$100 million mansion

Famously expensive Dallas house goes on the auction block

Famously expensive Dallas house goes on the auction block

10000 Hollow Way Walnut Place in Dallas
The home at 10000 Hollow Way Rd. once was listed for $100 million with Allie Beth Allman & Associates. Photo courtesy of Allie Beth Allman & Associates
Pond at 10000 Hollow Way Walnut Place in Dallas
Walnut Place sits on 25 acres in Preston Hollow. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way garden
A garden on the property. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way main house foyer
The foyer in the main house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way main house living room
A living room in the main house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way main house kitchen
The kitchen in the main house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way main house library
The house has a library. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way main house morning room
There's a cozy morning room. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way main house office
The office in the main house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way main house bar
The bar in the main house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way main house conservatory
The conservatory in the main house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way main house dining room
The formal dining room in the main house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way main house master bedroom
Master bedroom in the main house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way master bath
The opulent master bathroom in the main house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way her master closet
Her master closet. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way her master sitting area
Her sitting area in the master suite. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way his master closet
His master closet. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way wine room
There is an extensive wine room. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way rec complex living room
Living room in the recreation building. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way rec complex kitchen
Kitchen in the recreation building. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way rec complex theater
Theater in the recreation building. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way guest house living room
Living room in the guest house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way guest house dining room
Dining room in the guest house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way guest house bedroom
Bedroom in the guest house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way guest house bedroom
Bedroom in the guest house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way guest house bathroom
Bathroom in the guest house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way guest house bathroom
Bathroom in the guest house. Photo courtesy of Allie Beth Allman & Associates
10000 Hollow Way Walnut Place in Dallas
Pond at 10000 Hollow Way Walnut Place in Dallas
10000 Hollow Way garden
10000 Hollow Way main house foyer
10000 Hollow Way main house living room
10000 Hollow Way main house kitchen
10000 Hollow Way main house library
10000 Hollow Way main house morning room
10000 Hollow Way main house office
10000 Hollow Way main house bar
10000 Hollow Way main house conservatory
10000 Hollow Way main house dining room
10000 Hollow Way main house master bedroom
10000 Hollow Way master bath
10000 Hollow Way her master closet
10000 Hollow Way her master sitting area
10000 Hollow Way his master closet
10000 Hollow Way wine room
10000 Hollow Way rec complex living room
10000 Hollow Way rec complex kitchen
10000 Hollow Way rec complex theater
10000 Hollow Way guest house living room
10000 Hollow Way guest house dining room
10000 Hollow Way guest house bedroom
10000 Hollow Way guest house bedroom
10000 Hollow Way guest house bathroom
10000 Hollow Way guest house bathroom

One of the grandest mansions in Dallas — owned by billionaire banker, investor and philanthropist Andy Beal — is going on the auction block in mid-December, not even two years after he bought it.

The 25-acre Crespi/Hicks Estate, now known as Walnut Place, initially went up for sale in 2013 at the eye-popping price of $135 million. There were no takers.

Two years later, the asking price fell to $100 million, still the most expensive in Dallas then and one of the priciest in the nation. Beal bought the mansion in early 2016 from Tom and Cinda Hicks, but reportedly for far less than $100 million.

Earlier this year, the list price for the swanky Preston Hollow spread dropped to $48.9 million after Beal decided to sell it, but there haven’t been any takers yet. So, on December 19, Concierge Auctions will offer the property to qualified bidders. This time around, the estate will be sold “without reserve,” meaning it’ll go to the highest bidder regardless of price.

Beal describes the estate as “a one-of-a-kind property on a global scale.”

“It’s an incredible property by all standards,” Beal tells CultureMap.

High-profile Dallas real estate agent Allie Beth Allman has the Walnut Place listing. Ethan Shadden of Concierge Auctions is the auction’s sales manager. The estate is at 10000 Hollow Way Road.

No doubt, the estate will fetch eight figures, but it’s anyone’s guess as to whether it’ll garner bids that come close to the most recent list price of $48.9 million.

Whatever the price tag, here are some of the features that the new owner will enjoy:

  • 10 bedrooms
  • 12 full bathrooms and five half-bathrooms
  • 27,092 square feet of space across four structures
  • A 3,347-square-foot guest house with formal living and dining rooms, a family room, and an office
  • A master wing encompassing more than 3,000 square feet, complete with an antique fireplace, private terrace, his-and-hers dressing rooms, and marble spa tubs
  • A 4,836-square-foot recreation and pool house with a 19-seat theater
  • A 500-bottle wine cellar and tasting room
  • Two home offices
  • A formal library
  • A greenhouse
  • A pond
  • A helipad

The limestone façade mansion, dating back to 1938, was designed by renowned architect Maurice Fatio for Pio Crespi, an Italian count who had been dispatched to Dallas to oversee his family’s cotton empire.

Tom and Cinda Hicks — Tom is former owner of the Texas Rangers and Dallas Stars — bought the estate in 1997 through Allman. From 2000 to 2003, the property underwent an extensive restoration and expansion (reportedly costing more than $100 million) that was undertaken by 250 craftsmen. Among those leading the project were Dallas builder John Sebastian, New York architect and interior designer Peter Marino, and London landscape architect Arabella Lennox-Boyd.

Beal purchased the estate from Tom and Cinda Hicks in January 2016; at the time, it was billed as the most expensive residential property in Texas. Beal turned around and put the property back on the market in January 2017.

The approach to the private gates of 10000 Hollow Way Rd. feels more like a drive through the French countryside to a fabulous chateau deep in the heart of the forest. It’s hard to believe this is just seconds from the Dallas North Tollway and less than 10 minutes from downtown.

The estate overlooks a forest of trees and a creek that runs through the property. There are meadows, trails, pond, rose and vegetable gardens, greenhouse, two courtyards lined with 16 magnolia trees each and tennis court. A helipad with a lighted landing pad is covered with grass when not in use to maintain the natural aesthetic. A 1,500-foot-deep well supplies the estate grounds with purified water.

Whoever buys the mansion will be a Preston Hollow neighbor of former President George W. Bush and Laura Bush.