Phoenix Suns Owner Robert Sarver Sells Arizona Estate for $19.5M

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While his team has been beleaguered on the court, Phoenix Suns owner Robert Sarver has shown he has some game in the real estate market. He recently sold his Paradise Valley, AZ, home for a whopping $19.5 million, a record for the state.

“While I will not comment on my client specifically, I will say it is one of the greatest honors of my career to list and sell this home, achieving top dollar for my clients,” listing agent Chris Karas of Launch Real Estate said in a press statement. “To date, this is the highest closed real estate transaction, on the MLS, in the history of Arizona.”

Sarver and his wife, Penny Sanders, purchased the estate in 2006 for $6.2 million, real estate records show. They expanded the 5-acre property, which includes a pool, spa, and indoor sport court.

The 28,043 square feet of living space includes seven bedrooms and 11 bathrooms. Also included in the sale is a two-bedroom guesthouse, which can be connected to the main house or locked off. 

The interiors include formal dining and living areas with reclaimed wood beams, and a chef’s kitchen overlooks a family room with a bar. Two walls of glass open to the outdoor spaces, providing seamless indoor-outdoor living. 

The master suite comes with a private exercise studio, sitting room, dual closets, a salon, and private spa with an outdoor shower. 

Other upscale amenities include a home theater, office, game room, and casual dining area. 

The outdoor space includes a pool  with a covered ramada, grassy lawns, and a playing field. 

Sarver co-founded Southwest Value Partners, a real estate development company, and owns the Suns as well as the Spanish soccer team RCD Mallorca.

He purchased the Suns for $401 million in 2004. The team hasn’t made the NBA playoffs since 2010 and has finished with a record above .500 just once in the past nine seasons.

Chris Karas with Launch Real Estate Buyer represented the seller. Walt Danley with Walt Danley Realty represented the buyer. 

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