A legendary Austin restaurateur is dipping into the residential real estate game.
Lou Lambert, the chef-turned-businessman who had a hand in Austin hotspots like Jo’s, Lou’s and Lamberts Downtown Barbecue, is looking to sell a historic bungalow in one of the city’s fastest-appreciating neighborhoods.
The home, at 1002 Baylor Street, sits on the side of Castle Hill in Clarksville. It looks out onto the city skyline and used to be a guest house when it was built in 1947. However, Lambert pulled a gut renovation on the property, reconfiguring the floor plan and roofline to work in the skyline view.
The home is relatively small for its price. It sits on less than a quarter of an acre and spans 1,320 square feet, but it is asking $1.65 million, which comes to $1,250 per square foot. Homes in the Clarksville and Tarrytown area often sit on small lots relative to their home size.
Michael Reisor of Douglas Elliman has the listing.
The house first listed in May for $1.8 million. It’s far from the only home to see a price cut, as several top luxury listings recently have seen six-figure price drops.
A highlight of the home is the building-length screened porch, with direct access from one of the bedrooms.
Lambert is a seventh-generation Texan and grew up on West Texas ranches. He and his sister, the hotelier Liz Lambert, opened Jo’s on South Congress in 1999. He has since worked on a number of concepts in Austin and Fort Worth.
Lambert’s sister’s firm, MML Hospitality, is working on its own ambitious project not far from the home. Sixth&Blanco, MML’s first residential development, will include 10 condos, a hotel and 50,000 square feet of retail space at the corner of Sixth and Blanco streets.
The 10 condos will stand on the top two floors of the building, each with a unique floor plan. They are also larger than the typical Austin apartment, covering 4,600 square feet and including three bedrooms at least.
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