Realtor.com
This 6,500-square-foot home at 555 Argyle Ave. is known as the "Wedding Cake House" due to its tiered design.
The CEO of San Antonio-based door manufacturer Steves & Sons Inc., Edward Galt Steves, placed a $2.3 million bid to buy the 6,500-square-foot property dubbed the “Wedding Cake House," the daily reports. The three-bedroom, four-bathroom home designed by architect Tom Pressley got its nickname due to its multi-tiered design.
The home was originally put on the market for nearly $4 million in November 2022. However, the asking price has been lowered six times since then, with its latest set at $2.8 million.
Pettit was forced to put the home up for sale after his law firm, which focused on wills and estate planning, Chris Pettit & Associates P.C., filed for bankruptcy in June 2022, according to the Express-News.
Federal prosecutors charged Pettit with operating a Ponzi-type scheme to defraud affluent and often elderly San Antonio-area residents out of tens of millions of dollars. Last month, Pettit was sentenced to 50 years in federal prison for his role in the plot.
Steves, who — along with his brother — runs what some consider Alamo City’s oldest family-owned business, doesn’t yet own Pettit's landmark home. Instead, other parties will have the opportunity to outbid the business owner in $25,000 increments during an auction overseen by the U.S. Bankruptcy Court in San Antonio on April 1, according to the daily.
The residence, located at 555 Argyle Ave., is the last of Pettit’s numerous properties to remain unsold during bankruptcy proceedings.
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