A sprawling Paradise Valley mansion just sold for $19 million without a single sheet of drywall hung inside it. The 14,131-square-foot estate at 6450 E. El Maro Circle, tucked into the golf-course enclave of Elmaro Estates, closed on August 3 while still roughly 60% finished, according to Homie.
The buyers, described only as being from California, jumped on the opportunity to purchase the home before construction wrapped, according to Chris Karas, founder and president of the Karas Group at Compass Arizona, who brought the buyer to the table, as reported by KTAR News 92.3 FM. Karas said the buyers declined to be identified, and the outlet notes he has sold several other luxury properties around the Valley. The seller, MDF Development, is based in Scottsdale and was still actively building the home when the deal closed.
The estate sits on 2.22 acres with six bedrooms and 11 bathrooms, working out to roughly $1,345 per square foot, per Homie’s listing details, which also note mountain-range views from the property. Architectural plans came from Matt Thomas Architecture, with interior design by Lauren Wallace Designs and landscape architecture handled by Berghoff Design Group — the kind of design pedigree that regularly shows up on MDF Development’s record-setting Valley builds, per the firm’s own background materials.
A Price Cut on the Way to Closing
The home hit the market in January 2025 asking $22.5 million, or about $1,592 per square foot, before it was pulled off market and ultimately closed under construction at the lower $19 million figure, Homie’s listing history shows. That $3.5 million gap reflects how negotiations tend to play out in this tier of the market, where buyers trade away control over finishing touches in exchange for a price break…