Media rooms aren’t rare in ultra-luxury homes, but few were built by movie theater magnates.
Cinemark founders Lee Roy Mitchell and his wife, Tandy, are asking $22 million for his Preston Hollow property at 9769 Audubon Place. Along with nine fireplaces, a wine cellar, a creek in the yard and a wedding-ready pavilion with a catering kitchen, amenities include a soundproof theater that can accommodate 20 viewers. Ann Shaw of Briggs Freeman Sotheby’s International Realty has the listing.
The asking price amounts to $1,571 per square foot.
The Mitchells founded Cinemark in 1984, and Lee Roy led the company until 2022. They’ve owned the house at 9769 Audubon Place since building it in 1995.
The six-bedroom, 12-bathroom home spans 14,000 square feet and sits on a 3.4-acre lot . The pavilion is 2,500 square feet. The property’s taxable value is $11.8 million, a little more than half of the asking price.
It’s the most-expensive residential listing in Texas this month, and also the biggest of the top 10 listings, according to the Houston Association of Realtors. The second-priciest property listed this month is 6 miles away at 3612 Crescent Avenue in Highland Park, an 11,000-square-foot home marketed by Compass for $18.5 million. That’s $1,682 per square foot.
The luxury market tends to fly above economic turbulence, especially in Dallas, the ultra-luxury capital of Texas. Austin has been a notable exception this year, with price cuts and rising inventory as its relationship to the tech industry frays. In Dallas, Plano and Irving, however, luxury home prices have risen at about the same rate that starter and mid-tier homes have fallen this year, according to First American Data & Analytics.
Another Preston Hollow home listed for $28.5 million earlier this month but was taken off the market after less than two weeks, according to Zillow. Neither Zillow nor Dallas County records indicate that a contract has been signed.
A Southlake mansion that was originally listed for $27.5 million, one of the most expensive listings in Texas last year, recently sold at auction for $14.22 million, less than the suggested starting bid.
