ARIZONA REAL ESTATE & HOUSING NEWS
Former Arizona Coyotes owner scores huge windfall in sale of Paradise Valley mansion
The former owner of the Arizona Coyotes hockey team made a staggering profit on a Paradise Valley home that he and his wife purchased in 2021.
Watch: The truth about Arizona's water shortage and your bills | 11 mins
The former owner of the Arizona Coyotes hockey team has made a staggering profit on a Paradise Valley home that he and his wife purchased in 2021.
Alex Meruelo and his wife Liset closed May 22 on the sale of their 9-acre gated property for $30 million, according to Joan Levinson of Realty One Group, who handled the sale and also originally found the home for the Meruelos to purchase.
The couple purchased the residence at 5815 N Saguaro Rd. for $12.1 million, two years after Meruelo had acquired the now-defunct National Hockey League franchise in 2019.
Meruelo was forced by the NHL into selling the team in April 2024 to new owners in Utah after several scuttled attempts to find a permanent home arena for the team.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
Related
Demolition of Food City in Tempe makes way for affordable housing, grocery development
Saddleback community in Peoria unveils debut model home collection
Scottsdale developer DMB sells off 308 home lots in Buckeye
Valley takes 4 of top 10 spots in ranking of best US cities for 1st-time homebuyers
Paradise Valley estate with shooting range, go-kart track sells for state record $40M
Construction begins on Modera City North luxury apartments in Phoenix’s Desert Ridge area
Comments
2 Comments
Perhaps Alex and Liset Meruelo should simply stick to real estate trading, what happened with the coyotes was an absolute abomination.
Alex Meruelo's mishandling of the coyotes will be a tough strain to remove for decades to come.
In real estate you make money when you spend a lot of time finding the right location with potential. The location is the key and then an eye for special detail inside and out. This may require a landscaper and interior designer. It takes money to make money. Ted Turner says real estate has beat the stock market for him many times over.