Breaking Dallas Real Estate News: Tom and Cinda Hicks Put the Crespi Estate on Market with Douglas Newby: $135 Million

Share News:

Fasten your seatbelt, it’s going to be a wild ride in real estate this spring. The ink is not yet dry on our post detailing 5911 Glendora, Howard and Cindy Rachofsky’s family home that just hit the market. Now I’ve discovered that, while it is NOT in MLS, Douglas Newby is indeed marketing the 25 acre estate of Thomas O. and Cinda Hicks on Walnut Hill Lane and Hollow Way Road.




For years, the Crespi Estate has headed every list of the Most Expensive Home in Dallas. But, having been inside it, I can tell you this home is about so much more than money. There was speculation when former President Bush bought his home on Daria that he wanted to be near the Hicks, and perhaps utilize their helicopter landing area. (Hicks does not have a concrete helicopter pad, I learned at the time, but he does have the lighting.) The Hicks have a rear auto estate entrance just a few feet from the Dallas North Tollway service road. The Hicks family hosted numerous Mayflower Estates homeowners meetings introducing the Bushes to the neighborhood.

Crespi Estate Photo Sunroom

According to Doug, Mr. and Mrs. Hicks acquired the Crespi estate 16 years ago and Cinda spent five to ten years completing the architectural vision of the original architect, Maurice Fatio. She brought in international architect Peter Marino from New York and worked painstakingly on the home, refining and honoring Fatio’s proportions and architecture. I have heard from knowledgeable sources they spent close to $100 million on the expansion and remodel.  The Hicks have raised six children in the house and are now empty nesters in a home DCAD sizes up at 28,996 square feet for the main structure, 6300 for the guest house, and 7200 for the pool house. That might be a little large for two people, eh? Tom Hicks is the former chairman of Hicks, Muse, Tate & Furst, an investment banking firm, and he once owned the Stars and the Rangers. Hicks sold the Rangers for around $590 million in 2010. He recently just this January settled disputes with Texas Rangers Baseball Partners administrator Alan Jacobs. He is now the chairman of Hicks Holdings and currently making several exciting business acquisitions.

Doug says the dirt in Mayflower Estates is valued at $2 million per acre, which would be about $50 million, and the residence with pool house, guest house and main house comprises 42,500 square feet for a grand total of $85,000,000. 

 Crespi Estate Entry

So it appears it will take $135,000,000 to buy The Crespi Estate. Did I get all those zeros right? This makes Mt. Vernon look like a Blue Light Special.

But really, $135 million is nothing for the most refined, sophisticated residence in Texas on an expansive 25 acre estate that is merely 8 minutes from downtown Dallas, the Arts District, 40 minutes from D/FW or really, what matters, 15 from your private jet hangar at Love Field. I have been in this home and seen what the Hicks have created and it would be impossible, impossible to replicate it.  A new owner could even add a stable: one horse per acre in Preston Hollow!

As Doug described it so aptly in this post for The Huffington Post:

“A winding private drive descends to the home beautifully placed in front of a creek flowing across the 25-acre estate property. It is majestic, dignified and graceful. The home is also warm and fun. The design exudes elegance and the architecture, a subtle power. The architectural massing of the main house, guest house and pool house convey a home that is grand yet serves primarily as a place for a family to live. The sensibility for the past is blended skillfully with the technology and resources of the present, presenting visual continuity. The estate owners honored the original family, architecture and history of the home with an inspired approach — one that creates the impression that the home has not been renovated or expanded, but truly and magnificently completed.

To be continued, stay very tuned…

Oh and where did all the pictures go? Gracious Doug Newby kindly let me keep them posted for a few days, but to see more, and I mean way more, click right here over to his site.


 

Candy Evans, founder and publisher of CandysDirt.com, is one of the nation’s leading real estate reporters.

82 Comments

  1. […] The Crespi Estate is listed for sale by real estate agent Douglas Newby & Associates. And the asking price will be a whopping $135 million, according to real estate blogger Candy Evans. […]

  2. […] The Crespi Estate is listed for sale by real estate agent Douglas Newby & Associates. And the asking price will be a whopping $135 million, according to real estate blogger Candy Evans. […]

  3. […] holds true, especially when it comes to the gargantuan $135,000,000 asking price they’re rumored and reported by Candy Evans at Dallas DIrt to have quietly slapped on their epic, 25 acre estate in the fancy-schmancy Mayflower Estates […]

  4. […] holds true, especially when it comes to the gargantuan $135,000,000 asking price they’re rumored and reported by Candy Evans at Dallas DIrt to have quietly slapped on their epic, 25 acre estate in the fancy-schmancy Mayflower Estates […]

  5. […] to Dallas real estate blogger Candy Evans, land in Mayflower Estates commands a lofty $2 million per acre, accounting for $50 million of the […]

  6. […] to Dallas real estate blogger Candy Evans, land in Mayflower Estates commands a lofty $2 million per acre, accounting for $50 million of the […]

  7. […] to Dallas real estate blogger Candy Evans, land in Mayflower Estates commands a lofty $2 million per acre, accounting for $50 million of the […]

  8. […] to Dallas real estate blogger Candy Evans, land in Mayflower Estates commands a lofty $2 million per acre, accounting for $50 million of the […]

  9. […] to Dallas genuine estate blogger Candy Evans, land in Mayflower Estates commands a lofty $2 million per acre, accounting for $50 million of a […]

  10. […] to Dallas genuine estate blogger Candy Evans, land in Mayflower Estates commands a lofty $2 million per acre, accounting for $50 million of a […]

  11. […] really good folks because Morgan Brennan gave me lots of link love last week, it looks like that $135 million price tag for the Hicks-Crespi Estate is the new high for not just Dallas real estate, but U.S. real […]

  12. […] really good folks because Morgan Brennan gave me lots of link love last week, it looks like that $135 million price tag for the Hicks-Crespi Estate is the new high for not just Dallas real estate, but U.S. real […]

  13. […] also think that when buyers see billionaires putting their homes on the market, like the $130 million home of Tom and Cinda Hicks, it encourages more people to stick a toe in the water and make a move. In fact, that’s […]

  14. […] also think that when buyers see billionaires putting their homes on the market, like the $130 million home of Tom and Cinda Hicks, it encourages more people to stick a toe in the water and make a move. In fact, that’s […]

  15. […] now we all know about the Hicks-Crespi estate on Walnut Hill Lane at Hollow Way, breathtaking  beautiful and the most expensive home for sale not just in […]

  16. […] now we all know about the Hicks-Crespi estate on Walnut Hill Lane at Hollow Way, breathtaking  beautiful and the most expensive home for sale not just in […]

  17. […] was just thinking wowzers, that’s less than the Hicks Crespi estate, and I sure hope they had umbrellas down there […]

  18. […] was just thinking wowzers, that’s less than the Hicks Crespi estate, and I sure hope they had umbrellas down there […]

  19. […] business honcho Tom Hicks has put his vast, lush Dallas, Texas, spread on the market for a staggering—nay, otherworldly—$135M, making it the priciest megamansion in the country […]

  20. […] business honcho Tom Hicks has put his vast, lush Dallas, Texas, spread on the market for a staggering—nay, otherworldly—$135M, making it the priciest megamansion in the country […]

  21. Dallas Landmark Sees Steep Price Cut on August 9, 2013 at 3:01 pm

    […] at $19.5 million. However, all three pale in comparison to Dallas’ finest pocket listing: the $135 million mansion of former Texas Rangers owner Tom Hicks, which Candy mentions is currently being marketed […]

  22. Dallas Landmark Sees Steep Price Cut on August 9, 2013 at 3:01 pm

    […] at $19.5 million. However, all three pale in comparison to Dallas’ finest pocket listing: the $135 million mansion of former Texas Rangers owner Tom Hicks, which Candy mentions is currently being marketed […]

  23. Moxiecon on December 28, 2017 at 6:22 am

    this is really nice to read..informative post is very good to read..thanks a lot!

  24. Realtor White Rock on March 20, 2019 at 3:09 am

    These are some great tools that i definitely use for SEO work. This is a great list to use in the future..

Leave a Comment