Preston Hollow Mansion Cut 17% to $37.5 Million
Dallas buyers and sellers of high-end homes are seeing trophy listings reprice after a reported $30 million offer fell through.
Updated on Nov. 3, 2026 in Residential
Scott Everett has cut the asking price of his Preston Hollow mansion at 5547 Walnut Lane in Dallas by $7.5 million, from $45 million to $37.5 million, after a reported $30 million offer fell through. The 13,900-square-foot home was built in 2025 in the gated Crespi Estates community.
Why it matters
The 17 percent cut shows that even the most expensive Dallas listings are responding to buyer demand, which can shift price expectations for luxury homes across the city. A reported $30 million offer falling through is a useful signal for homeowners tracking what high-end properties are actually selling for.
The asking price dropped 17 percent, from $45 million to $37.5 million, on a 13,900-square-foot home, lowering the price per square foot from more than $3,200 to $2,698. The reported $30 million offer that collapsed would have been a substantial discount from the original listing price.
The players
Scott Everett
Dallas real estate investor and owner of the Preston Hollow mansion, whose financial position has been reported as strained.
Alex Perry
Listing agent with Allie Beth Allman & Associates who disclosed the reported offer to the Dallas Business Journal.
Morgan Stanley
Global financial institution that provided a $14.4 million loan tied to the home.
The details
The listing agent, Alex Perry of Allie Beth Allman & Associates, confirmed the reported offer to the Dallas Business Journal. Everett occupied the property for about one year after three years of design and construction. Loan documents show Everett borrowed $14.4 million from Morgan Stanley for the home, and the property was appraised at $15.5 million for tax purposes last year.
Timeline
Design and construction of the home began three years before listing.
The home was built in 2025.
Last year, the home was appraised at $15.5 million for tax purposes.
Over the summer of 2026, Everett informed investors their equity in the REIT and fund was gone.
On November 3, 2026, the price cut to $37.5 million was reported.
The Home Front
The Preston Hollow reduction sits within Dallas's high-end residential market, where trophy listings have been repricing as buyer demand for very large homes softens. Reported figures for this property show its per-square-foot price now at $2,698, below the more than $3,200 it was initially listed for.
If you are considering selling or buying a high-end property in Preston Hollow, compare recent sale prices and price per square foot with a licensed local agent before setting or accepting a price. Keep documentation of your home's appraisal and any loan terms on file, and consult a licensed attorney or lender before making any transaction decisions.
The takeaway
Even trophy properties in Dallas are subject to repricing when demand softens, so homeowners should watch recent sales data closely. Keep your property's appraisal and financing records organized in case a sale or refinance requires them.
Further reading
For more on comparable trends, explore Residential coverage in Dallas.
Source note: This article includes information reported by The Real Deal New York.
