Legendary actress Diane Keaton’s home brings highest price for Downtown 85701 zip code

Tucson, Ariz. – The sale of Diane Keaton’s former Barrio Viejo home, located on South Convent Ave. in Tucson set a new record for home sales in the 85701 downtown corridor, selling for $2.2 million.

The classic and re-envisioned 4,572-square-foot Sonoran Rowhouse features four bedrooms, four bathrooms, with a guest house, pool and cabana. Gray St. Onge had the distinguished honor of representing the buyer in the purchase of the Convent Ave property. Jameson Gray and McKenna St. Onge of Gray St. Onge represented the buyer, while Nick and Kim Labriola of Tierra Antigua Realty represented the seller. With combined sales exceeding $60 million and three of the Top 10 sales of 2021, Gray and St. Onge had the unique opportunity to represent the buyer in this once in a lifetime sale.

“Mrs. Keaton is a legendary actress and interior designer in her own right, known for her quintessential design aesthetic and to be a part of this historic sale, was an absolute honor,” said Jameson Gray and McKenna St. Onge. “It was our pleasure to assist our clients in achieving this landmark sale in the downtown Barrio Viejo community.”

See “Architectural Digest” for additional details and photos to the original home purchase and remodel.

Gray St. Onge is an award winning Tucson real estate company, with over half a billion in closed sales, recognized for their commanding presence and market leadership, proprietary and innovative marketing strategies and ability to cultivate lasting client relationships. For more information, visit gsrealestategroupaz.com or contact Gray or St. Onge at 520.638.8730.



Institutional Property Advisors Closes Three Tucson Multifamily Asset Sales for $75.15 Million

TUCSON, Arizona – Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced today the sale of three multifamily properties in Tucson, Arizona. The assets sold for $75.15 million. They are Hampton Park, a 160-unit property built in 1973, San Mateo, a 254-unit asset completed in 1987, and Solano Springs, a 152-unit apartment complex constructed in 1982.

“Hampton Park benefits from southeast Tucson’s highly diversified employment sector, access to the Broadway retail corridor, and 19.4% rent growth projections over the next 12 months,” explained Hamid Panahi, IPA first vice president. “San Mateo is situated near Interstate 10 access with proximity to Downtown Tucson’s burgeoning dining and cultural scene, and West Tucson, where rent growth is projected to be 17.2% over the next 12 months. Solano Springs’s upside is correlated to the Drexel Heights/Sahuarita submarket’s 18.5% projected increase in market rents over the next 12 months, direct Interstate 19 access for Tucson’s e-commerce boom, the reemerging southern commerce flow in and out of Mexico, and Spectrum Mall’s 1.1 million square feet of dining and retail options.”

Panahi and IPA’s Steve Gebing and Cliff David represented the seller, Monarch Investment and Management Group, and procured the buyer, Bridge Investment Group.

“Abundant capital investments from existing Tucson multifamily investors, as well as the addition of new market entrants, are projected to continue in the future,” Panahi continued. “This is due in large part to substantial rent growth supported by positive supply/demand metrics, net in-migration from coastal and midwestern cities, corporate expansion/relocations, and a rapidly growing, competitive and expensive single-family housing market.”



NAI Horizon negotiates 34-acre land sale in Mayer, Arizona

PHOENIX, ARIZONA – NAI Horizon represented the seller in the disposition of 34 acres in Mayer, Arizona, upon which the buyer plans to build rental cabins.

NAI Horizon Senior Vice President John Filli and Vice President Christopher Lewis represented LAdventure LLC, Series BB, a Delaware limited liability company from Boonsboro, Maryland.

The land, which is approximately 15 miles southeast of Prescott, Arizona, sits at an elevation of 6,440 feet and is in close proximity to Mount Union, elevation 7,979 feet. The deal fetched $165,000.

The site also includes two patented gold mines. A patented mining claim is one for which the federal government has passed its title to the claimant, giving him or her exclusive title to the locatable minerals and, in most cases, the surface and all resources.

“Having to deal with the impact of the site’s 6,440-foot altitude, a very dense Ponderosa Pine forest, snow-covered access roads (for up to 7 months of the year), and a very remote location, made the close of escrow considerably more difficult than was originally anticipated,” Filli said. “Nonetheless, it is a pristine parcel of land ideal for cabins in the high country.”

The buyer, CHR Revocable Trust, dated September 30, 2018 of Phoenix, was represented by Tony Bagneschi with Insight Land & Investments.