Flip this mansion: Former Hicks estate back on market for a mere $38.5M

The $36.2 million sale of a gated luxury estate in Dallas' Old Preston Hollow — once owned by former Texas Rangers and Dallas Stars owner Tom Hicks — set a U.S. record as the highest price paid for a residential property hitting the auction block when it sold in late December.

Apparently, it was still a bit of a fixer upper.

Now, seven months after buying the 28,000-square-foot, 10-bedroom, 12-bath mansion on Walnut Hill Lane, Dallas-based investor/developer Mehrdad Moayedi has renovated and…

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