Mehrdad Moayedi Buys the Phil Romano Estate on Strait Lane

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10660 Strait Lane overviewThe Statler Hilton, The Stoneleigh, and more than 40 residential developments in North Texas, Austin, Houston and San Antonio, are not the only properties owned by developer Mehrdad Moaydi and his vast land-snatching Centurion Development Company.

Yesterday, Mehrdad closed on Phil Romano’s gorgeous 10660 Strait Lane that has been on the market since about 2004, most of that time with Allie Beth Allman agent extraordinaire Doris Jacobs. The spread was originally listed for $17.5 million, but had been reduced to $10 million. It’s definitely a milestone for the man who started his development company in the 1980’s and learned the construction business moving dirt, pouring and laying concrete. 

Phil Romano, of course, is best known as the creator of Fuddrucker’s and Romano’s Macaroni Grill, and is also leading the development of the rapidly growing Trinity Groves.

Mehrdad’s new 14,748-square-foot home is massive, and sits on close to 4.7 acres of land off Strait Lane. From a private lake and waterfalls, to a jogging trail, creek, tennis court and a resort-like pool and spa, this home has everything a multi-millionaire land baron could dream of and then some.

 

I always thought Romano’s was a sleeper property, nothing a good contractor cannot change and apparently that is exactly what Mehrdad plans to do.

Here’s what Mehrdad bought: besides a private lake, waterfalls, creek, a jogging trail, tennis court, resort-like pool and spa, he now has 8 bedrooms, 7 full and 4 half bathrooms (which is 11 commodes total!), 5 fireplaces, a 4 car garage, and a tremendous temperature controlled wine cellar. There is a long tree-lined driveway that ends in a large circular motor court, with a copper roof over all. The residence overlooks a small man-made lake complete with perpetual fountain. Besides all the resort features, the estate also includes a 1,204 square foot detached building designated as staff quarters. Completely necessary to house the crew he will need to take care of this spread. 

Phil Romano purchased the property in 2000 for $4,535,300, and built the home in 2001. 

Mama over at The Realestalker did not have anything nice to say about the Romano spread, NOT ONE THING:

Now children, Your Mama has looked hard at the photos of the interiors of this house. In fact, we have looked really damn HARD. We have tried and we have endeavored, but alas and with all do respect to the Romanos, we simply have nothing nice to say about what we see. Not. One. Thing.

Well, shame on him. Because as I said, I always thought this was a total sleeper, and worth every penny for the wine cellar alone. For those of you who wonder why Romano retained the house for so long, one reason was that he kept two precious Golden Retrievers there because they were used to the property. And of course, he was waiting for the right buyer.

“It’s about finding that right buyer,” Doris Jacobs said awhile back at one of the many functions she held at the Romano estate to market it. “This is a very unique property that has a gorgeous setting. You have almost five acres. At this price, it’s almost land-value.”

Mehrdad Moayedi is a master land buyer. When he pulls the trigger, that means the price is right.

 

Candy Evans, founder and publisher of CandysDirt.com, is one of the nation’s leading real estate reporters.

7 Comments

  1. Joanna England on June 12, 2014 at 12:26 pm

    Incredible! Congratulations, Doris! What a huge sale!

  2. Johnny Marocco on June 12, 2014 at 2:18 pm

    what a steal, I was invited to a LUXE Magazine party at the Ramono’s a few years ago and my favorite space in the estate was the commercial kitchen with a large family size booth in the middle of it. The party cabana across the lake was a nice addition as well. I look forward to Mehrdad’s house warming party soon.

  3. Allyson Aynesworth on June 12, 2014 at 6:30 pm

    CLEARLY, The Realestalker totally missed our closet!!!!! (and the sweet puppies!) @

    LOVE the grounds!!! (And he gets Owen with the deal! LOL)

    • Candy Evans on June 12, 2014 at 7:59 pm

      Allyson, we need to repost that video!

  4. Peter Fisher on June 12, 2014 at 11:26 pm

    Its a great property. Marketed and sold by the Wonderful Doris Jacobs. Sure Phil very happy today.

  5. Christopher Currie on June 13, 2014 at 5:39 am

    Candace I completely agree with you about the interior. It looks like something out of Scarface or something Pablo Escobar would have lived in. Very 80s Miami Vice drug dealer look. It’s a shame too and I suspect the interior is the real reason why it took so long to sell along with the inflated price and not that he was waiting for “the right buyer”. I’m wondering as I’m no expert how much if it will cost to gut the house and totally remodel it?

  6. Michael Farhood on June 13, 2014 at 11:05 am

    Candy, I am certainly not an expert, but the bones of this estate seem quite workable for the right
    architect and design team to utilize those bones to their maximum potential.
    The largest problem I see Ms. Jacobs was up against is that the room “themes” are rather bizarre. The rooster seems to have a significant importance to Mr.Romano as it appears some sort of the fowl’s likeness appears everywhere adding to the foul appearance. I find the industrial kitchen to be rather interesting.I’m sure the appliances are outdated but for the original construction to have taken place in
    2001 it was definitely ahead of trend. Mr. Romano seems to have purchased a case of the awful light fixture featured in pretty much every room photographed. The furnishings and “art”
    are far too personal and actually confusing as there is little continuity to the collection. Best described as “Loud” The placement of the very important Jackson Pollock does not allow the viewer to take in the work due to it’s placement behind a bronze orgy sculpture. I would love to know the inventory of the wine room have to say it is the only area without any visible issues.
    As for the house being a tear down I think that is rather extreme.
    Gutting the dated aspects and utilizing the original bone’s seem to be the most practical thing to do.
    It is very easy to see that practicality was never on Mr. Romano’s agenda. Just looking at the photo’s made me rather dizzy with nausea not excitement. I can only describe the interior furnishing’s as
    Bad Beach House meets Just Bad. Sea grass accent tables flanking black leather. The bed shown look’s to be from someones first apartment with plastic parsons tables as night tables. It’s all too confusing
    and maybe done on purpose. An estate of this size and location would have been staged like a movie set by a serious seller. Lead’s one to wonder if Mr.Romano was more concerned with the comfort of his animals then the sale of the estate. It has been a source of publicity for him for the past 10 years
    There is no telling what drama Ms.Jacobs was forced to put up with. We can all be sure she earned every dime she made and Congratulation’s to her. She is a credit to her profession and well deserves a nice long vacation. Gosh rich peoples problems are so much fun…..:-)

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