The most expensive home in Dallas, Texas is officially back on the market with the highest asking price to date. The 25-acre home is currently owned by North Texas developer and investor Mehrdad Moayedi who has put the home on the market for $135 million.
The home is located in one of Dallas’ most desirable neighborhoods inside an exclusive luxury community in North Texas. Over the next ten years, the value of this home is forecasted to increase more than any home in the United States due to its location in the economically strongest city and region in the country.
The home has had four other previous owners who were all wealthy individuals in Dallas including billionaires such as Kelcy Warren, Ross Perot, and Mark Cuban.
The Crespi/Hicks estate is said to be on the best site in the best neighborhood. The finest private schools are located near the home, which is only eight minutes away from the Arts District and Downtown Dallas. While the home is only fifteen minutes away from an airport, the Estate even has a helicopter landing area.
Since the Crespi/Hicks Estate is situated on the largest estate property in any major city in the country, the price of the home is expected to continue to increase in value more than any other home in the United States.
The 25-acres of land the home has a rich architectural pedigree thanks to the genius behind the extraordinary home, Maurice Fatio. The landscape was designed by Arabella Lennox-Boyd. Renovation architect Peter Marino further refined the architecture and perfect proportions that Maurice was commonly known for.
The estate features a main house, pool house, and guest house; the main house is 28,996 square feet while the guest house is 6,318 square feet and the pool house is 7,188 sq/ft. The entire land consists of 25.25 acres of forests, creeks, ponds, and gardens.
Moayedi purchased the estate at an auction last December for $36.2 million, setting a record for the highest price paid for a residential property on an auction block in the U.S. He then began flipping the main house to create exclusive estate lots with the remaining acreage. The now-complete residential development will be called “Crespi Estates.”
On the ground floor of the main home is now a 500-bottle-capacity wine cellar kept at 55-degrees; if the temperature veers warmer or colder an alarm with ring to notify the temperature change. There is also a walk-in vault, a movie theater, and a “safe room” with armored doors. Moayedi has completed some exterior work as well; he redid the swimming pool, added a greenhouse and gardens, and added more than 200 new trees to the property.
The home has easily had millions of dollars in improvements; the structure and land had been previously valued at $51 million in 2013 when Hick first put the home on the market. The home was billed as the most expensive listing in the U.S. at a price of $135 million. Later the home was lowered to $100 million when Hicks had changed agents to Douglas Newby.