Houston insurance exec sells 27,000-square-foot mansion for over $20M

Memorial Examiner (Houston, TX)

In a record-setting deal for Houston, an insurance industry executive has sold his nearly 27,000-square-foot mansion in the Memorial area for more than $20 million.

The sprawling estate inspired by European palaces sold Oct. 27, according to Harris County deed records. It is the priciest single-family home sale recorded through Multiple Listing Services in the Houston area (not including off-market transactions), according to Houston Association of Realtor records and Douglas Elliman Realty, the luxury real estate brokerage that marketed the property. Elliman associates Mark Menendez and Gigi Huang listed the property.

Stephen L. Way, former CEO of Houston International Insurance Group, put the property on the market in late 2019 for $29.5 million, according to earlier media reports. The property was relisted by Douglas Elliman in March 2020.

Douglas Elliman did not disclose the buyer. However, an entity known as JNC Partners Revocable Trust was listed as the buyer on Harris County deed records, with Carolyn Maria Hughes and Jon Custer Hughes listed as the entity's trustees. An agent for the buyer was not disclosed.

On 4.2 acres, the main house wraps around the courtyard with views of the grounds, including expansive manicured gardens inspired by those of the Palace of Versailles. The property includes an oversize dark sapphire pool, magnolia trees, multiple terraces, an outdoor kitchen, a sports court, a playground and open grass fields.

The home has six bedrooms, seven full bathrooms and nine half-baths, multiple kitchens, a wellness spa/gym and entertainment features throughout. There's also a two-bedroom, 3,700-square-foot guest home on the property. The entire estate is secured by stone walls, iron fences and an electric gate.

The property is in one of the wealthiest enclaves of Houston, in the 77024 ZIP code, where the average home sales price is $2.1 million, according to HAR. On the same street, a home at 100 Carnarvon, nicknamed "Chateau Carnarvon," was the most expensive listing in Houston when it hit the market at $43 million in 2014. The price was reduced to $30 million in 2018, but the home didn't sell and is off the market, according to HAR records.

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