Angie Barrett’s One Arts Condo Sells to Former Denton Mayor, Now Legal Battles Going On

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1717 One Arts LRWell I failed to tell you when Angie Barrett sold her 3200 ish square foot penthouse condo at One Arts Plaza last December 13. (Spank me!) The condo, which was beautifully decked out in a stunning contemporary style by Droese and Raney Architecture Inc. was listed for $2,575,000. It had been on the market for a bit. The place was and still is just a palace in the sky: Edelman-leather walls, Tully Weis, Muse Integration, Poliform, Miele and Sub-Zero throughout, there is also 673 square feet of terrace to enjoy, custom cabinetry and motorized window treatments.

The master suite is enormous: 18 by 14 with a study, custom closets ( OF COURSE!), a bathroom with a contemporary vessel tub and shower fed by ceiling-mounted spouts and multiple showerheads.

Joan Crawford, eat your heart out on this one.

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So on December 13, the former Mayor of Denton, Texas, Mark Burroughs, and his wife, Dianna, snapped up Angie’s glorious pad for $2,175,000. At least that’s what it says in MLS. Which is interesting, because now Mark Burroughs is suing the Dallas County Appraisal District for putting that very same valuation on his property. His beef, according to Stephen Young at The Dallas Observer, is he “claims that the city of Dallas has unequally appraised his property by valuing it at more than 10 percent more than the median price of comparable Arts District properties and seeks an adjustment to that median of the taxable value of the condo.”

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1717 One Arts Plaza study2Well guess what: a lot of people sue the appraisal district over tax valuations. That’s the result of this screwy system we have whereby residential property owners get stiffed while the commercial properties get away with murder! Property owners do have the right to compare the appraised value of their property to that of other “comparable” properties if they believe their appraisal is too high.

I mean, Burroughs may have paid $2,175,000 but maybe there was something else included in that sales price aside from the property. Or maybe right after he bought the home, valuations plummeted! Only two One Arts Plaza units are available for sale right now: units 2004 and 1914.

Texas courts have only loosely defined what is considered comparable. Mike Collier, Democratic candidate for Texas Comptroller, nailed it when he said our property tax system is RIGGED!

Texas is one of four states that do not require disclosure of prices upon the sale of a property. Requiring this for commercial properties will address an asymmetry between residential and commercial property valuations that contributes to unfair treatment. For residential properties, determining prices for comparable transactions is possible thanks to the internet and multiple listing services. No such price discovery process exists for commercial properties. The resulting asymmetry is this: Residential property values are highly reliable and thus offer little scope for appeal, while commercial property valuations are highly unreliable and offer much opportunity for appeal.

Vertigo-(Sutto-in-su)400Then, there’s the issue of the Vertigo: artist Teresita Fernandez’s 2007 piece, which was sold through the University of South Florida’s art museum for $175,000.

Barrett wants Vertigo back, and is suing the buyer of her condo for the painting.

It’s not clear whether she left the painting by mistake or what. Or maybe it was installed and needed a professional to uninstall? In any case, Burroughs appears to have been holding it hostage:

In a February 13 letter to her attorney, Burroughs acknowledges that he bought the unit “as is,” but that he had to rely on Barrett’s check-marked, item-by-item assurances that everything was in working order because she refused to allow a formal inspection.

It was only after the deal was sealed that he began noticing all the things that were wrong: a scorched electrical outlet on the patio; a burned-out condenser on the air conditioner; a broken wine refrigerator; an expensive “Agate” rug that had been part of the deal but had been “bait-and-switched” for a smaller one.

Too bad about all the legal actions, well at least the one between Angie and Mark and Dianna. I once had a lot of surprises with a home we bought and thought about suing but instead just fixed everything. I hope they get this resolved, in fact, maybe they have. And it looks like Mark and Dianne Burrough are planning on being urban Dallas dwellers.

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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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Comments

  1. claudia says

    Another great article, Candy. Your perspective is always quite refreshing and fair. Although I am not familiar with the semantics of this case, I was stricken by the last sentence in your piece. Those desiring to build relationships among the Dallas community should possibly heed your wise words of forgoing a lawsuit in favor of fixing the broken and lean toward some type of mediation/agreement. Life is too short for quarrels.

  2. Diana "Annie" McKee Burroughs says

    This IS a beautiful property. Droese Raney Architecture, Inc. did a magnificent job with the shell space, as did Tully and Kalynn Weiss, Julie Cohn, Muse Integration and Scott + Cooner. We purchased this property on 12/13/13. And yes, we have filed an appeal of the increase in appraised value from 2013 to 2014. Texas law requires that properties are appraised evenly and equally. Mark and I began trying to acquire our One Arts Plaza Unit in April of 2013 from Wells Fargo Bank, the listed owner of the property, after I found it on a list of foreclosed properties. Prior to closing, we purchased some of the furnishings and textiles from Ms. Angie Barrett (the original owner of the unit) for which she supplied original purchase invoices with descriptions and dimensions. Her “Agate” rug, a made to order, one of a kind piece, was one of the items we purchased from her. After our closing on 12/13/13, Ms Barrett continued to live in our One Arts Plaza unit under a lease for essentially nothing. Ms. Barrett had over a month to de-install her metal artwork which is bolted to the ceiling, during her lease period. I was surprised to find that she had failed to remove her metal artwork the evening I took possession of the unit and EVEN more surprised the next day to find that she had cut the Agate rug we had purchased from her nearly in half, two months AFTER we had paid her for it. Ms. Barrett did not want to supply us with our rug until she had removed her artwork. Now we know why. The unit did have many broken or malfunctioning items that had been in working condition, according to the Seller’s Disclosure Notice, that were apparently broken during her lease period. She was required to keep all such items in good working order. I have lived in, worked on and owned many Dallas highrise residential properties over the years. Acquiring, modifying, furnishing and selling luxury highrise properties is my profession. I occupy all of my projects prior to their sale. Based upon Ms. Barrett’s actions with us during and after our acquisition of our beautiful and now modified One Arts Plaza Penthouse, we do have trust issues with her, which upon learning of her past history, has only confirmed our concerns. Diana “Annie” Burroughs

  3. Diana "Annie" McKee Burroughs says

    Candy:

    I would be more than happy to meet you and let you have a look around. If you are so inclined, please contact me via email.

    Annie Burroughs

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