Historic 27,000 Sq. Ft. Crespi-Hicks Estate Lists in Dallas, TX for $38.5M
5619 Walnut Hill Lane, Dallas, Texas, United States, 75229
One of the most beautiful homes in Dallas is back on the market after selling at auction in early 2018. According to Dallas News, the 27,000 square foot home sold for $36,200,000 to local developer Mehrdad Moayedi, CEO of Centurion American Development Group, who planned to preserve the original home and develop luxury homes on the 25.25 acre estate. It appears he’s made true to his word, the sprawling mansion has just been listed on a smaller 14.47 acre property for $38,500,000. The home has also had an address change. It was previously owned by businessman and former Texas Rangers owner Tom Hicks. The original 25.25 acre property had been on the market in 2017 for $48,900,000 after being quietly listed in early 2013 for $135,000,000 and officially listed for $100,000,000 in 2015, according to Curbed. According to Dallas News it sold for a record price at the beginning of 2016 to Andy Beal. It’s called Walnut Place, better known as the Crespi-Hicks Estate, and was designed by Maurice Fatio in 1939 for Italian Count Pio Crespi and his wife Florence. From 2000–2003 a meticulous restoration and expansion took 250 craftsmen to complete—including renowned Dallas builder John Sebastian, noted New York architect, and interior designer Peter Marino and London landscape architect Arabella Lennox-Boyd. The height of the home is said to exceed current municipal height restrictions, this allows for 14′ ceilings on the first floor, and 12′ ceilings on the second. Highlights include a 3,000 square foot master wing, hardwood paneling dating to the 1820s, 10 bedrooms & 17 bathrooms, original wrought-iron staircase, a 19 seat theatre and mature formal landscaping including magnolia trees. While it’s unknown what the property sold for in early 2016, the $36,200,000 sale price at the auction is said to have broken records in the auction world! The 14.47 acre estate is currently on the market for $38,500,000 with Allie Beth Allman. Allman also sold the property to Tom Hicks as well as Andy Beal. Click here to see old listing photos.