June 16, 2024


Comfortable residential structure

Images: University Park mansion sells for $21.5M in near-document d

A 1920s mansion in the distinctive Volk Estates spot of University Park in Dallas has sold for $21.5 million.

College PARK, Texas — A 1920s mansion in the exceptional Volk Estates location of University Park in Dallas has bought for $21.5 million — one of the greatest house income in the town in at the very least the earlier ten years.

This mega-sale shut in late January to a purchaser relocating to Dallas from California, reported Alex Perry of actual estate firm Allie Beth Allman & Associates, who represented the seller.

 “1.8 acres in University Park, and primarily Volk Estates, which is the estate portion of University Park, definitely would make it specific,” Perry explained in an job interview with the Dallas Enterprise Journal. “You have the gated entry, which is grandfathered in, the tennis court docket grandfathered in, and the fact that you have previous satisfies new.”

The household on Hunters Glen Street was created in 1927, but the inside was completely transformed in 2012-13, so it feels like a significantly less-than-10-calendar year-previous dwelling, yet the leafy grounds and the Georgian-fashion home’s layout and construction give it a common, genuine seem and sense, Perry reported.

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The Volk Estates home’s grounds are produced up of an array of non-public gardens and courtyards, as effectively as a putting green and tennis courtroom surrounding the grand 3-story dwelling with columned entryway.

The home sale was the largest in Dallas because the Crespi Estate in Preston Hollow offered at auction for $39.2 million in February 2018, Perry mentioned.

Affluent California buyers are pouring into the substantial-end industry in the Park Cities, Preston Hollow and other top neighborhoods, contributing to a significant shortage of residences in the $5 million and up vary, Perry said.

“There’s a substantial, huge lack of stock,” he reported. “It’s not just out-of-towners. It is really also individuals in Dallas who are looking to change addresses for your a lot more spacious home, or much more luxurious house or different handle for a person motive or yet another.”

The Volk Estates mansion shut in four months which, presented its selling price tag, is a testomony to the energy of the substantial-stop industry, Perry mentioned.

“If I experienced 30 or 40 $5-million-in addition qualities and I experienced the time in the day, I could sell them all at marketplace value,” Perry mentioned. “By industry value, I suggest at the cost they should promote at. I pretty much could promote them in a working day.”

To see photos of the mansion, simply click here.