Note: This article has been updated with information obtained after first publication.
Concierge Auctions will be auctioning off a Dallas landmark property, the former Crespi Estate now known as Walnut Place, as it was christened by its previous owner, Tom Hicks. The 1938-era, 29,000 square foot estate was commissioned by Count Pio Crespi, built of Indiana limestone by Maurice Fatio, and significantly restored by Mr. and Mrs. Hicks, who acquired the estate in the late 1990s and spent about 16 years and close to $100 million on the near-perfect expansion and remodel.
Dallas-based banker, financier, investor, businessman, and professional poker player Andy Beal bought the estate almost a year ago from Hicks. The location: primo Preston Hollow. George and Laura Bush are nearby. The address is almost as long as the driveway: 10000 Hollow Way Road.
The auction takes place Dec. 20, with Dec. 19 as a preview day. Allie Beth Allman, who has had the property since March of 2015 when it was listed for $100 million, is the listing agent. It was the owner, she told me, who decided to bring out the auction gavel.
There is no reserve. That means, there is no baseline bid required to begin, such as at, oh, let’s say $20 million.