An expansive Southlake estate was sold at auction for $14.22 million, less than the anticipated starting bid and nearly half its original listing price. The 31,000-square-foot property at 1469 Sunshine Lane went to auction through Concierge Auctions, with live bidding held on September 17 by the Upper House in Hong Kong.
Originally listed for $27.5 million in August 2024, the home was one of Texas’ most expensive properties last year. Music producer Dirk Ulrich owned the house prior to its sale. Before Ulrich’s purchase in May 2023, the property experienced several price reductions after first hitting the market in 2021 for almost $25 million. The listing gained attention online when featured on Zillow Gone Wild, eventually selling after a price drop to $17.9 million.
The estate, built in 2016 on close to four acres near Grapevine Lake, includes eight bedrooms and eleven bathrooms. Amenities feature a bowling alley, gym, indoor jump house, three chef’s kitchens, a wine room capable of holding over two thousand bottles, a recording studio and a backyard pool complex that includes both a main swimming area and a thirty-foot-deep diving pool with slide. The guesthouse spans two thousand square feet and has separate access and parking. Turf from NRG Stadium used during Super Bowl LI covers part of the backyard.
Ulrich remodeled the home last year to add a Dolby Atmos 3D audio studio that connects digitally to a performance stage below ground and can convert into a private screening room.
Brad Cook of Real Broker LLC and Michael Hershenberg of The Hershenberg Group represented the property during the auction process. According to Concierge Auctions’ policies, buyers pay an additional twelve percent buyer’s premium on top of their winning bid; co-brokers receive two percent commission.
The Dallas-Fort Worth region continues to see more luxury home sales above $10 million compared to other areas in Texas such as Houston or Austin (https://therealdeal.com/texas/dallas/2024/06/20/dfw-is-crushing-houston-austin-in-ultra-luxury-sales/). Another notable property nearby is an estate at 1711 Maranatha Way on Grapevine Lake that was recently listed for $8.75 million.
“DFW is crushing Houston [and] Austin in ultra-luxury sales,” according to recent reports from The Real Deal (https://therealdeal.com/texas/dallas/2024/06/20/dfw-is-crushing-houston-austin-in-ultra-luxury-sales/).
