A stone mansion in the middle of a Texas neighborhood known for its high concentration of billionaire residents is headed to auction without reserve later this month.
The French Chateau-style home in the affluent Dallas suburb of Preston Hollow will go under the hammer live on July 20, with Elite Auctions, according to a news release from the firm.
“It’s an amazing neighborhood,” Tara McLean, president of Elite Auctions, told Mansion Global. “This is a great starting point for anyone who wants to get into Preston.”
Residents of the tony community—about five miles north of downtown Dallas—include former President George W. Bush; billionaire Mark Cuban; former presidential candidate Ross Perot; and former Dallas Cowboy Roger Staubach, according to the release.
The four-bedroom home spans close to 8,000 square feet and has a driveway embellished with a limestone fountain, a marble foyer and a custom floating iron staircase, according to the listing.
There’s also a game room, a media room, a newly renovated kitchen, a 38-foot-long covered loggia and landscaped gardens.
The owners, a retired insurance executive and the president of a philanthropic foundation, bought the lot in 2000, records with PropertyShark show, though Mansion Global could not determine how much they paid.
The home was built in 2002, and they first tried to part with it in 2015 for a little under $3 million, listing records show.
The sellers “already have plans in place and they want to set a deadline for selling the home. With an auction we can create a sense of urgency,” Ms. McLean said.
Read Mansion Global’s full article HERE.