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A slice of paradise in Paradise Valley is going for $55 million

It's the mountain views most buyers are after, a luxury broker told 12News.

PARADISE VALLEY, Ariz. — It used to be quiet out here all the time. Lately, though, the roar of bulldozers and earthmovers has been echoing more often through Paradise Valley.

Except ... for this one P-shaped parcel just west of 54th Street and north of Desert Jewel Road.

That 27 acres of quiet is the largest undeveloped space in tony Paradise Valley. And now it's for sale. 

In a valley -- and a Valley -- that has grown by leaps and bounds, the land has been an oasis of quiet, its only development "No trespassing" signs. 

And it can be yours for $55 million.

"You can fit approximately 21 homes on the property," said Luxury Broker Josh Stately Peters. "Development standards in Paradise Valley are outstanding about protecting property values and the residents' view corridors."

The property was owned by the former CEO of the Dial Corporation, purchased years ago and has since been passed down through family after he died in 2011.

Peters said part of this area's appeal is the scenic views that are protected by existing ordinances.

He said while the draw to this neighborhood is proximity to the country club and limited commercial real estate, it's the mountain views most buyers are after.

"There will be maximum view heights up to 24 feet unless it's a larger estate then they may be able to capture up to 30 feet in height but ultimately it shouldn't impact the view corridors too much," Peters said.

The Teets family has owned it for decades, leaving it nearly untouched. 

"My hunch is, it's a great time to sell property," Peters said. "It's the largest single parcel of flat land that's available in Paradise Valley."

 For further information on this listing, please reach out to:

Joan Levinson
c: 480-543-0006
o: 480-998-5673


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