Uptown Dallas Condo Listing Tests Demand for Highrise Luxury

A double condo unit at the Terminal at Katy Trail hit the market asking just under $9 million, a standout listing in Dallas’ slowly maturing luxury condo market.

Unit 301 spans more than 5,500 square feet across what were originally two separate units in the eight-story mid-rise completed last year, the Dallas Business Journal reported. The building, at 4205 Buena Vista Street in Uptown, was developed by Dallas real estate power couple Lindsay and Blake Shipp in a venture with Laurie Sands Harrison of the Rosewood Corporation.

The unit has three bedrooms, two offices and an 800-square-foot balcony overlooking the Katy Trail. The building’s aesthetic was inspired by historic train stations, a nod to the trail’s past as a rail line.

The unit caters to estate downsizers who don’t want to sacrifice elegance or square footage, co-listing agent Julie Provenzano of Compass said.

Amenities at the Terminal include valet service, a fitness center and ground-floor restaurants and retail, including Rose Café and O2 Yoga. Interior design for the unit was led by Fern Santini, known for work featured in Architectural Digest. The sellers are not publicly identified, but property records list Harold Gernsbacher, CEO of Chain Link Services.

Texas’ emerging high-end condo market is ambitious and volatile. Demand is rising but comps and sales are erratic. Luxury condo developers in Texas face challenges in financing, pricing and educating buyers accustomed to sprawling ranches or estates.

Prices at the Terminal have climbed since its September debut from $3 million to current minimums of $4.5 million, but not all units have flown off the market. The sellers of unit 501, Dallas’ priciest condo listing at $10.5 million in late February, dropped the ask by $750,000 in May.

Dallas-Fort Worth led the state in million-dollar home sales last year, but the branded and ultra-luxury condo market is niche. With out-of-state buyers and high-net-worth families seeking turnkey living in walkable enclaves like Uptown, developers are betting the long runway will eventually pay off.

— Judah Duke