A Dallas millionaire who made his fortune in the internet’s early days sold his suburban home in a record-breaking deal, the latest signal of affluence migrating north of the city.
Woot.com founder Matt Rutledge’s sprawling estate in Plano sold for $15.9 million, or $1,289 per square foot, in what brokers say is the highest-priced residential transaction ever recorded in Collin County.
The 6.75-acre property at 5805 Red Wolf Lane traded Monday, only two days after hitting the market, according to the Perry-Miller Streiff Group at Dave Perry-Miller Real Estate, which had the listing. The estate was built in 2015 by Sharif-Munir Custom Homes and includes a 12,300-square-foot home, a private lake, lighted tennis court, pool and guest house.
The unidentified buyer was represented by Kari Schuveiller of Keller Williams Realty.
Woot.com, a deal-a-day e-commerce site, sold to Amazon in 2010.
The single-story Austin stone home is set above a spring-fed creek and a 1-acre lake stocked with bass and catfish. The home includes three living areas, a 20-seat home theater, wine cellar, game room and nine-car climate-controlled garage and workshop. The outdoor grounds feature more than 100 curated trees, a negative-edge pool with underwater windows and a boathouse dock.
Buildings on the estate span 18,700 square feet, with two bedrooms in the guest quarters. It also includes a geothermal HVAC system, tornado shelter and irrigation drawn from a private 1,800-foot well. The home sits near the Collin-Denton county line and benefits from the Denton County tax rate while feeding into Plano ISD.
The property was introduced to the market by the Perry-Miller Streiff Group through a “tailored off-market campaign” before being publicly listed, a news release said.
About 49 percent of the homes the team sold last year were off market, Streiff said. But the deal’s success had less to do with that strategy than with the increased comingling of concerted demand and short supply for ultra-luxury homes north of Dallas, Streiff said.
“There’s no question that the wealth migration has gone north, and the people with the wherewithal are looking for these kinds of estates,” he said.
The off-market campaign meant networking with agents selling in the 8-digit price range, who are largely concentrated south of Interstate 635 in Preston Hollow and Park Cities, but Streiff suspected the buyer would come from nearby.
“And that’s exactly what happened,” as the buyer came from within Plano, he said.
The sale tops all high-end residential trades in Collin County, which has seen increased interest from executive buyers seeking land, privacy and proximity to Dallas-area business centers.
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