Monday Millionaire II: Isabell Cottrell's Northbrook Home Back on the Market

5444 NorthwoodIt’s common courtesy for journalists to give credit where credit is due — for finding a story, breaking news, or writing a really great piece. Folk at the Dallas Business Journal don’t always do that, but I AM going to credit Candace Carlisle with breaking this story: the Cottrell mansion is on the market at a reduced price.

That she was right about. The home, which was built in 1950, belongs to Isabell, who is divorced from Comer Cottrell, he being the founder of Pro-Line Corporation which creates ethnic hair care products. The 8,500-square-foot home was ONCE owned by Isabell and Comer, but they divorced back in 1996 or 1997, and in fact Isabell tried to divorce Comer 14 times during their 20 year marriage.

They also once lived in a gorgeous home on Hollow Way, that was sold to West Coast radio personality Dr. Toni Grant, who is married to John McCullough Bell. I have also been told that Comer Cottrell sold a large home on Strait Lane to a certain dentist.

My point is: the Cottrells, Isabell and Comer, love beautiful homes.

Candace was discussing the plight of older mansions. Like aging Hollywood movie stars, they suffer when it comes time to sell. They are like old movie queens — a dime a dozen.

Isabell’s home sits on 2.21 acres, which mitigates backing up to Northwest Highway. She has five bedrooms, four full and two half baths, a tennis court and a pool. The tennis court appears to need resurfacing but that is no biggie, we had a tennis court in one house. 5444 Northbrook has been reduced by more than $1.5 million since it was first February 20, 2012 for $3.9 million. That’s almost two years ago.

“The home is going to have to be significantly remodeled or torn down,” Thornhill told the Dallas Business Journal.”

5444 Northwood foyer 5444 Northwood foyer 2 5444 Northwood Living 5444 Northbrook dining 5444 Northbrook kitchen 5444 Northbrook familyThornhill said it’s hard to remodel a house from the 1950s and get what today’s buyer wants, which is a large living space, huge bathrooms and big closets. Let me add to that tall ceilings, an outdoor kitchen environment, a master spa bath, decked out kitchen with SubZero, a unique granite that fell from a meteorite somewhere, Wolf or Viking, farmhouse sink, and at least two dishwashers. Having a Paykel drawer dishwasher in the Butler’s pantry is a nice touch, as is the Butler’s Pantry and a Keeping or Morning room.

Not, of course, a Mourning room.

That’s why people want to build new, and why lots are in such great demand.

So often agents tell me that certain homes, while beautiful on the interior, just won’t cut it for today’s buyer at a premium price. They are better off scraped.

So do we assume that every house built in the 1950’s or even 1960’s is a tear down? How much do you add to your home to keep it up to date? Paint? Carpet? New Lighting? Do we add on square footage? How often do you update bathrooms? If you have brass fixtures (BAH!) do you replace with platinum for a better sales price?

“Remodel, remodel, remodel,” said Thornhill, who gives the same advice to his clients to keep their mansions marketable.

Upkeep upkeep upkeep. Sounds like me: microderm, hair color, hair straightening, Botox, Juvaderm, exercise, ye gads it takes a Village.

At what point do you just say, sweetheart, we love you, but no more plastic surgery?

I do know of a movement afoot in Preston Hollow and the Park Cities whereby builders are coming in and remodeling homes to sell. Freshening them up for $15,000 to $20,000. Stay tuned for all the deets, but do tell:

Where do you draw the line on just flat out pricing a home as a tear down?5444 Northbrook tennis 5444 Northbrook pool 5444 Northbrook snow

 

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