Casa de Ondas, the nearly 13,900-square-foot Preston Hollow estate known for its wave-shaped roofline, is now asking $37.5 million. The price changed Monday, down $7.5 million from the $45 million ask it debuted with two months earlier.
The reduction amounts to nearly 17% off the original ask, according to Zillow figures cited by Dallas News. Listing agent Alex Perry, who markets the home alongside colleagues from Allie Beth Allman & Associates, said the new price better reflects where the home is likely to sell and that the move responded to broader market conditions. Perry also said buyers had shown interest in the home while it carried the higher price tag.
Casa de Ondas went on the market Aug. 31 at $45 million. Dallas News reported that it was then Dallas County's second-most-expensive home listing, behind the nearby Crespi Estate at $64 million. The property sits on roughly two acres and has six bedrooms, six full bathrooms and four half bathrooms. Its curved roofline gives the home its name: Casa de Ondas translates to House of Waves.
A House Built for Entertaining
The estate's amenities read like a wish list for Dallas's luxury buyers: a pool with a slide, terrace and garden space, an underground speakeasy with a second bar, a golf simulator room, a four-car garage, a sports court, an outdoor kitchen, and a gym outfitted with a steam room, sauna and massage room. The home was custom-built over a four-year period and completed in 2025.
Perry told Dallas News in August that recreating a home like Casa de Ondas would probably take another four years, and that it was unusual for a custom-built home to hit the market so soon after completion. He added at the time that a brand-new home offered a clear advantage for whoever buys it, and that the family behind the build had simply decided the property was more space than they needed.
Who's Selling, and What It's Worth on Paper
The Dallas Central Appraisal District lists the owner as the CHJP Revocable Trust. Dallas News reported that the property is being sold by a trust associated with Scott Everett, founder of Dallas-based S2 Capital. The appraisal district valued the home at $15.5 million for tax purposes. Dallas News also reported that some of S2 Capital's roughly 40 Dallas-Fort Worth apartment developments faced foreclosure this year amid difficult conditions for apartment owners, and that the firm announced a series of refinancings and loan modifications in October. The appraisal figure and the listing price measure different things.
What the Tax Appraisal Means
Texas Comptroller guidance says taxable property is generally appraised at market value as of Jan. 1. The district's $15.5 million figure is therefore an annual tax appraisal, not a direct measure of the home's current asking price or a prediction of its potential sale price, according to the Texas Comptroller of Public Accounts.
Dallas News reported that an offer in the $30 million range had been made, but it was not established whether it remains on the table. Coverage has also given the listing address as both 5547 Walnut Lane and 5547 Walnut Hill Lane; an earlier Dallas News account placed the home at 5547 Walnut Hill Lane in the gated Crespi Estates community in Preston Hollow.
Dallas-Fort Worth's Grip on Texas Luxury Listings
The listing is part of a region with a strong presence at the top of the state's luxury market: nine of the 10 most expensive new home listings in Texas were in Dallas-Fort Worth, according to the Dallas Business Journal. The nearby Crespi Estate has also had several different asking prices. It returned to the market in 2025 at $64 million, including three original estate land parcels, after sitting unsold at $60 million in 2023 and returning in 2024 at $47 million without the additional acreage, according to People Newspapers. The gated Crespi Estates community includes four residences.
Casa de Ondas was profiled by D Magazine in September, when its asking price was $45 million. It is now listed at $37.5 million.
