Goldman Sachs In Dallas
DFW: Global investment banking giant, Goldman Sachs, has commenced construction of its expansive campus located in the heart of Dallas. The $500 million endeavor will yield an 800,000-square-foot establishment in Victory Park, adjacent to the renowned Perot Museum. Slated for completion in 2027, this towering 14-story structure will accommodate over 4,000 financial experts relocating from various locations. This project inaugurates an 11-acre venture by Hillwood and Hunt Realty, promising additional office spaces, eateries, retail spots, residential areas, hotels, and a park. Notably, the Goldman Sachs infrastructure will encompass an array of facilities such as conference venues, a café, childcare center, a fitness zone, and relaxing outdoor areas.
DFW Real Estate Update: North Texas observes a reduction in the median pricing of standalone homes, plummeting to $400,000. This 3.6% decrease from a peak of $415,000 in the summer is accompanied by a 13% reduction in home sales from the previous year. The current housing landscape witnesses an average sale price equating to roughly 96% of the asking price, taking about 44 days to finalize a deal. Real estate experts opine that despite market challenges, well-located, ready-to-move-in properties still command a premium.
Downtown Dallas Real Estate Movements: The Mayflower building, a 10-story structure from the 1960s, is now on the market. Converted into 215 apartments five years ago, this Akard Street gem also boasts retail and dining spots, along with a rooftop pool. Enjoying over 80% occupancy, monthly rents average $1,500. This sale follows a trend of historic downtown edifices going on the market.
Highland Park Renovations: In a bid to match neighboring infrastructural uplifts, a Highland Park office structure is on the brink of a significant overhaul. This Mediterranean-style building, spanning almost 80,000-square-feet, has been standing since 1987. Its upcoming transformation, orchestrated by owners linked to L&B Realty Advisors, will infuse it with contemporary features, both inside and out. Among its tenants, Bank of America stands out.
Beltway’s Historic Mansion for Sale: A historic residence, frequented by political dignitaries and the late Secretary of State Madeleine Albright, is available for purchase in Georgetown. This 1853-built 4,800-square-foot abode offers classic aesthetics and modern luxuries spread over four stories. Highlighted features include detailed millwork, multiple fireplaces, a professional kitchen setup, and a vast backyard garden. Located near Georgetown’s vibrant hubs, this $4 million property, with its history of negotiations, might be open to offers.