Manhattan Art Dealers Sells Eighty Acres in Scottsdale for $14.2m

VIZZDA—December 28^th, 2012 — Pat Maroney, in his capacity as Division President of Standard Pacific Homes, has acquired 73.23 net acres in an 80-acre tract at the Northeast corner or 136^th Street and Shea Boulevard. The sellers, David B Findlay Jr. and Harry Peter Findlay, inherited a larger assemblage—of which this parcel is a part—from their father, David B Findlay Sr.. The Findlay family first acquired the property on April 3^rd, 1969.

The parcel is zoned R1-46 and was approved for 66 custom lots by the City of Scottsdale Development Review Board on July 7^th, 2005. The lots have a minimum area of 32,323 ft² and an average area 43,398 ft². The plat calls for 40’ front setbacks, 35’ rear setbacks and alternating 20’ and 40’ side setbacks for a density unit per acre of 0.83. Using the net acreage figure, the $14.2m sales price represents a $193,909.60 per acre price for a per lot price of $215,152. Nate Nathan and Associates, Inc. brokered the all-cash sale.

By:

Paul Dionne

Director of Analytics

Vizzda.com