An opulent Southlake home sold at auction last week, but the purchase price didn’t clear the suggested starting bid.
The 31,000-square-foot estate at 1469 Sunshine Lane was sold via Concierge Auctions for $14.22 million, the Dallas Morning News reported. Starting bids were expected around $15 million and the auction lasted from Sept. 4 and concluded with live bidding Sept. 17 conducted by the Upper House in Hong Kong.
The home was originally listed in Aug. 2024 for $27.5 million, making it one of the most expensive listings in Texas last year. That also means the winning bid was about half the listing price. The seller is music producer Dirk Ulrich.
Before Ulrich bought the house in May 2023, the house had undergone multiple price reductions. It hit the market in 2021 for almost $25 million. It didn’t sell until after the listing went viral on Zillow Gone Wild and the price dropped to $17.9 million.
Built in 2016 on nearly 4 acres near Grapevine Lake, the eight-bedroom, 11-bathroom estate features a bowling alley, gym, indoor jump house, three chef’s kitchens, a wine room that can store 2,100 bottles, a recording studio and a backyard pool split between a main swimming area and a 30-foot-deep diving pool with a slide. There’s also a 2,000-square-foot guesthouse with its own entrance and parking. The turf in the backyard was repurposed from NRG Stadium used during Super Bowl LI in Houston.
Ulrich added a Dolby Atmos 3D audio studio last year as part of a remodel. The soundproof space connects digitally to a performance stage in the basement and can convert into a private screening room.
The property was represented through the auction by Brad Cook of Real Broker LLC and Michael Hershenberg of The Hershenberg Group. According to Concierge Auctions, buyers pay a 12 percent “buyer’s premium” at auction on top of the purchase price for a home, and co-brokers receive 2 percent.
The Dallas-Fort Worth metro continues to outpace the rest of Texas in home sales over $10 million. Also on Grapevine Lake, an estate at 1711 Maranatha Way was the most-expensive listing in Texas last month. The five-bedroom, seven-bathroom house spans 8,000 square feet and is asking $8.75 million.
— Eric Weilbacher
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