Bidding war on French-inspired home closes at $17.1M in cash — a record for Arcadia

After listing for $18.5 million in January, a French-inspired estate in Arcadia just sold for $17.1 million in cash — a record for that area.

The 8,434-square-foot estate at 6415 E. Exeter Blvd. in Scottsdale sold for $2,027.51 a square foot, which represents the highest price per foot per acre in Arizona, said Katrina Barrett, designated broker and owner of Local Luxury | Christie’s International Real Estate and listing agent for the property.

Other estates selling for $2,000 a square foot are on two to five acres, while this property is on nearly an acre, she said.

When she listed the estate in January, a bidding war immediately erupted.

“We had five interested parties,” Barrett said. “The first offer opened at $14 million and it ran up from there.”

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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