Acre lot in Phoenix's Arcadia neighborhood sells for record-breaking $4.75M

Arcadia lot.jpg
Posted at 8:38 AM, Apr 01, 2022
and last updated 2022-04-01 11:42:43-04

A 1.05-acre parcel of vacant land in the Arcadia area of Phoenix originally owned by the Frank Lloyd Wright family sold on Thursday for a record-breaking $4.75 million.

The parcel at 5226 E. Exeter Blvd. is adjacent to the historic David and Gladys Wright house, which was designed by Frank Lloyd Wright in the mid-1950s.

A home on the now-vacant parcel was designed by Lloyd Wright, David's brother, for use by the third generation of Wrights. Eventually Zach Rawlings bought the property for $2.38 million in 2012. With plans to develop a David and Gladys Wright House museum, he had the home at 5226 E. Exeter razed.

His plans for a museum were thwarted by neighbors who vehemently opposed the idea, and he eventually walked away from his dream. That property, along with nearby parcels, ended up changing hands over the years.

Read more of this story from the Business Journal.