The most expensive and largest home in North Texas owned by American leveraged buyout businessman Tom Hicks, has found a new owner in Andy Beal, the founder of Beal Bank.
According to Housing Wire, Hicks' $100 million house is set to be the most expensive residential real estate property in Dallas which broke records for its dimension and price tag.
The luxury home sits on 25 acres of land that includes a 6,400-square-foot guesthouse, a 9,194-square-foot "recreation building" with a full-sized movie theater in the basement and a 27,000-square-foot main house that has a master bedroom suite that occupies 3,000 square feet of space. It is bigger than the average sized house in the area.
In 1997, Hicks and his wife bought the house and transformed it to the most luxurious house in Dallas. Hicks listed his house last march on the market for about $135 million and later dropped it to $100 million, which is a big discount considering the value of the property.
The Crespi Estate was rebuilt from the ground up with work commencing in 2000. David Nichols of Allie Beth Allman said, "The renovation took 33 months with 250 people a day working on the house."
The opulent mansion has extravagant amenities such as a library paneled in 19th-century Italian walnut and burl, a main kitchen with floors using 10th-century Dutch Delft manganese tiles, a mirrored art-deco bar room, and an exercise room. The pool house boasts of an outdoor living room, an indoor catering kitchen, a massive game room, and a home theater spanning an entire floor. The grounds have two guest houses, a tennis court, several greenhouses, a tree house, rose and vegetable gardens, and a second hidden driveway entrance into the property.
Meanwhile, in a report by Dallas Business Journal, Allie Beth Allman, founder of Allie Beth Allman & Associates said, "The buyer and seller were very happy and it was a fair deal for everyone," She was been marketing the residential property of Hicks for about a year and was found by Andy Beal.
