Cowboys

Stephen Jones (far right) introduces his father and Dallas Cowboys owner Jerry Jones, who announced a first-of-its-kind luxury high-rise project that would combine the team’s brand with a luxury residential concept. From left to right, Robert Shaw, Charlotte Jones Anderson, Roger Staubach, Jerry Jones, and Stephen Jones (Photo by Bethany Erickson).

Twelve Cowboys Way is no joke, but legendary Dallas Cowboys quarterback Staubach did admit he had pulled an April Fools prank already Monday morning — on his unsuspecting wife.

“I was getting ready to come here today, and I woke up my wife and said, ‘Honey, honey! There’s a bunch of squirrels in the house,’” Staubach said with a fair amount of glee. “She woke up yelling, ‘What? What!’ — so I got my joke in already.”

And while they may have chuckled when asked if they worried an announcement as big as a new residential high-rise concept co-branded with a sports team might be treated with a little skepticism because of the timing — the middle of April Fools Day — Robert Shaw and Roger Staubach are serious about the project.

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LRK’s McKenzie: 22-story, 183-units ranging from 998 to 2,699 square feet

Don’t know about you, but I am doing a big huge about face when it comes to renting. 

First of all, tax changes. Second of all, tax changes: we pay more in property taxes, and cannot deduct them or most of the mortgage interest, so why, at a certain point in your lives when you have built all the equity you can, are you KILLING yourself keeping up a house?

One honest answer is that, even with 3,500 apartments under construction in Dallas, I had never seen a Dallas apartment where I might want to live.

Until I saw The McKenzie.

The granite in most “luxury” apartments is so thin a good sneeze might crack it. There is never enough storage. The bathrooms are cramped, the closets have minimal shelving, and the “common” areas never look like you could really hunker down with a book and a decent glass of wine.

Until I saw The McKenzie.

The amenities in this building are overwhelming and, dare I say, almost better than home. My home anyhow. I don’t have 24/7 valet and concierge service, I’d love it.

The McKenzie is the baby of StreetLight Residential’s Doug Chesnut, founding partner. He was an early believer in bringing true luxury leasing to Dallas, and the McKenzie, named after his wife’s family, is his crowning glory:

“These residents are not concerned about rent but about the quality of the units and the services. Our average renter is coming out of a large home, in their late 50s and 60s, and many have second homes or ranches where they spend a lot of time. They want the amenities, but on a lock and leave basis.”

And rent is not so much of an issue starting at $3,500 a month. For many people, that is their property tax payment. Residents still get access to a pool deck with views of downtown, a full fitness center, multiple private lounges, a library, entertaining kitchen, a private resident entertaining area/bar, and several outdoor seating areas. There is even a boardroom and private walled garden. John Hawkins of Hawkins Welwood Homes finished out the stunning amenity areas, and John built half of the resident’s homes in Preston Hollow. So everyone tells me they feel right at home.

But seeing is believing. We want to show you the interiors, the Board room, the Salon, the Founders Room, the entertainment kitchen, the pool deck and outdoor garden and all…

Like your favorite little black dress, this Colleyville contemporary does a fabulous job of showing off during the day and into the night, perfect for entertaining any and all crowds! 

This new listing from Virginia Cook Realtor Angela Downes at 5607 Versailles Court offers grand interior spaces filled with light and outdoor spaces that offer all the amenities of your favorite resort. 

According to Downes, “5607 Versailles Court is at once refined and edgy; modern, with a distinct nod to classic design.”

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In these times of low unemployment, it’s hard to find good (any) help. For the wealthy, it’s also hard to find the right manse with an equally tight luxury real estate market. Recently, Christies published their sixth annual look at the global luxury real estate market.  For those buyers, sellers, and real estate professionals, it’s an interesting view into the high-dollar niche world of luxury real estate (with surprisingly few eye-rollingly “woe is me” moments).

Let’s hit a few high points.

Christie’s defines a luxury home as one costing 3.4 times the cost of an average home in a given area. They further note that on average, the highest-priced home in a given area is 39 times the cost of the average home.

How does Dallas fit?

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At 100,000 square feet, it’s not hard to find The One on Google Maps

Cambridge Analytica-Facebook, Mossack Fonseca’s Panama Papers, Saudi Arabia’s corruption crackdown, and the lesser known, but equally telling Paradise Papers, all have one thing in common – the exposure of a global system rigged against the 99.999 percent of us little people. In case you missed these exposures, all occurring in the past 12 months, private palaces like the 100,000-square-foot The One, currently under construction in Los Angeles, unashamedly remind us.

Here in Dallas, you may be remembering the award-winning columns I wrote in 2016 about how real estate non-disclosure enables the wealthy to unequally obscure the true value of their homes. I noted that the top 10 most expensive homes for sale at the time were valued by DCAD at $82 million less than their asking prices.  This discrepancy cheated Dallas out of some $1,904,080 in taxes a year … based on just 10 homes.

Tip of the iceberg stuff was that.

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The Preston at Preston Hollow Village Residential is now open and move-in ready! With apartment homes ranging from 650-2500 square feet, The Preston depicts its own unique identity and amenities. Whether you are selling your family home for a smaller place in town, not to mention getting away from high property taxes, you are going to love this upscale home in the heart of Preston Hollow Village.

Did I say apartment? As in rent? As in no worries ever about outside maintenance, yard, bushes, pool chlorine levels, leaves in the gutters, paint, clogged commodes and kitchen sinks, parking your own car, and even lightbulbs: they change them for you! Hot damn!

The Preston is an apartment I would move to in a heartbeat — maybe sooner — because it has EVERYTHING!  (Keep reading to find out how you can get a preview of this property on Thursday from 4 to 6 p.m.!)

First of all: location, location, LOCATION! The northwest corner of Walnut Hill and Central first housed tony apartments that eventually became Class C, were torn down, and then the land sat idle during the Great Recession. Because I am old and I remember when the Class Cs were more like Bs, I knew the area had great potential: ponds and green space, but mostly that dynamic intersection. To me, quality of life is how quickly I can get to work or my grand-daughters out of my glorious home, and then get home again. And that intersection is solid gold for getting anywhere. 

Plus now, you have a true mixed-use community anchored by Trader Joes and ModernMarket, Pakpao Thai, Blue Sushi Saki Grill, Cinco Tacos, Frost Gelato, Matchbox Kitchen, and Blatt Beer & Table. That’s just the food offerings now. The six-phase master-planned community encompasses upscale shopping and dining, and will ultimately have six upscale residential neighborhoods featuring more than 1,300 homes. Preston Hollow Village complements the modern, on-the-move lifestyles of its residents: you and me. Everyone can walk to chic restaurants, a neighborhood grocery store, superior shopping and services and, in the near future, a three-acre park. There is even a Walgreens Community Pharmacy and a Frost Bank.

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Dave Perry-Miller Real Estate agents Bo Parker and Cindy Bruner represented the seller for 4412 Lakeside Drive, which closed last week after less than three months on the market.

From Staff Reports

Historically, real estate agents often find themselves in a bit of a lull at the end of the year, particularly in the luxury end of the market. Not so for Dave Perry-Miller Real Estate listing agents Bo Parker (Highland Park Office) and Cindy Bruner (Preston Center Office). The two just closed the second-largest sale in Dallas thus far this year.

The home they represented at 4412 Lakeside Drive is an iconic 1918 Hal Thompson beauty overlooking Exall Lake in Highland Park, marketed for $9.495 million. CandysDirt.com columnist Karen Eubank featured it as our Monday Morning Millionaire in September.

“This house was truly a joy to show,” says Parker. “It’s a masterpiece that beautifully blends the character of days gone past and today’s updated clean palette. It has an elegance and integrity that cannot be replicated.”

Though it has been off and on the market over the last few years, it was most recently back on for just 66 days before going under contract. The previous owner invested in significant upgrades to the 9,035-square-foot, four-bedroom home, and the skills of premier home stager George Bass were enlisted to help attract the new buyer. The efforts paid off last Wednesday.

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AbFab fans will recognize Pierre Cardin’s $381 million Bubble Palace. Listed since 2015. Source: Christie’s

It was the best of times, it was the not-so-best of times. Christie’s annual Luxury Home Market Report has many interesting insights into the global luxury market and how, in many ways, it operates on another plane, divorced from the broader real estate marketplace. While this should be unsurprising, the wealthy seem to always be on a different plane, there are some interesting insights.  Think of the following as a good, old-fashioned book report.

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