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5323 Park Lane Sold, Closed, Most Expensive Dallas Real Estate Transaction To Date?

The beautiful Preston Hollow estate of Joyce and Larry Lacerte closed yesterday, opening a new chapter for one of Dallas’ largest homes that has entertained scores of dignitaries and raised millions for Dallas charities. The seller’s agent, Ralph Randall of Dave Perry-Miller, an Ebby Halliday Company, is likely depositing his commission check(s) at several Dallas banks to ensure FDIC  coverage. The 26,620 square foot home is set on almost 9 acres of land in the honeypot of Old Preston Hollow. The estate was constructed circa 1991-1993 by a team including architect Cole Smith,  Smith/Ekblad & Associates, Sherry Hayslip-Smith, Hayslip Design Associates and Cole Smith, Jr., Crowbar Contractors.  It contains  a racquetball court, exercise room and locker rooms adjacent to a near Olympic-sized natatorium, bowling alley, wine cellar with tasting room, an Orangerie conservatory overlooking interlocking Koi ponds loaded with about a million dollars worth of Koi, tennis court, baseball diamond and a private lake. Ralph Randall now rules as the high priest of Dallas’ most expensive real estate. Agent to the John Muse family, he participated in the sale of the most expensive home in Highland Park when he helped John and Lyn acquire their lot at 4800 Preston Road, and Ralph has now sold the most expensive home in Old Preston Hollow to date.

From what I hear, 5313 Park Lane was originally listed last year for $45 million, recently lowered to just under $40 million. ( Zillow had it “zestimated” at $26,063,000.) According to my sources,  it sold for about $30 million-ish, and the buyer, Kelsey Warren,  asked for an outside appraisal.  Buyer’s agent was Rosie Waters of Allie Beth Allman and Associates, who is married to football legend Charlie Waters, who I believe works for Mr. Warren.

The Lacerte home has entertained, among others,  Prince Edward, former President George W. and Laura Bush,  Senator Kay Bailey Hutchison, Jaap van Zweden, and Caroline Rose Hunt, among others, plus feted countless Dallas charity galas and pre-galas.

Re-Fi SOS

A reader writes:

“If we missed out on the 4.5% refi rates, have we basically missed the boat?  What would make it worth it now to still refi?”

Good question, we’ll find an expert and try to get you some answers!

Dallas Deal Estate — a REAL Estate Sale in Preston Hollow

 That would be5915 Desco, one of Preston Hollow’s most magical streets, perfectly located west of Preston, east of the Tollway, and all verdant green green green. This pup is a 1951 brick ranch that has been expanded (8232 square feet) and updated with guest quarters, tennis court, pool. With 1.22 acres, this is like having a country club in your back yard. In fact, it’s better! Home is beautifully maintained and I’m sure some builder is eyeing it to strip the carcass bare and build a new behemoth from one end of the acreage to the other — so someone buy this home now, please, to save it. Great point: sprawling master bedroom is on the first floor, perfect for empty nesters or the gently aging baby boomer with bad knees from playing too much college football!

Update: This home is listed for $1,995,000 — 1.22 acres in the honeypot. Unbelievable.