Piney Point Village Megamansion: From $10 Million Off to Completely Off

Did that more-than-half-off sale on the Piney Point Village bayou-front estate of Doug and Melanie Johnson work any magic? The cozy 8-bedroom, 10 full- and 3 half-bath playhouse recently disappeared from the MLS, but a Swamplot reader suspects something’s up:

I don’t think it sold because I watch it and I never saw it go into sale pending. I think they gave up trying to sell.

The 21,640-sq.-ft. home at 11682 Arrowwood Circle debuted on the market as a $19 million divorce listing back in 2007. According to a Chronicle blog post last year written by Shelby Hodge, that price was set by now-bankrupt broadcast executive Doug Johnson (his company, Johnson Broadcasting, is the “debtor in possession” of local TV station KNWS). After a couple of uneventful years at the top of the listings, the home’s price was eventually cut to $9.5 million — and the commission doubled to 12 percent — after Melanie wrested the right to control the sale herself.

What does it matter that it’s out of the listings? Really, don’t you think a quirky little property like this would do better in a . . . uh, private offering?


Photos: HAR

11 Comment

  • Another teardown candidate!

  • Is ‘tacky opulence’ an official style?

  • Baby, I wanna lay you down before the flat screen, and make sweet love to you….

  • needs a moat so I can hire a venetian to pole around a gondola and serenade me to sleep.

  • I think the bubble that never was burst. Unless I’m mistaken, there have only been two homes that sold for approximately $10 million and everything else has been between $5 and $7.5 million. The two that sold for $10 million were on Lazy Lane and River Oaks Boulevard. There was another one on Lazy Lane that was a “swap” and is currently on the market. With a “price on request” price. And both involved some “swaps” of other property. Despite astronomical appraisals by both HCAD and everyone’s favorite River Oaks realtors, I think the magic number is $10 million. Rarely if ever to be reached.

    We aren’t Los Angeles or New York. And our “nouveau riche” ain’t that “riche.”

  • Oh. And you have to have a magic house to get the magic number. And this monstrosity is not a magic house.

    The Jerry Moore house on Friar Tuck is a magic house. Have no idea if it sold, has been reduced, taken off the market. But it was worth $10 million. And listed for far less. So there is no method to the madness. Although anything over $10 million is madness in Houston. Regardless of where it is.

  • That is not an attractive house.

  • Hmm… 2009 county appraisal @ 5,739,294.

    Last Sale Date: 5-31-1996 for 955,000.

    That’s some nice appreciation.

  • @NWH: It’s not appreciation until it actually sells. :)

  • GoogleMaster- SHhhh! You musn’t inform others that the entire concept of ‘equity’ is a myth until a sale happens. No such thing until the check clears. My friend likes to talk about his house’s ‘debt to equity’ ratio…LOL – only one of those numbers is known, so how can an accurate calculation be made!?

  • Melanie is hott.