A 20-unit luxury condominium complex in Scottsdale quietly changed hands in mid-January for $10,275,000, just shy of $10.3 million. On a per-unit basis, that pencils out to roughly $513,750 for each residence. The deal, involving the Eclipse Luxury Condominiums, ranks as one of the highest per-unit prices ever recorded for a Phoenix-area multifamily property of this size. The project sits just south of Old Town Scottsdale and is packed with unusually large two- and three-bedroom homes.
Deal details
According to a press release from Kidder Mathews, the 37,236-square-foot property at 1401 N. Granite Reef Road sold for $10,275,000. The buyer is Aspen Grove Circle Lofts, LLC, a Kansas City-based syndication led by Mike O’Hara. The firm’s Abert-Zinn Multifamily Team represented the seller, Caliber Companies, in the marketing and sale of the asset. Public sales records compiled by Realtor.com show the transfer was recorded on Jan. 16, 2026.
Record per-unit pricing
As reported by CoStar, the trade set a record per-unit price for a Phoenix-area condominium transaction in this size bracket. “Eclipse stood out for its scale, design, and location,” Kidder Mathews broker Bret Zinn said. His colleague Karl Abert added, “This sale demonstrates how distinctive assets continue to command premium pricing when positioned correctly.” According to the brokers, the listing pulled in more than 10 offers in a tight bidding field.
Property background
Caliber Companies notes that it originally acquired the site for roughly $1 million, then developed it as a 20-unit, low-energy townhome community featuring solar panels, hybrid water heaters, and upscale finishes. Individual residences at Eclipse range from about 1,700 square feet to more than 2,000 square feet, with the community totaling approximately 37,236 square feet. That large-unit mix, combined with walking-distance proximity to Old Town Scottsdale and ASU SkySong, helped drive investor interest.
Market takeaway
The Eclipse deal highlights a broader pattern of investors paying up for compact, well-located multifamily properties in constrained submarkets, especially when there is a clear condo-conversion angle. Analysts and brokers following the Phoenix market flagged the sale as a sign of ongoing demand in Old Town Scottsdale, according to CoStar. For the Kansas City-led buyer group, the purchase is a calculated wager on scarcity, along with the potential to push rents higher or one day sell the residences individually.
