A famous Dallas mansion built for an Italian count nearly a century ago became the most expensive home to go on the market in Texas last month, with an asking price of a whopping $47 million.
Eight of the state’s 10 most expensive homes are in the Dallas-Fort Worth area, according to a list released in April by the Houston Association of Realtors, which uses information from local real estate information services around the state, including the North Texas Real Estate Information System.
Because the data was compiled through the end of the month, some homes listed in late April may have been included in the May rankings. Some homes listed in late March may have been on the April list.
Crespi Estate (5619 Walnut Hill Lane) has long been considered the most expensive home in North Texas. The sprawling mansion was originally built in 1938 for Count Pio Crespi, a wealthy Italian cotton magnate who moved to Texas with the intention of expanding his family business.
Designed by Swiss architect Maurice Fatio, Preston Hollow House has hosted presidents and dignitaries. It was owned by the Crespi family until 1997, but has changed hands several times over the years.
Previous owners include former Stars and Rangers owner Tom Hicks, banker Andy Beale and then-developer Mehrdad Moayedi. Since 2019, a trust linked to the prominent Cox family has owned the property. Dallas Morning News We reported on the latest attempt to sell the home in recent weeks.
The 27,000-square-foot limestone mansion is the height of luxury. Inside, there are 10 bedrooms, 12 bathrooms and five partial bathrooms. The 3,000-square-foot main suite has two bathrooms and opens to an outdoor terrace.
The library is decorated with 1820s panelling from France, and there are two wine cellars, sensory deprivation float tanks and a panic room with enough oxygen to keep four people alive for more than a day.
The property also includes a 3,300-square-foot guest home and greenhouse. A 4,800-square-foot pool house and recreation center in the basement includes a 19-seat theater with a reel room and concession stand.
The grounds also include a lighted helipad, a country club-sized pool, a stream and a waterfall.
The land once contained 25 acres, but during Moayedi’s ownership, about 10 acres of it was divided to build a housing complex.
The mansion, which sits on about 15 acres, was listed for sale last year for $60 million, but the deal fell through. This new listing has been priced lower to reflect the number of acres it’s selling on. The $47 million price tag includes only the home and the 12 acres it occupies.
Three parcels, about 1.3 acres each, are off the list, but all 15 acres could attract offers, agent Michellene Galbraith of Allie Beth Allman & Associates previously said. news.
Other Dallas-Fort Worth area homes on the list include:
- At 3612 Crescent Ave., there’s a nearly $20 million Highland Park home with an underground wine room that can store 3,000 bottles. news I wrote about this property last month.
- The roughly $16 million mansion is located at 9520 Hathaway St. in Dallas. The 16,000-square-foot home has nine bedrooms, 12 bathrooms and one partial bathroom.
- The nearly $14 million Highland Park home is located at 226 Arcady Ave. The six-bedroom home was built in 1926.
- A $13.85 million French Mediterranean-style home at 5414 Edlen Drive in Dallas. The six-bedroom home features a speakeasy with wine cellar.
- A roughly $13 million mansion in Dallas’ Preston Hollow neighborhood, the home at 4554 Harry’s Lane has air conditioning and a seven-car garage with a lift.
- A five-bedroom home in Highland Park is asking just under $12 million. Located at 4350 Rheims Place, the home is 9,832 square feet and features a waterfall hot tub.
- $11.7 million home at 3700 Scenic Drive in Flower Mound, with two private ponds.
