Fasten your seatbelt, it’s going to be a wild ride in real estate this spring. The ink is not yet dry on our post detailing 5911 Glendora, Howard and Cindy Rachofsky’s family home that just hit the market. Now I’ve discovered that, while it is NOT in MLS, Douglas Newby is indeed marketing the 25 acre estate of Thomas O. and Cinda Hicks on Walnut Hill Lane and Hollow Way Road.

For years, the Crespi Estate has headed every list of the Most Expensive Home in Dallas. But, having been inside it, I can tell you this home is about so much more than money. There was speculation when former President Bush bought his home on Daria that he wanted to be near the Hicks, and perhaps utilize their helicopter landing area. (Hicks does not have a concrete helicopter pad, I learned at the time, but he does have the lighting.) The Hicks have a rear auto estate entrance just a few feet from the Dallas North Tollway service road. The Hicks family hosted numerous Mayflower Estates homeowners meetings introducing the Bushes to the neighborhood.

Crespi Estate Photo Sunroom

According to Doug, Mr. and Mrs. Hicks acquired the Crespi estate 16 years ago and Cinda spent five to ten years completing the architectural vision of the original architect, Maurice Fatio. She brought in international architect Peter Marino from New York and worked painstakingly on the home, refining and honoring Fatio’s proportions and architecture. I have heard from knowledgeable sources they spent close to $100 million on the expansion and remodel.  The Hicks have raised six children in the house and are now empty nesters in a home DCAD sizes up at 28,996 square feet for the main structure, 6300 for the guest house, and 7200 for the pool house. That might be a little large for two people, eh? Tom Hicks is the former chairman of Hicks, Muse, Tate & Furst, an investment banking firm, and he once owned the Stars and the Rangers. Hicks sold the Rangers for around $590 million in 2010. He recently just this January settled disputes with Texas Rangers Baseball Partners administrator Alan Jacobs. He is now the chairman of Hicks Holdings and currently making several exciting business acquisitions.

Doug says the dirt in Mayflower Estates is valued at $2 million per acre, which would be about $50 million, and the residence with pool house, guest house and main house comprises 42,500 square feet for a grand total of $85,000,000. 

 Crespi Estate Entry

So it appears it will take $135,000,000 to buy The Crespi Estate. Did I get all those zeros right? This makes Mt. Vernon look like a Blue Light Special.

But really, $135 million is nothing for the most refined, sophisticated residence in Texas on an expansive 25 acre estate that is merely 8 minutes from downtown Dallas, the Arts District, 40 minutes from D/FW or really, what matters, 15 from your private jet hangar at Love Field. I have been in this home and seen what the Hicks have created and it would be impossible, impossible to replicate it.  A new owner could even add a stable: one horse per acre in Preston Hollow!

As Doug described it so aptly in this post for The Huffington Post:

“A winding private drive descends to the home beautifully placed in front of a creek flowing across the 25-acre estate property. It is majestic, dignified and graceful. The home is also warm and fun. The design exudes elegance and the architecture, a subtle power. The architectural massing of the main house, guest house and pool house convey a home that is grand yet serves primarily as a place for a family to live. The sensibility for the past is blended skillfully with the technology and resources of the present, presenting visual continuity. The estate owners honored the original family, architecture and history of the home with an inspired approach — one that creates the impression that the home has not been renovated or expanded, but truly and magnificently completed.

To be continued, stay very tuned…

Oh and where did all the pictures go? Gracious Doug Newby kindly let me keep them posted for a few days, but to see more, and I mean way more, click right here over to his site.


 

One of my favorite neighborhoods in Dallas, I used to live about a block from 5549 Falls from 1990 to 2000. This is a very, very smart little nook of Preston Hollow. I say little only because the lots here are hefty one-half acre lots surrounded by sprawling estates of one acre plus. Small only by comparison, and you get the same huge, chunky, leafy trees. To the east you have the Dallas North Tollroad, which should help you shave a few pennies off your property taxes. But to the west are the multi-million dollar estates of Kelcy Warren and John Eagle and countless other Dallas movers and shakers. And here’s why I LOVE this little secret: you have a half acre lot, which is plenty, but a bit cheaper than owning several Preston Hollow acres, aka the spread. What I am saying is you get an estate area address for cheap cheap cheap. Go ahead, flaunt that addy!

So here we are: .624-acre lot loaded with all the details: hand-scraped, wide-plank hardwoods plus stone flooring with detailed motif. One thing this home did oh so right: the sprawling, wooded back yard is the focal point of the home upon entering. After all, you are paying for premium dirt here. The grounds include a beautiful pool and ample green space. Then there is the  living room with a beamed ceiling and a Citizen Kane fireplace. Right off the entry is the spacious dining room viewing the front grounds, left is a serious library. The kitchen has granite countertops, custom cherry cabinetry, cabinet-style appliances and a stainless-steel Wolf six-burner gas range. Of course this opens to the den, located in the rear of the home, with walls of windows overlooking the pool. The den also has another large fireplace surrounded by built-ins and plentiful bookcases. Master is on the first floor with a suite: fireplace, built-in entertaining cabs, plus a sitting area. The master bath makes it hard, if not impossible, to ever leave home: It’s a huge deal with double vanities (copper sinks!), huge jetted tub, a separate shower then a Manhattan-sized closet with built ins. Upstairs you will find five beautiful bedroom suites plus game/exercise room. The pool, spa and grounds are protected by a MosquitoNix system; lighting by Lentz, with plenty of green space. and a beautiful pool and spa. Really, I know it seems like a lot, but we are millionaires on Monday and can spend almost anything we want on a home. This one is listed at $3,395,000 and I just think that is a very fair price for all you are getting here. Please comment if you feel otherwise!