4500 Preston Rd extSo it was that very first asset purchase of apartments in Waco, Texas, little old Waco, that ultimately landed Beal the keys to the two most expensive homes in Dallas.



Looking at my most favorite site in the whole wide world, the Dallas Central Appraisal District — you know I scan it 24/7 — I see that the estate of the late Margaret Crow at 4500 Preston Road has changed ownership. It is now owned by “The Trust,” which has an address of 6000 Legacy Drive. The deed transfer took place on February 26, last month.

6000 Legacy Drive? Why, that’s the corporate offices of Beal Bank!  As in Andy Beal, the wealthiest man in Dallas according to Forbes. The billionaire who just snapped up the Hicks estate, the most expensive home in Dallas and likely Texas. I had been told he was shopping both properties and, just like when I cannot choose between two pairs of Jimmy Choos or Louboutins, I think Beal just bought BOTH of them! Two of the most amazing properties in Dallas!

The appraised value of the Crow home, which had been listed with Allie Beth Allman, is $24,265,480. The listing expired November 17, 2015. Last asking price was $46,000,000 for 6.13 acres in the prime part of Highland Park, with a 9500 plus square foot home of the utmost elegance.

In January, Andy Beal bought the $100 million priced Hicks-Crespi-Walnut Place estate at 10000 Hollow Way Road. The Hicks property is now owned by “The Daria Drive Trust” under the name of Jacob Cherner, founder and chief executive at CSG Investments at… 6000 Legacy Drive in Plano. The appraised value of the former Hicks estate, by the way, is now $41,274,000 on the 20 acre plot of land, then $3,082,500 on 2.466 acres. Which means Beal likely did not pay $100,000,000 for the whole estate (are those enough zeros?).

I LOVE the way this man buys dirt!

Map of 6000 Legacy Dr, Plano, TX 75024

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It was back in January of 2013 that Tom and Cinda Hicks first shocked us by listing their 25 acre Preston Hollow estate, also known as the Crespi Estate, for $135 million with Doug Newby. That price tag sure garnered a lot of attention from the folks at places like Forbes, the Wall Street Journal, and pretty much everywhere. Lots of attention for being the priciest house in the US for awhile, but it never garnered any buyers. Newby always seemed to have the estate front and center on Private Air Luxury Homes Magazine. He even lowered the price to $98 million. Rumors were circulating for weeks before and after Christmas that the listing was changing hands. I know the Hicks spoke to Briggs-Freeman Sotheby’s as well as other top agents in town. The pricing advice on the home from these other agents was not accepted. Dallas is a hot market, and the Hicks want to sell their estate to downsize, enjoy their other homes, and not be so tied down to the annoying management of 25 acres.  (more…)

Crespi Estate extComparison shopping. I’m checking with my friends at Realtor.com, but looking over this list from last April of 2012 compiled by the good folks at Forbes.com, and I mean really good folks because Morgan Brennan gave me lots of link love last week, it looks like that $135 million price tag for the Hicks-Crespi Estate is the new high for not just Dallas real estate, but U.S. real estate.

And you know what? It could get higher.

Woodside EstateMy pals at AOL Real Estate say… that SF LUXE reports…  that the Woodside Estate in Woodside, CA sold for the record-breaking price of $117,500,000, making it the most expensive private residence in California, and possibly the second-highest price paid for a home in the United States. SF Luxe says the transaction took place on November 27, 2012, and the home was not publicly listed, though Forbes said it was listed last April at $85 million. (The Hicks Crespi Estate is not in MLS.) That means it sold for MORE than it was listed for. Bigger than the Crespi property at 92 acres, it was listed with Mary and Brent Gullixson, and previously owned by Tully Friedman, founder of the San Francisco-based investment firm, Friedman Fleischer and Lowe LLC. The Woodside is a masterpiece of Neoclassical design with 360-degree views of the nearby Woodside Mountains. It was designed by Virginia-based architect Allan Greenberg, who described the house

“as sitting in “an elaborate hilltop garden”, and noted that, in the Palladian tradition, “it is planned around hyphens and dependencies and features a double volume, elliptical garden room.”

What are hyphens and dependencies, anyone know?Woodside Mansion 2

In L.A., there’s the Fleur de Lys Mansion, 35,000 square feet and 12 bedrooms listed at $125 million. Did you know that was actually built by a Texan, David Saperstein? Last I heard, he had divorced his wife and the mansion is still on the market. Still at $125M. Fleur de Lys

Marks MalibuLet’s go to Malibu, shall we? (Wheels up!) The Wall Street Journal recently reported that billionaire investment manager Howard Marks unloaded his 9.5-acre Malibu estate for  $75 million, and a Russian billionaire couple were the buyers.

What if a Russian billionaire buys the Hicks Crespi? Whole new theme possibilities for Crystal Charity, eh?

That home was also not formally listed but quietly shopped for $125 million, and is one of the largest pieces of oceanfront property in Malibu. The main house is about 15,000 square feet, with eight bedrooms and 14 bathrooms, plus two guesthouses and a gym.

The seller, a Howard Marks, was chairman of Oaktree Capital Management, and his wife Nancy renovated the property (like Cinda did) over a seven-year period using Michael Smith, the same designer who redid the White House Oval Office a few years ago.

In spring of 2011, a Russian billionaire investor paid $100 million for a French chateau-style mansion in Los Altos Hills in Silicon Valley, on the Peninsula of northern Cali near San Francisco. At the time, that was highest known price paid for a single-family home in the U.S. The home was 25,500-square-feet in this stunning, climate perfect area.

Down in South Beach, there is Casa Casuarina, Miami, FL where Versace once lived for $125 million but a mere 23,400-square feet, and ten fabulous bedrooms like this one. We can see why Versace loved it so much.Casa Casuarina

The CitySpire Penthouse, in New York, NY, is listed at $100 million for 8,000 pricey square feet. The nerve.City Spire NYC

Naturally, there are several pricey condos in Manhattan, including shoe heiress & songwriter Denise Rich’s New York City penthouse apartment. Asking: $65 million. I had no idea she was a shoe heiress, makes me love her more. Her penthouse includes:

“…a multimillion dollar art collection that includes an Andy Warhol painting of Marilyn Monroe and a Roy Lichtenstein sculpture grace the grand parlor, while the floor-to-ceiling windows offer surreal views of Central Park below. Occupying the top two floors of Fifth Avenue’s white-glove Parc Cinq cooperative, the 12,000-square foot penthouse boasts seven bedrooms, 11 bathrooms, three kitchens, a wood-paneled library with wet bar and staff quarters. The master bedroom suite has a movie projector, a fireplace, and his-and-hers bathroom suites. The huge “hers” closet has jewelry safes tucked behind mirrors and a wall equipped for shoes that opens to expose a second hidden space storing more Manolo Blahniks.”

Unreal.

The Beverly HouseOf course you would expect a whopper of an expensive home in Beverly Hills, right? Try the Beverly House, Beverly Hills, CA listed at $95 million or to lease for $600,000 a month. I know, who would pay $600,000 a month to lease a home? The Beverly House is slightly larger than the Crespi at 50,000-plus square feet.

Hana RanchI did not realize the Hana Ranch in beautiful Hana, HI is for sale at $55 million, and it’s only 4,500 acres, but has beach and waterfalls on Maui.

It all sounds fabulous, but I still prefer the Hicks Crespi Estate: 25 plus acres, almost 50,000 square feet and the best location of them all: Dallas, Texas.