John Stephens AT&T

John Stephens CFO AT&T

Let’s face it: this week was kind of an emotional mess.

If you were supporting Hillary Clinton and expecting her to win, like most of the media did, nearly all the pollsters, and of course the pundits, you were devastated, cried, and probably feel a bit wrung out by now.

If you were a Trump supporter, you had to have been a LITTLE worried that he could pull this off. But pull it off he did, making unprecedented history, and you are now one happy, albeit maybe hungover, camper.

If you were undecided or didn’t like either candidate, you probably just watched the events unfold in disbelief but are now wondering, what does this all mean? We need business to thrive so people can buy and build homes. At first the markets tanked (because the expected did not happen), but then they soared. Most business tycoons are overjoyed at the prospect of fewer federal regulations and maybe we can let Dodd-Frank take a hike (don’t let the door hit you in the fanny). Could a lower corporate income tax be on the horizon? Middle class tax relief? Rebuilding our country?  Here’s what two Dallas-based CEOs told Bloomberg News:

John Stephens, chief financial officer, AT&T Inc.:
“From a company perspective, we really look forward to working with President-elect Trump and his transition team. His policies, his discussions about infrastructure investment, economic development and American innovation, all fit right in with AT&T’s goals.” (Nov. 9)

Kelcy Warren, billionaire founder, chairman and CEO, Energy Transfer Partners LP:
“Having a government that actually backs up what they say, that actually says, ‘we’re going to support infrastructure, we’re going to support job creation, we’re going to support growth in America,’ — and then actually does it. My God, this is going to be refreshing. So, I think, overall, I’m very, very enthusiastic about what’s going to happen with our country, very enthusiastic and as it supports our industry.” (Nov. 10)

Kelcy-Warren

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I recall hearing about this, but it didn’t resonate until I saw it in Bloomberg: Our Energy Transfer Partners, as in Kelcy Warren and his son Klyde, who has a downtown Dallas park named after him, now heads a dang big company that includes more pipeline than Larry Ellison has homes. Energy Transfer Partners has acquired Sunoco Inc. in a complex cash and shares deal. All I know is I grew up in Illinois and used to buy a whole lot of Sunoco gas, and they once had these green inflatable dinosaurs we all got for free — this when they were so nice to you at gas stations. I know I’m dating myself here, but once upon a time, boys and girls, gas stations gave great service for your business. They pumped gas and gave you big green plastic dinosaurs for your swimming pools. Anyhow, Energy Transfer now owns the place, old plastic dinosaurs and all.

So what does this have to do with real estate? Kelcy might be shopping for more real estate. He already owns one of the most prestigious homes in Dallas, 26,620 square feet set on almost 9 acres of land in the honeypot of Old Preston Hollow. 5323 Park Lane was constructed circa 1991-1993 by a dream team including architect Cole Smith, Smith/Ekblad & Associates, Sherry Hayslip-Smith, Hayslip Design Associates and Cole Smith, Jr., Crowbar Contractors for Joyce and Larry Lacerte. At the time of sale, it contained a racquetball court, exercise room and locker rooms adjacent to a near Olympic-sized natatorium, bowling alley, wine cellar with tasting room, an Orangerie conservatory overlooking interlocking Koi ponds loaded with about a million dollars worth of Koi, tennis court, baseball diamond and a private lake. Dave Perry-Miller (Ebby Halliday) agent Ralph Randall represented the Lacerte family. Mr. Warren added a private, secret music studio hidden off a shoe rack in the spacious master closet. It is designed to be soundproof so he can practice away, and BTW that closet is the size of most apartments.

5323 Park Lane was originally listed in 2008 for $45 million, then lowered to just under $40 million as the nation’s real estate bubble went bust. According to my sources, it sold for about $29 million-ish, and sharp Kelsey even asked for an outside appraisal. (Imagine what he did to Sunoco!) His buyer’s agent was Rosie Waters of Allie Beth Allman and Associates, who is married to football legend Charlie Waters, who works for Mr. Warren.

As if that isn’t enough, in 2010 Mr. Warren paid $46.5 million for a 3,500 acre ranch in Pagosa Springs, Colorado, near Telluride: Bootjack Ranch. 14,000 square feet, 27 bedrooms, 29 bathrooms, four half baths, according to Sotheby’s. But that’s not all. It has miles of river — great fishing — lakes and an 82-foot long pool, a 12,000 square foot glass lodge spa and aquatic center complete with retractable roof for “spa activities.” (Gotta have fresh air for yoga, right?). The dining room light-fixture is in the shape of a canoe. All together, there are 77,000 square feet of interiors, plenty of room to entertain 50 or an army. Mr. Warren also owns an entire island off the coast of Roatan, Honduras where he is building an amazing private retreat. And he’s a great negotiator: Bootjack ranch, which was owned by a San Francisco Bay-area developer and his wife, was originally listed for $88 million. We were lucky enough to fly by private jet to Crested Butte a few summers ago, and there was Mr. Warren’s private jet right there just waiting for him.

Wine room; 14,000 square foot spa and aquatic center, below.

 



 

 

Warren's Park Lane estate

Why is everyone so surprised over energy billionaire Kelcy Warren buying the naming rights to Woodall Rogers Park? It’s not like I haven’t been telling you this is a man who REALLY likes dirt. On February 18, Cheryl Hall at the Dallas Morning News had a dandy exclusive story about Warren’s (rumored) $10 million purchase of the naming rights to Woodall Rogers Park, our venerable 5.2 acre greenbelt park over the freeway that will frost the Arts District in green. He is naming it after his nine year old son, Klyde, who will have to intern there until he’s 21. Cool story, but it’s not as if I haven’t been telling you for years that Kelcy Warren is a cool, self-made man who likes him some real estate and also, apparently, music. While Warren did not make many changes to the Cole Smith designed home of Joyce and Larry Lacerte at 5323 Park Lane he bought in June 2009 for about $29 million, he did add a private, secret music studio hidden off a shoe rack in the spacious master closet. It is designed to be soundproof and that closet is the size of most apartments.

The beautiful Preston Hollow estate was built by computer software magnate Larry Lacerte, and is still Dallas’ largest home sale to date. Well, at least until Troy’s home and Mt. Vernon sell. 5323 Park has entertained scores of dignitaries and raised millions for Dallas charities.  The 26,620 square foot home is set on almost 9 acres of land in the honeypot of Old Preston Hollow and was constructed circa 1991-1993 by a dream team including architect Cole Smith, Smith/Ekblad & Associates, Sherry Hayslip-Smith, Hayslip Design Associates and Cole Smith, Jr., Crowbar Contractors. At the time of sale, it contained a racquetball court, exercise room and locker rooms adjacent to a near Olympic-sized natatorium, bowling alley, wine cellar with tasting room, an Orangerie conservatory overlooking interlocking Koi ponds loaded with about a million dollars worth of Koi, tennis court, baseball diamond and a private lake. Dave Perry-Miller (Ebby Halliday) agent Ralph Randall represented the Lacerte family. They are, by the way, building in Highland Park.

5313 Park Lane was originally listed in 2008 for $45 million, then lowered to just under $40 million as the nation’s real estate bubble went bust. According to my sources, it sold for about $29 million-ish, and sharp Kelsey asked for an outside appraisal. His buyer’s agent was Rosie Waters of Allie Beth Allman and Associates, who is married to football legend Charlie Waters, who works for Mr. Warren.

Warren's Bootjack Ranch

The Warren (former Lacerte) home has entertained Prince Edward, former President George W. and Laura Bush, Senator Kay Bailey Hutchison, Jaap van Zweden, and Caroline Rose Hunt, among others, plus feted countless Dallas charity galas and pre-galas. While the social patter over there has been a little more subdued with Kelcy and his new wife, Amy, at the helm, it could be because they just travel so darn much to their other properties via a fleet of private jets: a private island in Roatan, Honduras and Bootjack Ranch near Telluride, Colo. I saw one of the Warren’s private jets at the FBO in Crested Butte, CO. last summer. Let me tell you —  nice wheels!

Kelcy Warren Estate

My sources tell me the Barrett mansion is going to set a new standard for luxury in Dallas — make that Preston Hollow. I can hardly wait!

“Nona and Richard were in not too long ago and I saw the plans for the new estate. It’s some kind of house! According to Nona, the kitchen will have a 25 foot long island with the ceiling three stories above and giant windows looking out across the lawn.”

That’s some lawn — over four acres! And I think a 25-foot long kitchen island would be divine — think of all he laundry you could fold on it, gifts to wrap.

Oh, what’s that you say? There’s a laundry room the size of my house, and likely a wrapping room. OK.

“The house will be full of malachite and marble floors – malachite columns, topped with bronze, rose quartz lines one of the bathrooms entirely, and marble everywhere in the others.”

Of course! I was not thinking linoleum, were you! But get this, here’s a new one for Dallas:

“They will have an orchestra room – I think also called the Malachite Room that will seat 100.”

Folks, this place tops the Lacerte/Warren house that is just a few blocks away. Remember that house closed June 16, 2009, one of Dallas‚Äô largest homes at 26,620 square feet that entertained scores of dignitaries and raised millions for Dallas charities. The seller‚Äôs agent was Ralph Randall of Dave Perry-Miller, an Ebby Halliday Company. The home is set on almost 9 acres of land in the honeypot of Old Preston Hollow, so a larger lot than Barrett’s. The estate was constructed circa 1991-1993 by a team including architect Cole Smith,¬† Smith/Ekblad & Associates, Sherry Hayslip-Smith, Hayslip Design Associates and Cole Smith, Jr., Crowbar Contractors.¬† It contains¬† a racquetball court, exercise room and locker rooms adjacent to a near Olympic-sized natatorium, bowling alley, wine cellar with tasting room, an Orangerie¬†conservatory overlooking interlocking Koi ponds loaded with about a million dollars worth of Koi, tennis court, baseball diamond and a private lake. So Ralph Randall now rules as the high priest of Dallas‚Äô most expensive real estate STILL. Agent to the John Muse family, he participated in the sale of the most expensive home in Highland Park when he helped John and Lyn acquire their lot at 4800 Preston Road.

Skuttlebut: 5323 Park Lane was originally listed in 2008 before the crash for $45 million.¬† According to my sources,¬† it sold for under $30 million-ish, and the buyer, Kelcy Warren,¬† asked for an outside appraisal to be dead sure he got his money’s worth.¬† He also bought some properties behind the estate, which had been occupied by the Lacerte’s parents.

The Lacerte-now-Warren home has entertained, among others,¬† Prince Edward, former President George W. and Laura Bush,¬† Senator Kay Bailey Hutchison, Jaap van Zweden, and Caroline Rose Hunt, among others, plus feted countless Dallas charity galas and pre-galas. It has everything BUT an Orchestra Room! That’s why I love writing about celebrity homes — there’s always a new gizmo right around the corner!