Historic 27,000 Sq. Ft. Crespi-Hicks Estate Sells at Auction for $36.2M, Prev. $135M

10000 Hollow Way Road, Dallas, Texas, United States, 75229

One of the most beautiful homes in Dallas has found a new buyer after being auctioned with Concierge Auctions. 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 plans to preserve the original home and develop luxury homes on the 25.25 acre estate. It was previously owned by businessman and former Texas Rangers owner Tom Hicks. The property had recently been on the market 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.  In addition to the main house there is also a two-storey 3,300 square foot guest house and a three-storey 4,800 square foot pool house. The historic estate offers over 27,000 square feet of living space with 10 bedrooms and 17 bathrooms on a 25.25 acre lot. Highlights include a 3,000 square foot master wing, hardwood paneling dating to the 1820s, 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! It was recently on the market with Allie Beth Allman for $48,900,000 who originally sold the estate to Tom Hicks, and then sold the property to Andy Beal.