Houston’s Most Expensive Home Sells For $21M

The most expensive mansion sale ever on Houston’s multiple listing service has reportedly closed.

Inspired by English manors and Europe’s great estates, 120 Carnarvon Drive in Houston’s Memorial neighborhood was sold at a discount like most high-end mansion sales in the Bayou City are trending.

Nevertheless, it’s the first single-family home in Houston to sell for north of $20 million, sources told The Real Deal.

Prior to this $21 million sale, the most expensive single-family sale ever recorded on Houston’s MLS was 37307 Diamond Oaks Drive in Bayou City suburb of Magnolia, which sold for $17.5 million in 2017.

The mansion, which was previously owned by Stephen Way, founder and CEO of Houston International Insurance Group, was built in 2003. He originally listed the home in 2019 with a $29.5 million asking price, then took it off the market for about a year. It was re-listed in August 2020, again for $29.5 million. In October, the Houston Association of Realtors had the property listed for $26.5 million.

According to Harris County Appraisal District Records, the home’s market value is $13.6 million.

Gigi Huang (Douglas Elliman)

The 26,600-square-foot house had six bedrooms, seven full bathrooms, nine half bathrooms, professionally equipped primary and catering kitchens, a primary suite with separate baths and dressing areas, a fitness center with a spa, a home theater and a wine vault.

There’s also a separate 3,700-square-foot, two-bedroom guesthouse on the grounds of the 2.84-acre property. The estate’s manicured parterre gardens are based on the gardens of Versailles. An oversized sapphire pool and yard are surrounded by mature magnolia trees.

Mark Menendez (Douglas Elliman)

The property, which is secured by stone walls, iron fences and electric gates has open grass fields, multiple terraces, a cabana with an outdoor kitchen, a sports court and a playground.

120 Carnarvon was listed by Douglas Elliman agents Mark Menendez and Gigi Huang.

The buyer of 120 Carnarvon was not disclosed.