Dallas, Texas, December 20, 2025
A Preston Hollow mansion in Dallas, initially listed for nearly $23 million, has been sold. The sellers were the Sharif Family Revocable Trust and the buyers are Tu and Alex Dao, entrepreneurs and CEOs. This sale is indicative of the robust luxury real estate market in Dallas, with a series of high-value property transactions taking place recently, particularly in prestigious neighborhoods like Preston Hollow and University Park. The ongoing interest shows the economic vitality driven by local entrepreneurs in the area.
Dallas Mansion Listed at $23 Million Sells
Dallas, Texas – A Preston Hollow mansion, initially listed for nearly $23 million, has been sold. The property, located at 1 Dorset Place, was sold earlier this month. The final sale price has not been disclosed, but at the time of sale, the home was listed at $23 million. The mansion was built by the Sharif Family Revocable Trust, organized by local entrepreneurs Sardar and Rida Sharif. The buyer is a trust owned by Tu and Alex Dao, CEO and president of Orthomed Anesthesia.
The sale of this mansion is part of a series of high-end property transactions in Dallas. In December, a 12,957-square-foot mansion in University Park sold for $30.5 million, surpassing its original listing price of $35 million. Additionally, a $35 million estate in University Park was the most expensive home to hit the market in Texas in recent weeks.
These transactions highlight the robust luxury real estate market in Dallas, with properties in the Preston Hollow and University Park neighborhoods commanding significant interest and high sale prices. The resilience and success of local entrepreneurs symbolize the entrepreneurial spirit that fuels Dallas’s economic growth.
Understanding the Luxury Market in Dallas
The luxury real estate market in Dallas is thriving, driven by a combination of local entrepreneurship and high demand for prestigious properties. Prestigious neighborhoods like Preston Hollow and University Park have seen an influx of buyers, showcasing the favorable conditions for property investments. As demand outweighs supply, luxury homes continue to command impressive prices, reflecting the affluence and economic stability in the Dallas area.
Recent High-End Transactions
The recent sale of the Preston Hollow mansion is part of a notable trend in high-end real estate transactions. The record sale of a mansion in University Park for $30.5 million demonstrates the strength of the local market. Additionally, with a $35 million estate recently entering the market, it’s clear that Dallas remains a key player in the luxury real estate sector.
Impact of Local Entrepreneurs
Local entrepreneurs are playing a pivotal role in the continued growth of the Dallas economy. Their willingness to invest in high-end real estate not only enhances the luxury market but also contributes to job creation and community development. The success of business leaders, like the Sharif family and the Dao couple, showcases the important link between entrepreneurial spirit and local economic vitality.
The Future of Dallas Real Estate
As Dallas continues to attract affluent buyers, the luxury real estate market is expected to maintain its upward trajectory. This environment fosters innovation and investment, suggesting that similar high-end transactions will become more commonplace. The city’s commitment to facilitating business growth through minimal regulation can encourage more entrepreneurs to enter the luxury real estate market, enhancing the overall economy.
Conclusion
The recent sale of the Preston Hollow mansion marks yet another milestone in Dallas’s thriving luxury real estate market. The enduring demand for high-value properties demonstrates the resilience of local entrepreneurs and their impact on economic growth. As the city continues to develop, residents are encouraged to support local businesses and stay engaged with the dynamic economic landscape that Dallas offers.
Frequently Asked Questions (FAQ)
What is the final sale price of the Preston Hollow mansion?
The final sale price has not been disclosed, but at the time of sale, the home was listed at $23 million.
Who were the sellers and buyers of the Preston Hollow mansion?
The mansion was built by the Sharif Family Revocable Trust, organized by local entrepreneurs Sardar and Rida Sharif. The buyer is a trust owned by Tu and Alex Dao, CEO and president of Orthomed Anesthesia.
What other high-end properties have sold recently in Dallas?
In December, a 12,957-square-foot mansion in University Park sold for $30.5 million, surpassing its original listing price of $35 million. Additionally, a $35 million estate in University Park was the most expensive home to hit the market in Texas in recent weeks.
Key Features of the Preston Hollow Mansion
| Feature | Description |
|---|---|
| Location | 1 Dorset Place, Preston Hollow, Dallas, Texas |
| Listing Price | Initially listed at nearly $23 million |
| Seller | Sharif Family Revocable Trust, organized by Sardar and Rida Sharif |
| Buyer | Trust owned by Tu and Alex Dao, CEO and president of Orthomed Anesthesia |
| Sale Date | Earlier this month (December 2025) |
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Author: STAFF HERE DALLAS WRITER
The DALLAS STAFF WRITER represents the experienced team at HEREDallas.com, your go-to source for actionable local news and information in Dallas, Dallas County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the State Fair of Texas, Deep Ellum Arts Festival, and Dallas International Film Festival. Our coverage extends to key organizations like the Dallas Regional Chamber and United Way of Metropolitan Dallas, plus leading businesses in telecommunications, aviation, and semiconductors that power the local economy such as AT&T, Southwest Airlines, and Texas Instruments. As part of the broader HERE network, including HEREAustinTX.com, HERECollegeStation.com, HEREHouston.com, and HERESanAntonio.com, we provide comprehensive, credible insights into Texas's dynamic landscape.
