A polo estate near Austin asking $23 million found a buyer after several months on the market.
The Victory Cheval Estate at 13628 Gregg Manor Road, an 88-acre equestrian facility that doubles as a luxury short-term rental, was the most expensive new listing in Texas in January, according to the Houston Association of Realtors. Along with a working livery operation and a 12,000-square-foot, 24-stall horse barn, the property includes a 5,750-square foot, seven-bedroom, four-bathroom home that rents for $450 to $500 per night and “comfortably sleeps 25,” the rental site claims. It’s also the home field of the ATX Polo Club. Taylor Homuth of Spyglass Realty has the listing.
The owner is Victory Cheval LLC, registered to local real estate lawyer Wally Tingley. The LLC’s manager is Garrett Jennings, head of California-based multifamily operator Castle Crown Properties, which manages the estate.
Information about the seller isn’t available in public records yet.
The property was a pocket listing for six months before it debuted on the Multiple Listing Service with an asking price of $25 million, Homuth said. The seller dropped the price to $22.9 million in March. The manor entered the contingent phase in September, according to Zillow, but the contract remains to be finalized.
The listing paragraph called the land a “commercial opportunity.” The land is not under any deed restrictions, zoning rules or extraterritorial jurisdiction.
“As you can see, this property has so much potential. Whether you want to build condos or apartments, or you even want to bring in a winery or build a golf course, this property has endless opportunities,” Homuth said in a listing video.
However, the buyer plans to preserve the home and the equestrian operation, according to Homuth.
Austin, an event epicenter where about a third of homes are owned by investors, luxury inventory includes a significant share of homes that double as short-term rentals. The top luxury sale one week in August was a 15-bedroom compound that sleeps 32 people.
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