5801 E Finisterra, in Finisterra, a 3 level 11,874 sf masonry stucco behemoth is in contract this morning. Currently listed at $1,850,000 it first hit the market in late 08 (about a month after Lehman collapsed) at $3,887,000. Oh well, timing.
See it for yourself > 5801 E Finisterra, Tucson, AZ 85750
(listed by Long Realty) WOW!, so not everyone is scaling back.
But going back to 1995 there are just 2 sales in the Foothills of homes larger than this and they’re both for the same house – Joesler’s glorious Eleven Arches off Hacienda del Sol.
It sold in 2000 for $2,800,000 and was listed as having 16,367 sf on 19 acres. And before you knew it the 19 acres were carved up into +/- acre lots to make way for the fab new Eleven Arches subdivision - where modern behemoths were built and a few of which ended up as distress sales selling for pennies on the $$$$.
Then in 2005, having dispensed with much of that acreage, Eleven Arches sold again, this time for $2,200,000. But it was listed as having just 12,600 sf on 4.93 acres. We know what happened to the 14 acres, but where did the missing 4000 sf go. I have no idea. Probably a guest house or two were bulldozed to allow for a tidier lot split. ??
If you’re interested, there’s a long piece I wrote in 2008 on Joesler homes which wraps up with a look at Eleven Arches > Joesler and Murphey, they started it all, in the Tucson Foothills <
For last I've saved the mother of all Joesler's, Eleven Arches, a.k.a. Grace Mansion.
In 1937 Louise N. Grace, heiress to the The Grace Shipping Lines fortune, decided to build a 15,000 sq. ft. house in Tucson, just for herself. It was to be designed by Josias Joesler and built by John Murphey …
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