An entire-floor Double Bay penthouse offered for $10.26m, $2.26m over reserve, at an action-packed public sale final evening. And there wasn’t even a harbour view.
Owned by the late Ruth Gardos and her husband the late property developer Nick Gardos — who’d each fled war-torn Europe — Ray White TRG principal Gavin Rubinstein stated of the outcome for 7/11 Guilfoyle Avenue: “No-one might have predicted this!”
The sturdy outcome capped off a powerful week for The Rubinstein Group, with Rubinstein and colleague Evan Williams promoting the Moore Park Road, Paddington home of KPMG affiliate director Will Randall for $4.075m earlier within the day.
And final week, Rubinstein and Oliver Lavers exchanged greater than $22m price of gross sales throughout primarily Bellevue Hill over 48 hours.
For the Double Bay penthouse, bidding had opened at $6.5m, however because the $90,000 and $140,000 bids had been flying, auctioneer Damien Cooley suggested the group: “Strap your self in of us … why would you promote your house any manner however public sale!”
Edgewater sells for $95m
Rubinstein stated the purchaser was a neighborhood downsizer, however I recognised the underbidder who was making the large bids as solicitor Carl Reid, who seemed to be performing for Gerda Brender.
Brender’s husband Joseph and the late Sam Moss, a Holocaust survivor, had been co-founders of
the Katies clothes chain and the households had owned the Level Piper waterfront Edgewater, which offered for $95m in September.
Rubinstein had six registered and 5 lively bidders for the highest flooring within the Ercole Palazzetti-designed ‘Navona’ seven-unit advanced, which Gardos had developed 23 years in the past, conserving the penthouse for himself and his spouse.
Double Bay penthouse hits the market
He and colleague Patrick Cosgrove had been guiding $7m.
Regardless of the shortage of a harbour view, downsizers had cherished the quiet location near the village; the boutique designer block and the personal wraparound terrace.
“I’d informed all of the patrons earlier than the public sale that it was going to go over $8m due to the curiosity within the marketing campaign, however I might by no means have dreamt it might finish at that stage,” Rubinstein stated.
A six-bedroom residence at 17 Fitzwilliam Road, Vaucluse that Rubinstein had listed with colleague Cae Thomas handed in on a vendor bid of $9m.
However there was sturdy curiosity, with an $800,000 hole between purchaser and vendor in post-auction negotiations.
Discussions continued till 11pm final evening, with the hole now all the way down to $300,000.
TRG opened its doorways final September with Rubinstein and 5 staffers.
The crew has now grown to 18 and Rubinstein is trying to open a second workplace within the east because of their ongoing success.