We’ve been blogging about it for weeks now, and I have to give credit where credit is due: Steve Brown at The Dallas Morning News was first to publish that Andy Beal was interested in buying Walnut Place, the former Crespi Estate on Walnut Hill Lane that was listed by Allie Beth Allman and David Nichols for $100 million. I had heard Beal was going back and forth between Walnut Place and the beautiful Crow mansion at 4500 Preston Road. We know the Hicks are getting close to finding a new home in Dallas, and Allie Beth Allman tells me the 35,275-square-foot (67,689 including terraces) estate closed officially this morning when papers were signed. And Beal paid for the home in cash. She will not disclose the sales price, nor comment on my incessant questions about the Crow estate or sales price, but she did tell me that Andy Beal bought all of the estate, all 25.25 acres, and he plans to keep it intact.
“He doesn’t plan to split it,” she told me.
Bravo Andy Beal!
Allie Beth Allman is an amazing agent, and I had to ask her, how does she feel after pulling off the largest sale in Texas history — actually, in Texas and Oklahoma and probably in the whole southwest U.S. history?
“I don’t feel any different,” she said. “I went to back to work immediately. I had an agent calling me during the closing about another property.”
And while she could not divulge what the final selling price was, she did say that both parties were thrilled.
“The Hicks are thrilled, the buyers are thrilled,” said Allie Beth. “And you know I’m not happy if it’s not that way at every single closing, regardless of the sales price. We are talking about someone’s home and they should not just be happy but be thrilled with the entire process.”
If they are not, she says, then I haven’t done my job. And Allie Beth Allman ALWAYS does her job.
As for the Crow estate, she has a listing agreement and it is on the market and available for $46 million. It was off the market for the holidays, she told me.
I have to laugh at those who said, and some who actually wrote, that this estate would never sell. It took David and Allie Beth only 9 months to sell a $100 million property.
Until the Waggoner Ranch closes, this is the largest real estate sale in Texas history, and certainly will be the largest in Dallas history for years to come. The last largest sale in Dallas history was 5323 Park Lane, when Kelcy Warren bought the nine plus acre estate of Joyce and Larry Lacerte, designed and built by Cole Smith, decorated by Sherry Hayslip, and listed with Ralph Randall at Ebby Halliday. 5323 Park Lane was originally listed in 2008 for $45 million, then lowered to just under $40 million as the nation’s real estate bubble went bust. According to my sources, it sold for about $29 million-ish, and sharp Kelsey even asked for an outside appraisal. His buyer’s agent was Rosie Waters of Allie Beth Allman and Associates, who is married to football legend Charlie Waters, who works (or worked at the time) for Mr. Warren.
Dallas real estate — I LOVE IT! Jump for the story on Walnut Place, complete with photos, that we ran back in March of this year. (more…)