Double Bay penthouse sells for $10.26m, $2.26m over reserve

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7/11 Guilfoyle Avenue, Double Bay. NSW Actual Property.


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.

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7/11 Guilfoyle Avenue, Double Bay, has a wraparound terrace.


Most rooms opened to the terrace.


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!”

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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.

It has in depth inside residing area as effectively.



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.

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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.

The hedges and high flooring place meant the deck was utterly personal.



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.

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