Texas billionaires are famous throughout the world for their lavish spending habits, and now Andy Beal has contributed another piece of ammunition for this stereotype. It's the purchase of a mansion and surrounding property known as the Crespi estate, which with its $100 million price tag ranks as by far the most expensive Texas home ever sold.
Actually, Crespi was originally priced even higher than that, first listed a few years back for $135 million. Evidently the home buying market wasn't strong enough to support such an asking price, even in Texas, but now a buyer has finally been found. It's not known exactly what Beal paid for the property, but the most recently listed price was the aforementioned $100 million figure, and in any case, it's safe to say the house ranks as the most expensive single family home ever purchased in Texas, since the closest runner-up was sold for around $20 million. The Crespi mansion was originally constructed in 1938, and was purchased from the Crespi family back in 1997 by Tom and Cinda Hicks, when, interestingly, the sale was handled by the same listing agent as the most recent sale of the property: Allie Beth Allman.
The 25-acre property was the subject of a tour in March of last year by Candy Evans of the Dallas real estate publication Candy's Dirt. Back then, she gushed about the estate so much that it seems she probably would have put up the $100 million herself if she could have – here's an excerpt:
"The approach to the private gates of 10000 Hollow Way Rd. feels more like a drive through the French countryside to a fabulous chateau deep in the heart of the forest. It's hard to believe this is just seconds from the Dallas North Tollway and less than 10 minutes from downtown."
Andy Beal is reportedly worth more than $10 billion, so dropping a hundred million or so on a house isn't too big a deal for him. And when you look at all of the amenities the property includes it begins to seem like a steal: The Crespi estate includes the main house covering 28,000 square feet and a 3,347-square-foot guest house, as well as plenty of beautiful scenery. A tennis court and helipad can also be found on the property, plus multiple gardens, a greenhouse, walking trails, and a pond. Then there's the 500-bottle wine cellar, a library with French paneling dating back to the early 19th century, and even a movie theater.