San Antonio, Texas – After more than a year on the market, a mansion in Alamo Heights, owned by disgraced San Antonio attorney Chris Pettit, has finally attracted a bidder. Edward Galt Steves, the CEO of San Antonio-based door manufacturer Steves & Sons Inc., submitted a bid of $2.3 million for the 6,500-square-foot property known as the “Wedding Cake House.” The house, designed by architect Tom Pressley, features a tiered design that earned it its nickname.
Originally listed for nearly $4 million in November 2022, the asking price for the three-bedroom, four-bathroom home has been reduced multiple times since then. The most recent asking price is set at $2.8 million. Pettit was compelled to sell the property after his law firm, Chris Pettit & Associates P.C., filed for bankruptcy in June 2022.
Pettit faced federal charges for operating a Ponzi-type scheme, defrauding affluent San Antonio-area residents out of millions. Last month he received a 50-year sentence for his involvement in the plot. The CEO of Steves & Sons Inc., along with others, will have the opportunity to outbid others during an auction supervised by the U.S. Bankruptcy Court in San Antonio on April 1.
Located at 555 Argyle Ave., the mansion is the last of Pettit’s properties that remain unsold during the bankruptcy proceedings.