A 20,000-square-foot Tudor in Old Highland Park is headed to auction as its owners finally decide they are done mowing the lawn. The estate at 3711 Lexington Avenue, one of the neighborhood’s largest modern builds and long known for its soaring great room and indoor pool, is on the market as longtime owners Larry and Joyce Lacerte reportedly prepare to downsize into a Knox Street condo tower.
The house, the final work of architect Cole Smith, features handcrafted millwork, a two-story great room and roughly 20,400 square feet of finished space, according to D Magazine. Public listing pages show the property sits on just over an acre, and Redfin's listing history records asking prices as high as $36.5 million last summer before a relist at $29.9 million in January 2026.
As reported by the Dallas Business Journal, the Lacertes have opted to market the property via auction as they downsize. That report lists a 2026 valuation of $26,500,000, identifies Larry and Joyce Lacerte as the owners, and notes that their move reflects a growing number of high-net-worth residents who are swapping sprawling yards for low-maintenance, service-heavy high-rise living.
Knox Street Keeps Luring Buyers From Estates
The Knox Street corridor has become a magnet for buyers who want amenity-rich residences close to Highland Park without the maintenance of a full-blown estate. A major Knox Street mixed-use project recently topped out and is rolling out luxury residential offerings. The Dallas Morning News reports the project includes hotel-level services that appeal to downsizers, and inside The Lora's luxe debut, you will find a first look at the tower’s interiors and amenity lineup, as per Hoodline.
Market coverage suggests Highland Park trophy homes still command outsized attention, but sellers are playing a more strategic game with timing and pricing. Some owners have trimmed asking prices or explored alternate sale paths when demand shifts, according to The Real Deal. That backdrop helps explain why an auction can look appealing to sellers who want a definitive close rather than a long, stop-and-start listing campaign.
At the time of reporting, no auction date or auctioneer information appeared on the public listing pages for the property. The Compass listing for the home shows it as active and contains the full property spec sheet and photos for buyers and brokers to review, and prospective bidders should watch for the formal auction notice with bidding terms and occupancy details.
