Grab Your Assets: One Week From Today The M Mansion Goes to Auction, With No Reserve

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M-Mansion-exteriorSeptember 26 is the day the earth will stand still for a beautifully, romantic house in far North Dallas called the M Mansion. I expect a moment of silence in Congress.

The French chateau-inspired M estate… with a touch of the gothic…  took seven years to complete.  It is on 3.29 wooded acres with a secret garden, fenced soccer field covered in turf, and stone waterfall pool with hidden grotto in the pool.  The home has nine bedrooms, nine baths, powders, offices and wine cellar on the lower level. The home actually has four levels. Built by Ventura Custom Homes, famous for their ground floor/basements: this one has bedrooms, the theater and the bar/wine cellar. There’s an outdoor pizza oven and bar and patio oasis with multiple gardens. There is a small fortune here in masonry. I love the cobblestones and stonework, which evoke a Granada- like feel from the very moment you drive up.

There are also several balconies, including the romantic portico where my son’s wedding took place September 22 of last year.M Mansion portico

The Mascolos poured their love into the building of this fine home. Tragically, Guy never got to live in it for very long The Mascolos have multiple homes, but for years they took great pleasure in leasing their love mansion out for weddings and anniversary parties, any celebration as long as it had to do with love and laughter. It was also leased to high profile celebs during Superbowl XLV.

The home has been listed with Rogers Healy for about a year, but real estate auctions are becoming more popular vehicles to sell homes with massive, concentrated media blitzes and then a crowd of vetted, interested buyers.

m mansion kitchen

If you need to know how auctions work, click right here.

The M Mansion is being auctioned without reserve by Concierge Auctions, the New York City-based firm that handled the auctioning of Champ d’Or in Hickory Creek and more recently, a Plano mansion in Kings Gate.

4450 North 40 Place is in an enclave of estates off Frankford Road, in between Preston and the tollway, north side. Very wooded, secluded and private. The area has a casual gate and security code to get in, so you get a almost a ranch-y feel. The mansion is owned by Flora Mascolo, widow of designer Guy Mascolo, one of the founders of the Toni & Guy Hair Salon chain, with U.S. operations based in Carrollton.

The 15,074-square-foot mansion has nine-bedrooms, 12-baths and is on 3.29 acres of land, and includes luxe amenities such as an outdoor oasis, multiple gardens (one secret), pool and spa and even an acrylic-fenced soccer field.

I do have a question for Concierge, which I’m sure they will answer: what if someone offers $100,000 or even $500,000 for the house… would the owners take it? Surely there must be some sort of reserve, no? Is it possible a $12 million dollar home could sell for a fraction of the asking price?

Stay tuned, stay very tuned because I am dialing my broker at this very minute…

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Candy Evans

A real estate muckraker, Candy Evans is one of the nation’s leading real estate reporters. She is also the North Texas real estate editor for Forbes.com, CultureMap Dallas, Modern Luxury Dallas, & the Katy Trail Weekly. Candy has written for Joel Kotkin’s The New Geography, Inman Real Estate News, plus a host of national sites. Constantly breaking celebrity real estate news, she scooped former president George W. Bush's Dallas home in 2008. She is the founder and publisher of her signature CandysDirt.com, and SecondShelters.com, devoted to the vacation home market. Her verticals have won many awards, including Best Blog by the venerable National Association of Real Estate Editors, one of the nation’s oldest and most prestigious journalism associations. Candy holds an active Texas real estate license but does not sell. She is on the Board of Directors of Braemar Hotels & Resorts (BHR).

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