Downsizing in Dallas
In his effort to downsize, 89-year-old Dallas energy tycoon T. Boone Pickens has sold his Preston Hollow mansion at 9434 Alva Ct.
Dallas energy investment firm executive John Calvert and his wife bought the Preston Hollow property, according to The Dallas Morning News. The home had been listed for $6 million; however, the purchase price wasn’t disclosed.
The 8,906-square-foot, Mediterranean-style estate was built by Jim Shaw in 1996 and designed by noted architect Wilson Fuqua. The mansion features two bedrooms, guest quarters with one bedroom, three bathrooms, three half-bathrooms, a three-car garage, antique French Quarter limestone floors, walnut and cherry patterned flooring, a swimming pool, gardens, fountains, and statuaries. The home sits on a wooded one-acre lot.
Ryan Streiff of Dave Perry-Miller Real Estate represented Pickens. The home had been on the market for 98 days, the agent says.
“It was an honor to represent such a fine estate home,” says Streiff in a release, “but an even greater honor to represent one of Dallas’ treasured icons in Mr. Pickens.
One down, one to go. Pickens is still trying to find a buyer for his massive ranch in the Texas Panhandle.
Pickens, who turns 90 in May, is shedding his mansion and his ranch after shutting down his energy hedge fund, BP Capital, and as he slows down after suffering a series of strokes in 2017 as well as a serious fall. He now lives in a Dallas condo.
Pickens’ Mesa Vista Ranch is about 85 miles northeast of Amarillo. The ranch, which encompasses 64,809 acres, is on the market for $250 million.
"People who haven’t been here might say, ‘Well, I’m not going to pay $250 million,’” Pickens told CNBC. “I say to them, ‘Just come look at it.’ And then see what you think.”
When the ranch went up for sale in November, Pickens said he was ready to put Mesa Vista in someone else’s hands.
“Selling the ranch is the prudent thing for an 89-year-old man to do. It’s time to get my life and my affairs in order,” Pickens wrote on LinkedIn. “There are many reasons why the time is right to sell the ranch now, not the least of them ensuring that what I truly believe is one of the most magnificent properties in the world winds up with an individual or entity that shares my conservation ethic.”