The Statler Hilton, The Stoneleigh, and more than 40 residential developments in North Texas, Austin, Houston and San Antonio, are not the only properties owned by developer Mehrdad Moaydi and his vast land-snatching Centurion Development Company.
Yesterday, Mehrdad closed on Phil Romano’s gorgeous 10660 Strait Lane that has been on the market since about 2004, most of that time with Allie Beth Allman agent extraordinaire Doris Jacobs. The spread was originally listed for $17.5 million, but had been reduced to $10 million. It’s definitely a milestone for the man who started his development company in the 1980’s and learned the construction business moving dirt, pouring and laying concrete. 
Phil Romano, of course, is best known as the creator of Fuddrucker’s and Romano’s Macaroni Grill, and is also leading the development of the rapidly growing Trinity Groves.
Mehrdad’s new 14,748-square-foot home is massive, and sits on close to 4.7 acres of land off Strait Lane. From a private lake and waterfalls, to a jogging trail, creek, tennis court and a resort-like pool and spa, this home has everything a multi-millionaire land baron could dream of and then some. 
I always thought Romano’s was a sleeper property, nothing a good contractor cannot change and apparently that is exactly what Mehrdad plans to do.
Here’s what Mehrdad bought: besides a private lake, waterfalls, creek, a jogging trail, tennis court, resort-like pool and spa, he now has 8 bedrooms, 7 full and 4 half bathrooms (which is 11 commodes total!), 5 fireplaces, a 4 car garage, and a tremendous temperature controlled wine cellar. There is a long tree-lined driveway that ends in a large circular motor court, with a copper roof over all. The residence overlooks a small man-made lake complete with perpetual fountain. Besides all the resort features, the estate also includes a 1,204 square foot detached building designated as staff quarters. Completely necessary to house the crew he will need to take care of this spread.
Phil Romano purchased the property in 2000 for $4,535,300, and built the home in 2001.
Now children, Your Mama has looked hard at the photos of the interiors of this house. In fact, we have looked really damn HARD. We have tried and we have endeavored, but alas and with all do respect to the Romanos, we simply have nothing nice to say about what we see. Not. One. Thing.
Well, shame on him. Because as I said, I always thought this was a total sleeper, and worth every penny for the wine cellar alone. For those of you who wonder why Romano retained the house for so long, one reason was that he kept two precious Golden Retrievers there because they were used to the property. And of course, he was waiting for the right buyer.
“It’s about finding that right buyer,” Doris Jacobs said awhile back at one of the many functions she held at the Romano estate to market it. “This is a very unique property that has a gorgeous setting. You have almost five acres. At this price, it’s almost land-value.”
Mehrdad Moayedi is a master land buyer. When he pulls the trigger, that means the price is right.
