More than 6 reductions over the last 2 years mean you can now snap up this 20,000-plus-sq.-ft. Piney Point megamansion for less than half its original $19.9 million asking price. The spread belongs to Douglas R. Johnson and his wife Melanie, who divorced a year and a half ago, reports the Chronicle‘s Shelby Hodge:
The house began as a 6,000 square-foot teepee sitting in the middle of a lush wooded acre on Arrowwood. We are told that the couple pumped $16 million worth of expansion and improvements into the place. Eight bedrooms, 10 bathrooms, three half-baths and a paneled wine room and bar dating from the 1920s are part of the package. And did we mention the vast third-floor entertainment area that features a lavish theater center, game room and bar?
According to the divorce decree, Melanie and the boys get to live in the house until it sells. The judge gave Doug the right to control that sale. He priced the property at $19 million — unheard of in the Memorial/Piney Point neighborhoods. There was little interest. Melanie went back to court recently and secured rights to control the sale herself. And how things have changed.
According to MLS records, the home went on the market in April of 2007. Its most recent price cut — just a few days ago — was a mere $3.4 million.
Until his Johnson Broadcasting Co. filed for Chapter 11 bankruptcy last October, Johnson was listed as the sole owner of KNWS, local TV’s Channel 51. Johnson also filed for personal bankruptcy, but reportedly told the Chronicle at the time that it all had to do with the divorce.
How’s this home doing in the ratings? Well, the listing puts it at about 26,214 sq. ft., but the appraisal district only counts 21,240. But even that lower figure is enough to get the home onto Wikipedia’s list of the largest single family residences in the United States.
The home’s price may be down, but the commission is now up to 12 percent. And the photos sure make it look like the volume is still turned way up:
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- 11682 Arrowwood Cir. [HAR]
- Mega mansion: Asking price reduced by $10 million [Social Climbing]
- Small Texas Broadcaster Goes Chapter 11 [TVNewsCheck]
- Channel 51 Owner Files For Bankruptcy Despite Stellar Schedule [Hair Balls]
- List of the largest single family residences in the United States [Wikipedia]