A Twenties mansion within the unique Volk Estates space of College Park in Dallas has offered for $21.5 million.
UNIVERSITY PARK, Texas — A Twenties mansion within the unique Volk Estates space of College Park in Dallas has offered for $21.5 million — one of many largest house gross sales within the metropolis in a minimum of the previous decade.
This mega-sale closed in late January to a purchaser relocating to Dallas from California, stated Alex Perry of actual property agency Allie Beth Allman & Associates, who represented the vendor.
“1.8 acres in College Park, and particularly Volk Estates, which is the property a part of College Park, actually makes it particular,” Perry stated in an interview with the Dallas Enterprise Journal. “You’ve gotten the gated entry, which is grandfathered in, the tennis court docket grandfathered in, and the truth that you will have outdated meets new.”
The home on Hunters Glen Street was in-built 1927, however the inside was utterly transformed in 2012-13, so it appears like a less-than-10-year-old house, but the leafy grounds and the Georgian-style house’s design and development give it a traditional, genuine feel and look, Perry stated.
The Volk Estates house’s grounds are made up of an array of personal gardens and courtyards, in addition to a placing inexperienced and tennis court docket surrounding the grand three-story house with columned entryway.
The house sale was the most important in Dallas for the reason that Crespi Property in Preston Hole offered at public sale for $39.2 million in February 2018, Perry stated.
Prosperous California patrons are pouring into the high-end market within the Park Cities, Preston Hole and different prime neighborhoods, contributing to a extreme scarcity of homes within the $5 million and up vary, Perry stated.
“There’s an enormous, large scarcity of stock,” he stated. “It is not simply out-of-towners. It is also individuals in Dallas who need to change addresses to your extra spacious house, or extra luxurious house or completely different handle for one cause or one other.”
The Volk Estates mansion closed in 4 months which, given its price ticket, is a testomony to the energy of the high-end market, Perry stated.
“If I had 30 or 40 $5-million-plus properties and I had the time within the day, I might promote all of them at market value,” Perry stated. “By market value, I imply on the value they need to promote at. I actually might promote them in a day.”
To see pictures of the mansion, click here.