It was an expensive endeavour that involved the purchase of a block of four apartments acquired separately over two years for $35.5 million,and the two properties next door owned by developerJohn Roth for $80 million.
The block of four apartments on the Darling Point waterfront was only part of the three-property consolidation site in play by Michael Teplitsky.Domain
Despite the outlay,in a city starved of suitably huge apartments for a generation of cashed-up downsizers,the deal would have made Teplitsky an even richer man.
Property developer Michael Teplitsky sold a block of four apartments on the Darling Point waterfront for $55 million.Brook Mitchell
But it wasn’t to be because earlier this year Teplitsky failed to settle on the $80 million deal,and soon after his block of four apartments was put up for sale by 1st City’s Julian Hasemer and Colliers’ Matthew Meynell. It sold recently for $55 million.
But the prime north-facing site consolidation looks like it is still in play,according to sources who say the buyer behind the $55 million block is Henroth,the Roth family’s investment and development company that Roth and his brotherStanley founded 30 years ago.
Banks cashes in at Double Bay
The Double Bay terrace purchased by Andrew Banks 18 months ago is back up for sale.Domain
The strength of the eastern suburbs property market is likely not lost on Point Piper’s celebrity businessmanAndrew Banks,which may explain why last week he listed his Double Bay terrace 18 months after he purchased it.
Andrew Banks is a judge on the reality television show Shark Tank.Louie Douvis
The judge on the Shark Tank reality show purchased the Victorian-era terrace on 310 square metres in the heart of the village in late 2021 for $10 million amid talk of it being used by visiting family,but it has been left all but redundant until leased recently.
Sotheby’s Clint Ballard and Michael Pallier have a $13 million guide.
Also making good of the market isEileen “Big Red” Bond,who has listed her long-held pad in Potts Point’s historic art deco building,Tara,for auction on July 18.
The Perth-based Bond has owned the one-bedder since 1986 when she was married to the late business tycoonAlan Bond,paying $48,000 to make it an investment. There is also a bolthole for her own use on the Double Bay waterfront that she purchased the same year.
The one-bedroom apartment of Eileen Bond is set in the historic Tara building in Potts Point.Domain
Jane and Samuel Schumann,the mother-son team from Raine&Horne Unlimited,have a $780,000 guide.
Eileen Bond at the Gold Dinner fundraiser last year.Andrew Hornery
Not to be outdone,childcare businessman and GWS Giants deputy chairmanAdrian Fonseca has listed his Terrey Hills equestrian estate with a guide of $15 million to $16 million.
The listing comes some 18 months after Fonseca upgraded his local real estate,buying the Claremont in Duffys Forest for $14.38 million.
The Bellevue Hill-based Fonseca and his wifeNancy Reardon-Fonseca have owned the Terrey Hills acreage since 2016 when it was purchased for $4.6 million,but have since commissioned a major up-grade by high-end architectural firm Cadence&Co.
The Terrey Hills acreage of Adrian Fonseca has newly built equestrian facilities,seven paddocks,swimming pool and two residences.Domain
Sydney Country Property’s Shayne Hutton is expecting to set a new high for Terrey Hills,topping the $12 million that league legendBrad Fittler to Telstra chairmanJohn Mullen.
The Fonseca property comes to market as financierSimon Tripp and his wifeBrenda launched a marketing campaign on their Duffys Forest acreage,Jabilusa,with $14 million to $15 million hopes.
The was previously an off-market offering before Christie’s Darren Curtis and Shayne Hutton took it over recently.
Howzat
Cricket greatIan Chappell and his wifeBarbara have already made good timing of the sale of their Bayview home of the past almost 40 years.
Former Australian cricket captain Ian Chappell has sold his Bayview home of almost 40 years.Janie Barrett
The former Australian Test captain recently told this masthead it would be terrific if the market is going up,but “I don’t get too carried away by market fluctuations”.
Fortunately for the Chappells,buyers do get carried away. Six registered buyers at the auction of D&S Hunter’s Duane Hunter took the result $800,000 more than the reserve to sell under the hammer for $3.55 million.
AndCharles Fairfax,the youngest son of the late society queenLady (Mary) Fairfax,also sold last week,securing about the $4.5 million guide that his Bellevue Hill apartment was listed for a few weeks ago by Sotheby’s Michael Pallier.
The three-bedroom apartment in the Parc building sold after it was listed for $4.5 million.Domain
The three-bedder is owned by a trust registered to Charles’s former Watsons Bay home,and directed by Fairfax family trusteesBruce Solomon,James Momsen,Peter Done andLee Thomas.
Finally,also sold is the Double Bay apartment of the late Jan Gowrie-Smith,best known as the former wife to entrepreneurIan Gowrie-Smith until 2003 when she won one of the largest divorce settlements to be awarded by a British court,reported at £10 million at the time.
Gowrie-Smith died suddenly in 2021,prompting the apartment to be listed with The Blacket Agency’s Peter and Jacqueline Blacket with a $6 million guide.
Gowrie-Smith also previously owned Darlinghurst trophy home Iona,until she sold it in 2006 for $10 million toBaz Luhrmann andCatherine Martin.