We have heard rumors ever since he bought the most expensive piece of real estate in Dallas from Tom Hicks that he wanted to sell it.
Well, now he has gone and made it official: Andy Beal listed 10000 Hollow Way Drive, just west of the Dallas North Tollway at Walnut Hill Lane, on January 10 with the agent who sold it to him, Allie Beth Allman. Asking price is $48.9.
The estate is the same size as it was a year ago when Beal snapped it up — all 27,029 square feet — and Beal is selling off every lick of the land of 25.25 acres. Only difference: the kitchen has been ripped out.
There has been much speculation that he would divide and split up the land, parsing the vast acreage into developable lots (think the Creeks of Preston Hollow) and sell the home on a 5 or 7 acre parcel. But for now, it appears he is selling it all lock, stock and barrel, including that torn up kitchen Beal ripped out to replace.
The price is also not surprising. We had heard the estate, once priced at $135 million when Douglas Newby had it, sold for somewhere in the $50 to $60 million range, which could have included furnishings and antiques.
Indeed, the sales price is LOWER than DCAD value, which has two properties (one a 20 acre plot, the other a 5 -ish acre plot) valued at a total of $61,278 ($4,152,000 plus $57,126,000).
So this could be the biggest bargain in town.
“He doesn’t seem to have a problem with the price,” Allie Beth Allman told Steve Brown. “He has other plans.
“I don’t ask any questions — just do what he says.”
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