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Phoenix Suns Owner Sells Home For Record Price

The owner of the Phoenix Suns, Robert Sarver, set a record after his Paradise Valley mansion sold for $19.25 million.

It’s the highest-price ever paid for a single-family home in Arizona. The 28,043-square-foot mansion features views of Camelback Mountain and a full-size basketball court.

According to the county assessor’s website, Sarver and his wife, Penny, bought the property in 2007. The home’s full cash value is listed at $13.6 million, nearly $6 million less than the sale price.

Realtors Walt Danley and Catherine Jacobson with Walt Danley Christie’s International Real Estates represented the unidentified buyer and announced the sale.

“As the most expensive house ever sold in Arizona, this is certainly a noteworthy milestone for our community and our luxury real estate market at large,” Jacobson said in a prepared statement.

Arizona’s second most expensive home sale was last year in north Scottsdale at $18.8 million.

Sarver, who bought the Suns in 2004, is executive chairman of Western Alliance Bancorporation.

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As a senior field correspondent, Christina Estes focuses on stories that impact our economy, your wallet and public policy.