A Dallas estate in the Preston Hollow neighborhood has been purchased by developer Mehrdad Moayedi, founder of Centurion American. The property, located at 10331 Strait Lane, was acquired through an LLC last month, according to county records. The sale price was not disclosed.
The home had previously been listed for $17.9 million last year but did not sell. It returned to the market this spring with a $15.9 million asking price, making it one of the top 10 most expensive new listings in Texas in April, based on data from the Houston Association of Realtors.
The Tudor-style house sits on a two-acre lot within its own subdivision called Polka Park. Steven Ross, known for founding the parent company of Husky in Grand Prairie, established the subdivision in 2007 and transferred ownership of the property to his daughter Rachel Polka in 2008. She was also the seller in this transaction.
Construction and marketing were managed within families connected to the property. Barry Buford built the home in 2007; his wife Lucinda Buford, an agent at Allie Beth Allman and Associates, handled the listing.
The estate features six bedrooms and covers 18,000 square feet. Amenities include a pool, tennis court, batting cage, and indoor basketball court.
Moayedi is recognized for developing both single-family communities through Centurion American and luxury homes via Crescent Estates Custom Homes. His company is currently completing units at Residences at Routh in Turtle Creek and selling properties at Crespi Estates—spec mansions developed from parcels of the landmark Crespi Estate manor in Preston Hollow.
According to a spokesperson for Centurion American, Moayedi intends to remodel rather than redevelop the Strait Lane property.
Strait Lane is noted for its high-profile residents such as Ross Perot Sr., billionaire Toby Neugebauer, S2 Capital founder Scott Everett, and Panda Biotech CEO Bob Carter.
