AUSTIN — AUSTIN -- A mansion along the shores of Lake Austin has set a new record for its unprecedented price tag.
The sale? $12.3 million.
The six-bedroom, seven-bathroom estate's sale of $12.3 million made it the highest ever price tag for an Austin residential listing, according to DMTX Realty's Dave Murray.
“A sale of this magnitude is thrilling for Austin. It shows that ultra-luxury home buyers consider Central Texas to be an in-demand location to invest,” Murray said.
PHOTOS: Lake Austin mansion breaks record
PHOTOS: Lake Austin mansion breaks record
DMTX Realty Marketing Director Jonathan Berry noted the significance of the mansion's sale.
“We have seen home values rise the last several years, and with the influx of tech people and the prominence of startups in the city, there is a growing market for high-value estates,” said Berry. “On the luxury side of things, we are not quite to Malibu or San Francisco level prices, but this represents that the ceiling is still to come for upper echelon luxury. People want to be in Austin.”
Three other past sales in the top five were classified as ranch properties with acreage starting at 128 acres.
The home was constructed in 1987 and underwent an extensive renovation in 2011 by Austin architect Michal Hsu, who is also known for his work on the South Congress Hotel project.
Located in the Watersedge luxury community, the waterfront home was positioned toward the southern end of a strip of land, flanked by bluffs and ostensibly on its own gated peninsula. The 7,663-square-foot home is widely regarded as one of the most private estates on Lake Austin, according to Murray.
