Looking for a contemporary estate in Preston Hollow? This one’s pretty, and it’s about to get even more attractive. There’s a price drop in the air, and listing agent Kyle Rovinsky is dangling it like a carrot. The Coldwell Banker agent originally listed Dallas Council Member Lee Kleinman’s home for $4,567,890 but just alerted us to a price reduction worth over $800,000 for the two-acre creek-side perch on coveted Ricks Circle in Preston Hollow.
“One-acre properties in the area are currently trading for around $1.5 million. This home affords a prime two-acre lot,” Rovinsky said. “So you are paying $3 million for the dirt and $750,000 for the commercial construction,” he explains.
In addition, the home has provenance. The nearly 8,000-square-foot structure was built in 1995 by AIA Fellow, Gregory Ibanez. His notable resume includes the design of the upper Greenhill School and the acclaimed remodel of Casa Mañana.
The five-bedroom, six-full-two-half-bathroom home was also fixture on the Raymond Nasher Tour of Homes back in 1996, and is what Candy Evans calls, “One of the prettiest pieces of property in North Dallas.” She should know – the CandysDirt.com founder lives at the other end of the street.
What makes it truly unique? “The house was designed to open up geometrically as you approach it from the back,” says Rovinsky. “It’s a visual treat for the owners and perfect for entertaining as glass walls open up to the rear of the property.”
Rovinsky tells us District 11 Dallas City Council member Lee Kleinman’s home will soon see the reduction. “It’s time to refresh the listing for 2019 and highlight the new price,” he says.
The Ricks Circle home is ideal for a family with children who appreciate the North Dallas footprint. “It’s a true estate property, great for indoor-outdoor entertaining,” Rovinsky adds. “A two-acre creek lot is difficult to find.”
For residents in North Dallas, few listings compare to a large parcel of land backing to a babbling creek. The setting alone is worth a look.
Kyle Rovinsky with Coldwell Banker Residential Real Estate has listed 11322 E. Ricks Circle for $4,567,890 – soon to be $3.75 million.