Well, kind of. I didn’t have time to get you the background dirt circa early ’80s on the breathtaking Oats home at the southwest corner of Strait and Royal — you know, this week’s $19.5 million Monday Morning Millionaire. I was busy getting ready to head to San Francisco for Connect.
Thankfully, Alan Peppard took the ball and ran with it. So I will let him bring you the details on how John Post, son of insurance honcho Troy Post, bought the original home on the lot for $3 million and then tore it down. In fact, I remember when this home was torn down as I drove by it nearly every day (carpool). I knew the home was huge (19,000 square feet) and that it was torn down by the buyer almost as soon as he bought it. We were just incredulous! Tear downs were reserved back then for really messed up homes.
Dallas was sure a blast in the ’80s.
Also, Alan says “nearby Strait Lane neighbors include Jessica and Dirk Nowitzki and their baby daughter; Margot and Ross Perot; and Kentucky Derby-winning horse breeders Lisa and Kenny Troutt.” Yes, but let’s not forget Mehrdad Moayedi, who just snapped up Phil Romano’s house and is doing a ton of work on it even as we speak.
While it is interesting that there is a near-replica of the White House for sale on Strait Lane, even more interesting is the tortured tale of the house that was demolished 28 years ago on the same spot.
Tireless real-estate blogger Candy Evans 🙂brings us the news on her CandysDirt blog that the quasi-White House at the southwest corner of Strait and Royal is on the market for $19.5 million.
Back in 1983 when Dallas was in full J.R. Ewing hubris mode, construction was begun on a 19,000-square-foot home on the lot. But before it was finished, the owners sold it to Dallasite John Post, son of insurance magnate Troy Post. (In addition to once being the majority owner of Braniff Airlines, Post owned his own mansion at the corner of Park Lane and Inwood that was among the most elegant homes in Dallas.)
In the summer of 1985, John Post signed a promissory note for $3 million to buy the almost-complete mansion on Strait Lane. Shortly afterward, Post halted construction. Within weeks, builder Willard Goolsby Inc. filed a lawsuit. Principal Jerry Goolsby declared, “I haven’t been paid. I’m suing to get my pay for two years’ labor.”
Post contended that he had questions about the safety of the mansion and ordered that it be demolished — all nine bedrooms, 12 baths, servants’ quarters and the 10-by-15 foot room for the dog.
In the final bizarre twist, demolition bulldozer rides were sold at a fundraising gala for the Northwood Institute.
So on Monday morning, May 5, 1986, five high bidders were each allowed 10 minutes aboard a Dallas Demolition & Excavating bulldozer as it ripped apart the brand-new house.
