Mansion Global writes, "with an asking price of $50 million, a lakefront compound in Austin, Texas, could set a record for the state, according to listing agent Bridget Ramey of Kuper Sotheby’s International Realty. 

The roughly 6-acre estate on Lake Austin is directly adjacent to a large ranch owned by technology magnate Michael Dell, Ramey said. It comprises a roughly 7,000-square-foot main house and three guesthouses, plus a private boat dock with space for two boats, Ramey said.

Owner Brett Ames, a real-estate developer, and his wife, musician Carolann Ames, acquired the land in 2014 and built the home for their family, he said. He declined to comment on how much he paid for the land; there are no public records since Texas is a nondisclosure state. However, he said construction cost about $1,250 a square foot.

From the air, the estate appears as a series of interconnected pavilions with midcentury modern-inspired, cantilevered roofs. The main house has three bedrooms and a 10-foot-high, pivoting glass entry door imported from Portugal, Brett Ames said. It also has a fitness center, a dry sauna, a media and game room and a music room.

The estate was completed in March 2020, and Brett Ames said the couple moved in just as “supply chains were getting really messed up.” They had to order temporary furniture and lighting fixtures to use until theirs finally arrived, which took years in some cases.

The property comprises three parcels of land, one of which has permits in place for the construction of a nearly 9,000-square-foot house, Brett Ames said. He had originally considered building a spec home on the lot, but decided the estate was more appealing with larger undeveloped acreage, he said. There are also permits for an additional boat dock.

He said the couple, whose four children are grown and out of the house, are selling because they want to simplify their lives, and because the estate is too large for just the two of them. “We probably way underuse it,” he said. 

Ramey said high-end home sales in Austin so far have topped out at around $30 million.

The listing comes at an interesting moment in the Austin luxury real-estate market, which saw one of the country’s biggest booms during the height of the Covid pandemic. More recently, the market has softened, though prices remain higher than they were prepandemic, Ramey said.  

In April, Austin home prices were down 12.3% from the same period of last year, selling for a median price of $570,000, according to Redfin. On average, homes in Austin sold after 47 days on the market in April, compared with 26 days in April 2022."

Source: Mansion Global

Written by: Katherine Clarke

Published: June 7, 2023

Posted by Grossman & Jones Group on


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