A Highland Park home traded hands last week after withdrawing from the market with an $11.5 million asking price.
Former finance and oil executive Lee Edgar Mikles and his wife Lori Mikles sold the home at 3600 Beverly Drive to Michael and Stacey Watson on April 29, according to a sale deed. The home left the market in March, but it last asked $11.5 million, Redfin shows. Briggs Freeman Sotheby’s International Realty agent Ryan Mikles had the listing.
Built in 2001, the Mediterranean-style home covers 7,842 square feet on a 0.4-acre corner lot in Highland Park at the intersection of Beverly Drive and Byron Avenue, according to Realtor.com. Features of the five-bedroom, eight-bathroom home include two wet bars, four fireplaces and a second-story balcony overlooking the walled backyard.
The listing price comes down to about $1,460 per square foot. The final sales price is undisclosed, but the buyers secured an $8.1 million loan to purchase the property, county records show.
The sellers initially listed the home for just under $12 million in September, ranking ninth on the Houston Association of Realtors’ list of the top 10 most expensive residential listings in Texas for that month. The property withdrew from the multiple listing service on March 17 after 194 days on the market, Redfin shows.
The sellers bought the home in 2023 from fellow oil executive Paul Loyd, former chairman of the world’s largest offshore driller, R&B Falcon Corporation, deed records show. At that time, the home asked $8 million and sold in a month, according to Redfin.
Similar recent sales in Highland Park include the former home of 7-Eleven heir Jere Thompson at 3918 Normandy Avenue, which closed in March after leaving the market three months earlier with an asking price of $9 million.
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