Paradise Valley property to be razed for $30M compound with 20-car garage

MDF Development plans to build a 15,000-square-foot private gated compound in Paradise Valley and sell it for $30 million, making it one of the most expensive home sales in the metro.

The Scottsdale-based luxury developer closed April 30 on an existing property for $5.75 million, with plans to raze that structure and build the new home on the 2.82-acre lot.

Frank DiMaggio, co-founder of MDF Development, said he hopes to break ground in a year and complete construction during the first or second quarter of 2028.

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

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