The McCune Mansion, the 52,000-square-foot hilltop estate long tied to the Hormel family, has a new owner. The storied Paradise Valley property has been sold to an out-of-state buyer for $9 million, and the new Florida-based investor is already talking about a massive renovation that could run into the tens of millions.
Public listings and property records show the compound at 6112 N. Paradise View Drive closed last Wednesday for $9,000,000 and lists roughly 52,000 square feet of living space, according to Redfin. Local coverage identifies the buyer as a Florida investor who plans to put about $40 million into renovating the estate, as reported by ABC15, which cites the Phoenix Business Journal.
What Sits On The Hilltop
The compound spans nearly six acres and includes a main house reported to have 14 bedrooms and 23 bathrooms, a 2,900-square-foot guest house, multiple entertainment spaces and an Olympic-size pool, according to ROCO Luxury Homes. The brokerage page that marketed the property notes the sale closed off-market, and its long list of amenities suggests any large-scale renovation will be a complicated and expensive undertaking.
A House With A History
The mansion was built in 1967 for Pennzoil heir Walker McCune and sits atop Sugar Loaf Mountain, according to local historic listings. Jamie and George “Geordie” Hormel moved to Arizona in 1991 and bought the estate for roughly $3.75 million, based on reporting tied to the original coverage and republished by KTAR News.
How The Deal Stacks Up
The sale lands amid a flurry of ultra-luxury transactions in Paradise Valley this year, including a spec build that closed for about $21 million in March, underscoring ongoing demand for large private estates, per The Real Deal. While $9 million sits below some of the town’s splashiest recent closings, the buyer’s pledged renovation budget could ultimately push the property into a very different price tier if those plans move forward…