While house prices have fallen in several states across Australia because of the coronavirus crisis, the pandemic hasn’t impacted the sale of a waterfront mansion in Sydney’s prestigious Point Piper.
One of the most expensive residences on the Point Piper waterfront, known as Edgewater, has been sold on the quiet for a whopping $95 million.
Credit: realestate.com.au
The Wolseley Road mansion has a 40m harbour frontage, with uninterrupted views of the Harbour Bridge and Sydney Opera House.
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There’s also a tennis court on the front, as well as a private jetty.
The luxurious home has been snapped up by a buyer who is based in Sydney, according to realestate.com.au, which reported the sale and the $95m price tag
The vendors were Joe Brender and the late Sam Moss, co-founders of women’s clothing brand Katies, who bought the property for $5m in 1985, when it was just a concrete shell, and turned it into two residences.
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The sale is understood to be the second-highest priced real estate sale around the country.
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According to Domain, Edgewater was one of a few trophy homes built by Michael Edgley, who in the 1970s and 1980s was one of the biggest names in the entertainment industry, staging the Royal Ballet, Torvill and Dean, Evita, Ike and Tina Turner, Billy Joel and producing films The Man From Snowy River and Phar Lap.
Earlier this year, an eight-year-old Australian boy became one of the world’s youngest property developers after purchasing five apartments in Sydney at auction for $970,000.
Credit: Harcourts
Michael Hamdan engaged in a bidding war with six other people before claiming the Juno Parade cluster of properties, which were expected to sell for $800,000.
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Eventually, the youngster won out by employing a strategy to ‘slow bidding down’ and using assistance from his father, who is also a property developer.
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