Cinemark founders Lee Roy Mitchell and his wife, Tandy, have listed their Preston Hollow residence at 9769 Audubon Place for $22 million. The property, represented by Ann Shaw of Briggs Freeman Sotheby’s International Realty, features a soundproof theater designed to seat 20 people, nine fireplaces, a wine cellar, a creek on the grounds, and a pavilion equipped with a catering kitchen.
The home covers 14,000 square feet and includes six bedrooms and 12 bathrooms. It sits on a 3.4-acre lot, while the separate pavilion adds another 2,500 square feet. The asking price equates to $1,571 per square foot. The house was built in 1995 by the Mitchells and has remained in their possession since then.
Lee Roy Mitchell founded Cinemark with Tandy in 1984 and led the company until 2022.
According to the Houston Association of Realtors, this is the highest-priced residential listing in Texas for September and also the largest among the top ten listings statewide. Another high-end property nearby at 3612 Crescent Avenue in Highland Park is being marketed for $18.5 million at $1,682 per square foot.
While luxury real estate markets in Dallas remain robust despite broader economic uncertainty—with prices for upscale homes rising even as starter and mid-tier properties decline—Austin has experienced more volatility due to its ties with the tech sector.
A different Preston Hollow home was recently listed for $28.5 million but was withdrawn from the market after less than two weeks without any public record of a sale or signed contract. In Southlake, a mansion that had been priced at $27.5 million last year sold at auction for $14.22 million.
The taxable value of the Mitchells’ property stands at $11.8 million—about half of its current asking price.
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