Posts tagged with "77 acres"

Mark Cuban buys the entire Texas town of Mustang

December 6, 2021

Mark Cuban , the billionaire owner of the Dallas Mavericks basketball team and “Shark Tank” investor, purchased an entire Texas town last month, but says his plans for the property are still up in the air, reports Fox Business.

The Dallas Morning News was first to report that the 77 acres that comprise the town of Mustang—roughly 55 miles south of Dallas, with a population of 21—were “lassoed” by the entrepreneur.

The deal includes an abandoned strip club where a murder occurred, a building for the volunteer fire department, and a trailer park in the town of 20-some people at last count.

“I don’t know what if anything I will do with it,” Cuban told the newspaper, noting that he only bought the town because a good friend needed to offload it.

It’s unclear what Cuban paid for Mustang, but the town went onto the market for $4 million back in 2017, and the price was eventually reduced to $2 million.

Mike Turner, the real estate broker who listed the property, told the Houston Chronicle of Mustang during a 2017 interview, “There was a strip club there called Wispers that has since permanently closed. There was a killing there, the business had quite a tale.”

As an added bonus for Cuban’s purchase, Turner says, “There is a resident alligator in one of the ponds.”

Research contact @FoxBusiness