$7.5 Million Custom-Built Home Sold in One of The Priciest Deals on Lake Norman in North Carolina

A new-construction custom residence on North Carolina’s Lake Norman has just sold for $7.5 million in one of the priciest deals ever recorded on the huge waterway.

At $1,135.68 per square foot, the deal also marks the most expensive sale per square foot recorded in Mooresville, and is tied for the most-expensive home ever sold in the town, according to the Multiple Listing Service and listing agent Ben Bowen of Premier Sotheby’s International Realty.

The property, which was listed for only a month, was bought on Dec. 6 by a trust, according to property records. The sellers, developer Willy Ayyad and his wife, Alchera, bought the site in 2021 for $1.2 million, according to property records, and tore down the existing house to build a family home.

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The Ayyads, who are from San Diego, fell in love with Lake Norman, the state’s largest man-made body of freshwater, when their son was attending High Point University in North Carolina.

“It’s not a spec or development house,” said Willy Ayyad, who is 63 and getting ready to retire. “We didn’t plan on selling it, but we pivoted and decided to buy a house in Lake Tahoe instead.”

He said he’s not surprised the stone house, which is 6,604 square feet, set sales records because “everything is top-notch—my wife and I picked out all the patterns, and everything was choreographed and showcased. The designer was exceptional, Ben Bowen and his team brought out the best of what we built and it’s a beautiful piece of property.”

Bowen said the Southern California style of the house, which was under construction for about a year and a half and is named Paradise on Points End, “is unique for this market.”

The four-bedroom, 4.5-bathroom house, which merges indoor and outdoor spaces, has an open-concept floor plan and floor-to-ceiling windows that provide lake views from every room.

The glass front doors fold back flat, creating an 8-foot entrance; the second-floor games room opens to a terrace; the infinity-pool deck, which features a spa and firepit, is elevated to the level of the living space; the family room doors retract into the walls; and the three guest bedrooms have balconies with lake views.

“The house is modern but livable,” Bowen said. “There are sunset views, and there’s a big water oak tree that’s spectacular.”

He added that the property, which covers more than three-quarters of an acre, has two private beaches, a newly rebuilt dock and a 586-square-foot separate building that’s used as a fitness lounge with glass garage doors on the front and back that roll up, opening it up to the landscape.

“The fitness lounge is a unique feature,” he said. “You are no longer allowed to build anything within 50 feet of the lake. This was grandfathered in.”

Mooresville, which is 30 minutes from Charlotte, is divided into the lake side and town side.

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The downtown, Bowen said, is filled with “quaint shops and restaurants—it looks like a Norman Rockwell [painting]. The town is mostly primary homes, but it’s starting to be a high-end second-home option.”

The buyers could not be reached for comment.