climbed more than 12% to almost $2.7 million during the last quarter of 2022, according to the Arizona Regional Multiple Listing Service.