Highland Park mansion listed for $32M

Second priciest single-family home listed in DFW

Mansion in Dallas’ Highland Park Listed for $32M

Compass agent Michelle Wood and 3616 Crescent Avenue in Highland Park (Getty, Compass)

A lavish Highland Park estate just hit the market, and its price tag makes it the most expensive listing in Dallas’ Park Cities area.

Real estate executive Gil Besing is asking $32 million for his newly built, 8,500-square-foot mansion at 3616 Crescent Avenue, the Dallas Morning News reported. Michelle Wood of Compass is the listing agent.

The Highland Park home is the second-most expensive single-family residence in Dallas-Fort Worth, behind only the 27,000-square-foot Crespi Estate that hit the market at $60 million in May. 

The listing price is significantly higher than Zillow’s prior estimate of $13.2 million in September and the Dallas Central Appraisal District’s $11 million valuation of the property. 

That’s because nothing comparable has hit multiple listing services, Wood said. Some of the most expensive homes in Texas are sold by pocket listings.

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“There have been sales in Highland Park above $20 million in recent months, but they were private sales and are therefore not being used by Zillow or DCAD to value this property,” Woods told the outlet.

The Crescent Avenue home has five bedrooms, seven bathrooms, a pool, spa, three-car garage and landscaped terraces. It’s adorned with limestone, stucco, slate, lead-coated copper roofs and steel doors. A 1963 home that used to stand on the 0.75-acre property was demolished after Besing bought it.

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Besing is the founder and CEO of Cardinal Capital Partners, a real estate private equity investment firm with offices in Dallas and New York.

Some of Dallas’ priciest residential sales and listings are in the Park Cities, which comprises Highland Park and University Park. In July, a 14,000-square-foot mansion in University Park hit the market at $20.5 million. An 8,700-square-foot home in Highland Park was listed for $13.5 million that same month. 

—Quinn Donoghue