His name is associated with some of the biggest buys in Dallas.
Development mogul Mehrdad Moayedi—the CEO of Centurion American Development Group, who recently wrapped up a $250 million renovation of the historic Statler Hotel & Residences downtown—just scored the keys to the 28,000-square-foot Crespi Estate, one of the city’s largest, most prominent homes, for a cool $36 million. Originally designed by prominent Swiss architect Maurice Fatio in 1939 for Italians Pio and Florence Crespi, the French château sits on 25 acres in the wealthiest slice of Preston Hollow. (Former President George W. Bush is a neighbor.) “The quality, history and pure ambiance is something special, and I fell in love with it,” Moayedi says. His plans include restoring the estate and surrounding 12 garden-filled, forested acres to their original splendor while divvying up the rest into seven parcels for new, single-family homes. The forthcoming Crespi Estates are up for grabs, though rumor has it a celeb is already vying for one of the lots—so act fast.
THE TECH EFFECT
Seeing lots of Compass Real Estate signs? Here's why.
Manhattan-based Compass Real Estate, which bills as a technology company that sells real estate, launched its first office in DFW shortly after the new year. Compass acquired The Collective, a seedling luxury real estate boutique founded by former Briggs Freeman Sotheby’s star producers Christy Berry and Jonathan Rosen, and has attracted top producers from almost every luxury brokerage in town. With Compass’ creators’ Wall Street and techy backgrounds––Robert Reffkin spent time at Goldman Sachs and McKinsey & Company, while Ori Allon sold his first company, Orion, to Google and his second, Julpan, to Twitter in 2011––the agent-centric brokerage boasts a full-time tech department. In the past five years, Compass has grown to a $2.2 billion company with more than 40 offices in cities nationwide. The company goal? Twenty percent of the U.S. real estate market by 2020.