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Castle In Phoenix Sells For $1.5 Million

RENEE MONTAGNE, HOST:

Good morning. I'm Renee Montagne. Among the many foreclosed properties in Phoenix, a castle on Camelback Mountain would have seemed a tough sale. But Robert Pazderka saw an opportunity when he paid a million and a half dollars for a faux Moorish castle. Built in the 1960s, it has a dungeon, drawbridge and secret passages, though it is a bit of a fixer upper, needing millions in renovations. The new owner hopes it will pay off in PR for his business making armored vehicles. It's MORNING EDITION. Transcript provided by NPR, Copyright NPR.