Why this Preston Hollow Home on 25 Acres Could Appreciate in Value
More Than Any Home in the United States
There are many factors that support the expectation that the Crespi / Hicks Estate, over the next ten years, will increase in value more than any other home in the United States. This estate property is located in the economically strongest city and region in the country.
It is on the best site in the best neighborhood, with the finest private schools, only 8 minutes from the Arts District and downtown Dallas, and only 15 minutes from an airport, and the Crespi / Hicks Estate has a helicopter landing area. Most important, the home is sited on 25.25 acres, the largest estate property in a major city anywhere in the United States. It also has a home with one of the most important architectural pedigrees, making it impossible to replace or match.
The Economic Center of the United States is Subtly and Surely Moving to Texas and Dallas
Texas has four of the ten fastest growing cities in the nation. Texas rivals New York and California for the greatest number of Fortune 500 corporate headquarters, with Dallas becoming an increasingly attractive destination for corporations. Just as the wealth in the country was concentrated in New York in the early part of the 20th century, resulting in important homes, now in the early part of the 21st century wealth is shifting to Texas, resulting in significant homes in Dallas.
Within an average of a mile of the Crespi / Hicks Estate, one will find the homes of eight billionaires. In fact, Preston Hollow has more billionaires than it has estate properties, with six or more acres of land. The Crespi / Hicks Estate is on 25.25 acres.
Land Appreciates in Value, Not Houses
A home goes up in value primarily because the land that it is on goes up in value. Since the Crespi / Hicks Estate is on the largest estate property in any major city in the country, then it is reasonable to conclude that the Crespi / Hicks Estate will increase in value more than any other home in the United States.
Over the last 15 years of a very cautious real estate market in Dallas, the land prices of this Dallas neighborhood have doubled in value every seven years for the last 15 years. If the land continues to appreciate at even a minimum of this rate, the land alone should be worth $135,000,000 in the next 10 years. The Crespi / Hicks Estate home itself is also one of the rare homes that has the possibility of appreciating itself, in addition to the land, as the quality and artisanship of this estate structure becomes increasingly rare.
Location, Location, Location
While the site of a home might have even more specific long term benefits than the location, the Crespi / Hicks Estate home is on the best original site in Dallas and it is in the most favorable location.
Dallas Has the Largest Contiguous Arts District in the Country and it is Only Eight Minutes from Crespi Hicks Estate
You will enjoy being only eight minutes from the largest contiguous Arts District in the country. In Dallas you will find museums, theaters, symphony and opera halls designeed by five Pritzker Prize-winning architects, surrounded by a vibrant commercial center with luxury highrise residences being built.
Preston Hollow is Associated with the Elite Private Schools
Nationally lauded and heavily endowed private schools are attracting the brightest students from across the city to Preston Hollow. These schools are one of the reasons families are moving from the most affluent suburbs with very good schools to the Preston Hollow neighborhoods, to be close to the best schools.
Mayflower Estates is Most Prestigious Neighborhood Within Preston Hollow
Mayflower Estates is a small prestigious neighborhood of curving streets along creeks and ponds and includes approximately 75 architect-designed homes owned by influential business, civic, philanthropic leaders, including President and Mrs. Bush. Among the homes adjacent to the Crespi / Hicks Estate is the second largest estate property in Dallas, with approximately 12 acres.
Once in a Generation an Extraordinary Home with this Architectural Pedigree Might Come on the Market
Once in a generation an extraordinary home in the United States might come on the market. The Crespi / Hicks Estate offered for sale is just such a home. Sited on 25 acres, the home has a rich architectural pedigree: the genius of the original architect, Maurice Fatio; the grace of landscape architect Arabella Lennox-Boyd; the brilliance of the renovation architect, Peter Marino, who honored, and further refined, the powerful architecture and perfect proportions that Maurice Fatio was known for in New York and Palm Beach in the 1920s and 1930s and are still celebrated today.
Crespi Hicks Estate – Most Value in the United States
The Crespi / Hicks Estate offered at $2,000,000 per acre of land and $2,000 per square foot for the main house, pool house and guest house offers a tremendous value for the purchaser. The estate consists of the 28,996 square foot main house, the 6,318 square foot guest house and the 7,188 square foot pool house and a few other structures. The land consists of 25.25 acres of rolling topography, forest, creek, pond and gardens.
Largest Estate Property in a Major United States City
Sited on 25 acres, the home is placed at the bottom of the hill and in front of a spring fed creek and forest. This Preston Hollow acreage creates the largest estate property found in any major U.S. city and is located just eight minutes from an Arts District and thriving city center.
25 Acres of Preston Hollow Estate Land Makes
This Home Best Residential Investment in Dallas
The large amount of land, 25 acres, in the most prestigious neighborhood of Preston Hollow, Mayflower Estates, makes the Crespi / Hicks Estate property the best residential investment in Dallas. Even during the last 16 years when the Dallas real estate market was rather subdued, the acreage in Mayflower Estates doubled in value every seven or eight years.
Now Dallas is rapidly growing and experiencing the benefit from the last 20 years of philanthropic contributions and business leaders making investments in the city. If the value of land in Dallas continues at its current pace, the land alone will be worth the listing price in 10 years.
Preston Hollow is Private School Corridor
Some of the nation’s finest private schools are a few minutes from the Crespi / Hicks Estate. Preston Hollow has always been the neighborhood of choice for families with children attending elite preparatory schools.
Dallas is Economically the Most Vibrant City in the Nation
Dallas was the first U.S. city to come out of the recession. Even if the prices of homes rapidly increases, there will still be a vast pool of qualified buyers in Dallas. Buyers in the city of Dallas have the highest incomes in relationship to the price of the homes they are buying.
Preston Hollow Neighborhood is Home to Many Billionaires
The Preston Hollow neighborhood has a high concentration of billionaires within a mile of this estate home. Texas benefits from rivaling New York and California for the most Fortune 500 corporate headquarters. Major corporations and private wealth continue to relocate to Dallas. Dallas is a property rights city in a property rights state that has no income tax.
Downtown Dallas is Bursting With Energy and Architectural Accomplishments
You will enjoy the location of the Crespi / Hicks Estate as it will allow you to be only eight minutes from the symphony hall, art museums, opera house and theaters. Downtown Dallas is thriving with residents filling new luxury highrise homes. The recently opened Klyde Warren Park, spanning over a depressed highway, has linked the center of the city with the adjacent neighborhood of restaurants, residences and luxury office space.
Pritzker Prize-Winning Architects Design Cultural Landmarks in Arts District
Pritzker Prize-winning and other internationally acclaimed architects have designed important museums, symphony halls, an opera house, theater, and performance spaces and a school for the arts. Edward Larabee Barnes designed the Dallas Museum of Art, I.M. Pei designed the Meyerson Symphony Center, Rem Koolhaas and Joshua Prince-Ramus designed the Wyly Theater, Thom Mayne designed the Perot Musuem of Nature and Science, Brad Cleopfil designed the Booker T. Washington High School for the Performing and Visual Arts and Renzo Piano designed the Nasher Sculpture Center. Also close by, Santiago Calatrava designed the mile-long, 50-story high Margaret Hunt Hill Bridge over the Trinity River.
These buildings house great art and provide acclaimed performances and exhibits that Dallas residents and guests enjoy. It took 30 years of planning and philanthropy and investment to create the Arts District, which is just now close to completion with the opening of the Perot Museum and Klyde Warren Park.
City Manager Form of Government
The Dallas City Council acts as a board of directors for a city manager who runs the city. This efficient form of city government avoids patronage problems experienced by many cities and it provides a healthy political platform for continued growth. Mary Suhm is considered the best city manager in the country and Mayor Mike Rawlings is an experienced and successful businessman who is passionate about the future of Dallas and is accomplishing much.
Maurice Fatio – Architect, Peter Marino – Renovation Architect,
Arabella Lennox-Boyd – Landscape Architect
It is not by chance the Crespi / Hicks Estate is the finest estate home in America. The Swiss born architect Maurice Fatio was New York’s most popular architect in the 1920s and Palm Beach’s finest architect in the 1930s. Peter Marino is an international architect based in New York who has a profound understanding of Maurice Fatio’s sense of proportions and detail. London-based Arabella Lennox-Boyd created linked formal gardens that draw together the main house, guest house and pool house into one cohesive estate home. Arabella Lennox-Boyd created a landscape of meadows, ponds, park land, formal gardens, rose gardens, vegetable gardens, kitchen gardens and a winding approach that sweeps across the meadow to the entrance of the motor court. The talent of these three architects and the cultivated eye of the owner created this architectural triumph.
Video of Crespi / Hicks Estate Property
Here you will find several articles on the Crespi / Hicks Estate and over 300 photographs of the Crespi / Hicks Estate, including the original construction photographs and photographs from when Florence Crespi owned the estate and information on architect Maurice Fatio and designer and architect Peter Marino.
Contact Realtor Douglas Newby for Insights on This Home for Sale
Douglas Newby represents clients with Dallas estate homes, architect designed homes and modern homes.