By Libertina Brandt
In Paradise Valley, Ariz., a home built into the side of Mummy Mountain is hitting the market for $27.5 million.
The roughly 5.2-acre, gated property is among the most expensive for sale in the affluent town, according to listing agent Joan Levinson with Realty One Group.
The three-bedroom home is being sold by Steve Sanghi and his wife, Maria Sanghi. Steve is president and CEO of Microchip Technology Inc., which is based in the nearby city of Chandler. He also serves on the board of Intel.
The Sanghis bought the property in 2017 for $15.65 million, according to property records. Steve said they were drawn to its modern and sleek architecture. Spanning approximately 14,200 square feet, the circa-2011 home was designed by Swaback Architect & Planners, a firm founded by architect Vernon Swaback, who was an apprentice to Frank Lloyd Wright.
Since the home is set into the mountainside, boulders form a natural backdrop for many of its rooms. The property has views of Camelback Mountain, downtown Phoenix and the Paradise Valley Country Club golf course.
There is a billiard room with a bar, two offices and a spa area with a gym, a massage room and wet and dry saunas, as well as a 15-car garage with an indoor lounge area.
Beyond routine maintenance, the Sanghis have preserved the home's structure to honor its design. Steve said he and Maria, who have two adult children, have decided to sell the home because they want to downsize in the area.
The town of Paradise Valley is in the most expensive zip code in Arizona, according to Levinson. The town's most expensive home sale traded hands in 2025 for $33.5 million, she said.
Last month, Levinson sold three Paradise Valley estates in a single week, with sale prices reaching $20.9 million, $20 million, and $15.75 million.
(END) Dow Jones Newswires
April 01, 2026 14:00 ET (18:00 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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