A Houston spec mansion asking roughly $8.8 million sold within 41 days.
Spec developer Fifty Seventh and 7th Luxury Homes sold the newly constructed home at 2331 Drexel Circle in Houston to Nicholas Swyka III and Jennifer Swyka on Feb. 20, according to public records. The house went under contract in less than 30 days after the home entered the market on Jan. 10, according to a press release.
Houston-based Fifty Seventh and 7th asked roughly $8.8 million for the 11,190-square-foot mansion, amounting to about $781 per square foot. The five-bedroom, six-bathroom home occupies a half-acre lot. According to Fifty Seventh and 7th, it’s the largest lot in the neighborhood.
The final sale price is undisclosed, but the Swykas paid at least $8.2 million, according to a financing document recorded in Harris County. Compass agent Mike Mahlstedt had the listing. He did not immediately respond to a request for comment.
Based on the asking price alone, the home would have ranked among the top public residential sales last year, had it sold then. The ninth and 10th most expensive homes sold in 2025 asked $8.5 million and $8.3 million, respectively.
Nicholas Swyka is the CFO of Midland, Texas-based oilfield services company Imperative Chemical Partners. He is the son of the late Nicholas Swyka Jr., who served as vice chairman of energy industry investment bank Simmons & Co. International, according to his obituary. He died in 2024.
Energy industry executives frequently appear in Houston’s top sales. An oil broker sold the first ultra-luxury home of the year in Houston, an 11,700-square-foot mansion at 3649 Chevy Chase Drive, asking $13 million.
Fifty Seventh and 7th was founded by former physician Arpan Gupta. The company develops luxury homes in the River Oaks and Memorial neighborhoods, Houston’s preeminent luxury hubs. Gupta did not immediately respond to a request for comment.
A 30-day listing is quick compared to the statewide average. In 2025, the average home priced above $1 million sold after 72 days on the market, according to Texas Realtors.
However, Houston is the fastest-selling luxury market in Texas. Houston luxury homes sold after an average of 52 days on market last fall, compared to 104 days on market in Austin, 62 days in Dallas/Fort Worth and 91 days in San Antonio, according to Redfin.
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