A prominent Dallas developer has acquired a notable estate in one of the city’s most exclusive neighborhoods. Mehrdad Moayedi, founder of Centurion American, purchased the property at 10331 Strait Lane through an LLC last month, as confirmed by county records.
The estate, which was previously listed for $17.9 million last year but did not sell, returned to the market this spring with a $15.9 million price tag. This made it one of the ten most expensive new listings in Texas in April, according to data from the Houston Association of Realtors. The final sale price has not been disclosed.
The Tudor-style home sits on a two-acre lot within its own subdivision called Polka Park in Preston Hollow. Steven Ross, known for his work in plastics manufacturing and as founder of Husky’s parent company, created the subdivision in 2007 and transferred ownership of the property to his daughter Rachel Polka a year later. She is identified as the seller.
Construction and sales efforts involved family members as well. Barry Buford built the house in 2007, while his wife Lucinda Buford—an agent with Allie Beth Allman and Associates—handled the listing.
The property features six bedrooms across 18,000 square feet and includes amenities such as a pool, tennis court, batting cage, and indoor basketball court.
Moayedi is active in both large-scale residential development and luxury housing projects throughout Dallas. His custom homebuilding firm Crescent Estates Custom Homes is currently working on filling out Residences at Routh condos in Turtle Creek this year. The company is also marketing Crespi Estates—a collection of spec mansions developed from parcels taken from Preston Hollow’s landmark Crespi Estate manor.
A spokesperson for Centurion American stated that Moayedi intends to remodel rather than redevelop the Strait Lane property.
Strait Lane is recognized for its high-profile residents; past homeowners include Ross Perot Sr., while current neighbors feature billionaire Toby Neugebauer, S2 Capital founder Scott Everett, and Panda Biotech CEO Bob Carter.
Recent trends show Dallas leading Texas cities in ultra-luxury home listings (https://therealdeal.com/texas/dallas/2024/04/16/dallas-extends-lead-in-texas-ultra-luxury-home-listings/). Statewide data also indicates that Texas continues to see record-high asking prices for luxury homes (https://therealdeal.com/texas/2024/04/23/texas-priciest-listings-hit-the-roof-with-60m-houston-estate-dallas-spec-mansion/), including recent sales like Moayedi’s Crespi Estates spec mansion after an initial $15 million listing (https://therealdeal.com/texas/dallas/2024/05/09/moayedis-crespi-estates-spec-mansion-sells-after-asking-15m/).
