Asking Price for Dallas’ Rachofsky House Takes $6M Haircut

A Dallas landmark is taking a $5.5 million haircut off its prior asking price.

Howard and Cindy Rachofsky, arguably Dallas’s premier art patrons, originally listed their Preston Hollow home that doubles as a contemporary art exhibit for $23 million. Updated listings for the property, according to the Dallas Business Journal, have decreased the asking price to $17.5 million.

Compass’ Faisal Halum brought the critically acclaimed venue to market. The price drop brings the home down to $1,750 per square foot. According to the outlet, the Rachofskys put the property on the market due to plans to spend more time at their home in Napa Valley, California.

Initially, the Rachofskys planned to give the 10,000-square-foot home at 8605 Preston Road to the Dallas Museum of Art. Over the years, the Rachofsky House has been utilized for philanthropic events like the Two x Two gala to aid the museum, though the museum declined the house due to maintenance costs, according to the publication. Over the course of 25 years, the event raised a total of $120 million for the museum as well as the Foundation for AIDS Research. Instead, the museum received the couple’s extensive contemporary art collection, but not the property itself.

While the Richard Meier-designed venue is currently utilized as an art gallery, it was Howard Rachofsky’s home before he married Cindy. The three-story home is set on 3.25 acres of land, and has two bedrooms and six bathrooms. Additionally, the home features a private lake, according to the outlet.

The home has spent a year on the market. Originally listed in 2025 during a mega-luxury Dallas residential boom, the area saw at least 11 home sales over $10 million in 2024. Dallas County, had five of the 10 most-expensive homes listings in the state in 2025.

— Hunter Cooke