1505 Elm

There’s a new downtown property on the market that’s got the kind of luxury amenities you usually see on Turtle Creek, but for under $300K: a sixth-floor corner unit on Elm Street at North Akard with a stellar view, modern interior, and prime location.

The condo at 1505 Elm St. #604 is pretty much everything I imagine people desire in a downtown Dallas address: big, open floorplans; high-end appliances; awesome amenities; and easy access a DART light rail station across the street.

This 1-1.5 with a study is 1,482 square feet, listed by Gregory Iker at Dave Perry-Miller Real Estate for $235,000.

1505 Elm Y

Dallas architect George Dahl designed 1505 Elm, which was constructed in 1957 and served as Dallas Federal Savings bank for years before being abandoned. In 2002, it was part of the first wave of residential redevelopment in downtown Dallas, bringing 68 units to the market.

They didn’t cut corners in this building: it has an incredible level of amenities, which helps explain the whopping HOA fees of $1,001 per month. But those fees earn access to a 24-hour concierge, valet parking for residents and guests, a pool, sauna, private dog run, fitness center, Moroccan-style party room with billiard table and caterer’s kitchen, three high-speed elevators, and a super cool former bank vault that is now a wine cellar with a large dining table and individual wine lockers for residents. There’s even access to downtown tunnel system through lobby.

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As we wrote about last year, the intersection of Preston and Northwest Highway is one of the highest-profile in all of North Dallas (and probably one of the highest-valued, too).

It’s not just the current real estate prices of Preston Hollow that give this area its prestige—the intersection has a fascinating history.

The northeast quadrant has a wavy, pink brick wall, and to live “behind the pink wall” was an address with serious social cachet in midcentury Dallas (legend has it Ebby Halliday herself coined the phrase).

The pink wall was built in 1954 by developer Hal Anderson in front of his first apartments; he later built the high-rise Athena and Preston Tower apartments next door. Parts of the wall might be a bit faded now, but to live here in the 1950s or 1960s was to have arrived. (You’ll likely get raised eyebrows if you talk about the real estate “behind the pink wall” to a young person, but older folks will remember the phrase well.)

Today’s Tuesday Two Hundred takes us one block north to 6126 Averill Way #208W, located in the Imperial House Condominiums, built around the same time, 1964, by Sid and Ada Lynn, with George Dahl as architect. These charming French-style condos have a fanciful, throwback feel, with a grand, circular staircase, domed ceiling, and retro metalwork in the entryway. Can’t you picture Betty Draper from Mad Men gliding down the stairs in kitten heels on her way to cocktail hour?

6126 Averill

Unit 208W is located on the second floor (there is an elevator in the building, as well as those stairs), a two-bedroom, three-bathroom condo with a roomy 2,134 square feet. It is newly listed by Peter Livingston at Realty One Group Partners for $239,000, or $112 a square foot.

Unit 208W has plenty to offer a buyer, but parts of it are a bit dated need freshening. A similar size, but renovated, unit in Imperial House sold last November for $345,000, or $139 a square foot. If that sale tells you anything, it’s that you could make the upgrades on this unit and see a return on your investment. Jump to read more and see photos!

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Or, here’s why we like it when movies are made in Dallas.

First: what’s not to like about 1505 Elm in downtown Dallas? The .59 per square foot home association dues? That it was designed by George Dahl, built in 1957 as Dallas Federal Savings, once belonged to the Chamber of Commerce, was snapped up by Lazarus Property Co. who purchased the building in 2001 and turned it into 67 luxurious condominium units? There’s underground and valet parking, theater, fitness center, sauna, wine cellar, a catering kitchen, exterior amenities like a pool, dog run, and exterior cooking pavilion, and 24 hour valet and concierge. Enough good stuff that when actor John Voight was in Dallas recently to film the pilot for Midland, he leased a two bedroom, two and a half bath unit at 1505 Elm for about $3,000. (Can you imagine what that would have cost in NYC or LA?) Not only did he lease it, he furnished it complete with big gorgeous blown up photos of his grandchildren, yes, Angelina’s babies.

As Worth Ross broker Steve Shepherd told me today, originally Voight was going to lease a ranch just outside of town during the shooting. But Steve — or “Stevie” as Voight called him — showed him a host of two-bedroom units at 1505 Elm Luxury High Rise Residences and he was impressed. Impressed with the building, with the neighborhood — you can see the Joule pool and Charlie Palmers is only steps away, ditto Iron Cactus and more. “It reminds me of White Plains, New York, where I grew up,” Voight told Steve. “It’s a community around here and I like that a whole lot.”

He almost got the ranch, but changed his mind at the very end to lease the unit on the 18th floor. Steve’s sister-in-law helped furnish it, Voight being very traditional man. (Note: some of the furnishings came from the Mansion on Turtle Creek after the posh hotel’s recent re-do.) All the artwork (save for a few large maps)is enlarged photos of the children, one positioned so Voight could kiss her little angel lips easily every night.

Interiors, next post.