The penthouse is still available at $16.5 million

Museum Tower has hit a crucially important sales milestone: 80% sold. Which means 100% is in the very near future. In high rises, sales multiply more rapidly with every signed contract.

And for Museum Tower, one of the contracts that put them in the 80 percent club came from another prominent Dallas family moving out of Preston Hollow. They will be in good company. (Editor’s Note: upon request and respect for privacy, we have removed the names of the high profile homeowners though it is public record.) 

Currently there are 108 homes, after legal combinations of units, and only 22 homes left to sell.

22/108 =20.37%

The 42-story luxury tower is now five years old. And for Steve Sandborg, Managing Director, Sales and Operations, this sales threshold couldn’t be a better holiday gift.

“We’ve been inching towards that magic 8-0 number, we’ve had a strong year, so we knew we would get here by now,” says Steve. “Museum Tower is a very special place, and nobody has this perfect location, in the center of everything.”

Steve and the Briggs Freeman real estate team working tirelessly toward 100% sales says interest in the building seems to get stronger every day.

“The buzz around town is that we are THEE place,” says Steve.   (more…)

Museum Tower (3)

Word just in that the ink is dry on yet another contract pushing Museum Tower’s sales up over the 60% point, as I predicted it would soon be back in May, when we did our PartyLine show there.

“With homes closed and in escrow, Museum Tower is over 60% sold on both sale-able square foot basis and unit basis,” says Steve Sandborg, Managing Director, Sales & Operations.

Meanwhile, the Dow is coming back up as we realize that Brexit isn’t going to be so painful, not to us at least. Shall we take a wager on when MT hits 70% in sales? I’m gonna say around September 30….

 

 

Museum Tower Party

Museum Tower Party Line Real Estate at the Penthouse!

As we told you a few weeks ago, Museum Tower has now sold more than HALF of the luxury high end condo units available, and by the time you read this the number could be 55 percent or even 60. The sales team has pushed, but most buyers are just in love with the building so much that they want even bigger homes, or they want friends to buy next door. Buyers have included VIPs to multiple home owners to  sprinkling of Millennials who think Museum Tower is the best possible place to live not just in Dallas, but anywhere.

And of course, the 10,000-square-foot penthouse is available on the tip top floor marketed for about $21 million. Pricey, yes, but you have a raw shell to do whatever you want in, including rooftop space for a patio, pool, even a heli-pad. The possibilities are endless.

Here’s your chance to take a look at the Museum Tower penthouse, with our latest Party Line Real Estate show. This time, we talked not just to the agents and buyers, but press — Jeff Crilley came — and urban living experts like Kourtny Garrett, President of Downtown Dallas Inc., who tells us about the growing urban culture in Dallas — cycling, trails, parks, downtown recreation and even kids:

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UPDATE 5:00 p.m. We are full for tomorrow night’s PartyLine Real Estate event but never fear, because the PartyLine video will be up on the blog for you to see faster than you can get from Wycliff to LBJ…

This is a rare chance to do more on a Wednesday night than you have ever done. First of all, you will have a chance to win $500 in NorthPark gold coins AND hear the hottest views in town… that is, in DOWNTOWN, when Candy interviews Kourtny Garrett, the new President of Downtown Dallas, Inc.

We plan an exciting presentation on the latest developments and trends in downtown Dallas. Learn why Dallas is NOT the place it was 50 years ago… or even five years ago! And learn how it has transformed into a “live, work, play” urban environment filled with residents, parks, restaurants, entertainment and museums.

Afterwards, we will be producing another series in our PartyLine Real Estate episodes that will be posted so that everyone can be a part of the party.

MT at night

A whole lot of local celebs in this town just keep movin’ on up over at Museum Tower. As we have said here before, Museum Tower continues to be one of the hottest luxury high rise properties in Dallas. Now comes exclusive word to CandysDirt that two prominent Dallas residents have hung their hats at the luxurious high rise which is now more than half sold out.

In the last 12 months, sales at Museum Tower have accounted for more than 50% of luxury condo market sales priced over $1.5 million in this market. It has accounted for more than 63% of condo market sales priced over $2 million. This is all based on sales reported in the Metrotex MLS which tracts on market sales in North Texas, and according to information provided to me by Museum Tower that includes off-market sales.

And as I mentioned in a real estate article I wrote recently for Modern Luxury Dallas, upon the sale of his home to Andy Beal, Tom Hicks and his wife moved into Museum Tower, leasing a large unit. They are parked here while shopping for their next Dallas digs.

And most recently, Robert Edsel bought here: art lover, oil drilling pioneer, Renaissance man, author (Rescuing DaVinci,  detailing the many soldiers who helped save art in the chaotic days following World War II and the liberation of Germany, The Monuments Men, adapted into a movie starring George Clooney and Kate Blanchett, and his newest, Saving Italy, detail Italian artifacts and how they were saved) and documentarian The Rape of Europa.

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Robert-Edsel

Robert and his bride sold his Turtle Creek estate with Dave Perry-Miller agent Madeline Jobst, and bought at Museum Tower on March 8. According to DCAD, he has two units on the 29th floor, one of which was listed for $1,810,000. Like many of Museum Tower’s buyers, he is likely joining two units to create a larger home. (more…)

 

museumnite

At the tip top of Museum Tower, 42 stories high in the air, is a 9,350 square foot space I was privileged to see about two years ago with a friend who was then considering a Dallas condo. The view is unlike any other in town, more special if you have lived most of your adult life in Dallas, as I have. On a clear day, it’s as if you can see forever — downtown Dallas and Love Field, of course, but also the SMU campus and places frequented over the years with family and friends, even Fort Worth! I recall thinking, at the moment I was up there — a very different time in my life — living here would be like living with a 360 degree road map of my life in Dallas surrounding me every single day.  From the hour I arrived in Dallas for the very first time via Love Field to find my first place to live, to the top-heavy car trip from Chicago through downtown en route to our apartment, to having two babies at Presbyterian Hospital. Then raising those babies, educating and watching them become adults and parents of their own. Celebrating the extreme joys and tragedies that are, I have come to understand, a steep price-tag of life.  It was like living with Vladmir Gorsky’s famous Tapestry of the Centuries, only customized to the eyes and life of the viewer.

I realized that this could well be the most valuable dirt in Dallas, not just the highest. The value was in all the dirt you could see, as far as the eye could take you.

Now Museum Tower has announced its vision and yes, the pricing, for this unique Penthouse opportunity.

Museum Tower Penthouse 2

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Museum Tower New Neighbor

Insert New High-Rise Here

Well, that didn’t take long. We know downtown dirt is getting pricier by the minute. So the news last week that the Dallas Symphony Foundation is selling a side-lot on Pearl and Woodall Rodgers to Lincoln Property for $7.2 million wasn’t too surprising. The smidge-over-half-acre lot had been a grassy area for about 20 years, at times punctuated by sculpture.

Lincoln Property plans to erect a 23-story tower on the site with 250,000 square feet of office space and ground floor restaurants.

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Update from Candy, Sunday evening: Spoke with City Councilman Lee Kleinman late Friday afternoon, and he told me that the film covering as a “solution” to Museum Tower’s glare problem was not yet a done deal, but he was pleased  about the collaborative spirit he is seeing between the Pension Fund and the Nasher family. He was pretty optimistic.

Director of the Nasher Jeremy Strick has also released a statement saying that the Fund has committed to potential changes of the Tower’s facade, including some that could be better and more effective than the film. The film only reduces the glare by 50%. However, there may be better products out there and the Fund wants to find them, test them, and then adopt them.

Original story:

Remember about a year ago when Candy chatted up Hines CEO C. Hastings “Hasty” Johnson about a new product they were looking into?

He mentioned that building materials of the future might include unique glass for highrise buildings, including a glass that gets darker as the light shines on it. An entire glass wall or building could in essence become a giant solar panel. This could lead to some legal issues down the road if your building, for example, blocked someone’s sunlight and view as you would also be blocking their source of energy.

Immediately we thought of Museum Tower in Dallas, and all the gleaming glass towers struggling with reflectivity issues from building with energy efficient glass. I tracked down Johnson briefly, who told me that Hines is working with Museum Tower to find a solution. His associate, George C. Lancaster, a Hines senior vice president, told me he was confident they would be able to find a solution to the glare issue.

Well, lo and behold, Robert Wilonsky reported today that Hines has come up with a solution for Museum Tower — a film that will reduce the reflectivity significantly.

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