The punctuation is OK.
Without any sense of context I find the actual sentence really odd.
For one thing: It's odd to break your flow, with a parenthetical remark, so early in the sentence. I would re-write to avoid that.
For another thing: using his first name for Mark is informal whereas "residence" sounds grand (or pretentious) so your styles don't sit well together.
I'd say Mark had a house
"Lord Snoot" has a residence.