We reported that the O’Neil Ford-designed home of Dallas philanthropists Jack and Nancy Penson was slated to be razed after being purchased at auction by Lucien “Lute” Riley. The Highland Park home, built in 1954 and considered architecturally significant, was felled just this week. We have learned that the lot at 3756 Armstrong is now back on the market for $5.95 million.
At .845 of an acre — or 36,852 square feet — that’s more than $7 million per acre, or approximately $161 per square foot. FOR DIRT.
Like Candy said, from Hondas to Haciendas, except that Riley doesn’t appear to be bothering with the “hacienda” part. The home dirt is listed with Allie Beth Allman, Lute’s agent, and went into MLS today, December 16. This is going to be very interesting, to see if this property sells faster without a home on board. And it certainly could set some new price point highs for dirt in this neck of the woods.
