A prominent Dallas developer has acquired a high-profile estate in Preston Hollow, one of the city’s most expensive residential neighborhoods.
Mehrdad Moayedi, founder of Centurion American, purchased the property at 10331 Strait Lane through an LLC last month, according to county records. The home was previously listed for $17.9 million last year but did not sell. It returned to the market this spring with a price tag of $15.9 million and was ranked among Texas’ top 10 most expensive new listings in April by the Houston Association of Realtors. The final sale price has not been made public.
The Tudor-style estate sits on a two-acre lot within its own subdivision called Polka Park. Steven Ross, who founded Husky’s parent company and is known for his work in plastics manufacturing in Grand Prairie, established the subdivision in 2007 and transferred ownership to his daughter Rachel Polka in 2008. She was the seller of the property.
Construction and sales were handled within family circles as well. Barry Buford built the house in 2007, while his wife Lucinda Buford, an agent at Allie Beth Allman and Associates, managed the listing.
The residence features six bedrooms across 18,000 square feet and includes amenities such as a pool, tennis court, batting cage, and indoor basketball court.
Moayedi is active both in large-scale single-family community development through Centurion American and luxury homebuilding via Crescent Estates Custom Homes. Crescent Estates is currently working on projects like Residences at Routh condos in Turtle Creek and selling properties at Crespi Estates—a collection of spec mansions developed from parcels of Preston Hollow’s landmark Crespi Estate manor.
According to a spokesperson for Moayedi’s company, he intends to remodel rather than redevelop the Strait Lane property.
Strait Lane is recognized as one of Dallas’ most prestigious streets; notable residents have included Ross Perot Sr., Toby Neugebauer (billionaire), Scott Everett (S2 Capital founder), and Bob Carter (Panda Biotech CEO).
Recent trends show that Dallas continues to lead Texas cities in ultra-luxury home listings while some properties across Texas have reached prices up to $60 million.
