A Paradise Valley parcel with prime views of both Camelback and Mummy mountains sold for $7 million cash, setting the record for the highest paid for a home lot in Arizona.Eric and Lori Risser, both executives with Roofing Wholesale Co., bought the 1.25-acre lot for $125 a square foot.The sale breaks last year’s record set by Channel Red LLC, which is managed by YouTube personalities and video gamers Alia Shelesh, known as SSSniperwolf, and Evan Young, known as Evan Sausage. The couple paid $6.99 million cash for 2.25 acres of vacant land on Paradise Valley’s Mummy Mountain.A trust led by Los Angeles attorney and vice chair of Fidelity National Financial Frank Willey recently sold the new record-breaking lot.The lot’s building requirements only allow for 25% of the property to be developed, said Frank DiMaggio, managing partner at Launch Powered by Compass, who had the listing.“Having a full unobstructed view of Camelback Mountain really sets this property apart,” said DiMaggio.He said the “oversized lot” with the extra 1/4 acre provides more space for building a bigger home, garages, pools, and other outdoor buildings and areas.Reach the reporter at catherine.reagor@arizonarepublic.com or 602-444-8040. Follow her on Twitter @CatherineReagor.
See the full Home Prices article, or, read more Arizona real estate investing news. Go ahead. You know you want to.
