One of the most deliciously beautiful estate settings in Preston Hollow has sold. The Ginsburg, formerly Heath (as in BeautiControl) property at 4707 Park Lane closed last week. This hefty sale just may be an omen of what the Dallas spring market will be like: on fire. Actually, that’s a bad choice of words, I guess, because 4707 Park was once the stunning estate home of Dallas billionaire Scott Ginsburg, Chairman and CEO of DG FastChannel as well as Founder of Boardwalk Auto Group. Unfortunately, a devastating fire broke out and totaled the home in 2003. The fire department had a tough time getting in because of the massive locked gates. Scott lived in an interim house, then he and his darling wife Gina bought 3500 Beverly Drive in Highland Park and the lot next door, in June of 2010. 3500 was the largest and most expensive spec home ever built in Dallas, originally listed for $17.5 million. Scott snatched it up for a wee bit over $11 million.
The 4.66 acre estate at 4707 Park Lane was originally listed at $10.25 million dollars, then reduced to $8.5, then $7.2.
Ginsburg tore down the main residence but retained the guest house (above), tennis court, pool, and 5 car garage.
Ginsburg bought 4707 Park from Dick and Jinger Heath, the founder of BeautiControl Cosmetics, on March 7 of 2000. Ellen Terry handled the sale and it was the most expensive residential sale of a home in Dallas at the time: $22 million. The record was broken, of course, when energy transfer magnate Kelcy Warren snapped up the Lacerte home a little east on Park at 5323 for just under $30 million. That home had been listed for as high as $45 million, listing agent was darling Ralph Randall. Mr. Warren has been busy naming parks and buying real estate in Roatan, Telluride CO and elsewhere, I’m told.
So I know what you all want to know: how much? Everyone around the sale is keeping quite mum, but word on the street is that the entire package went for not quite six million with maybe some other creative thingees from Mr. Ginsburg tossed into the deal — a car, other property? As one observer said: it was the most creative deal I’ve ever seen. Buyers are a lovely family from
Arlington Irving who snapped up the estate to build one of their own — he a self-made man who made his fortune in the restaurant business — and to be closer to their children’s private schools in Dallas. From what I’m hearing, the plans are for a contemporary mansion.
The home that burned was a classically styled residence, designed by renown architect Cole Smith who also, of course, created the Lacerte/Warren estate with Orangerie down the street. Designer Sherry Hayslip, tells me it was an incredible moment in her career.
“I was working with an astonishing architect who led us all in understanding the nuances of creating a period building without copying anything,” she says. “It was the real beginning of my learning about classical detailing.”
Some years later, she married that architect. The clients expected excellence, she says, and it was exciting to deliver it. There was also a lot of passion and some hot tempers on all sides but in the end, the final product was a sensational classically detailed house, very elegant. A French architectural specialist, in Dallas to lecture, toured 4707 Park Lane and declared it comparable to a great Parisian residence. The view from the home gazing at the stair-stepped waterfall was one of the most spectacular ever — I’m privileged to have seen it.