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Has De Ferrari sold Sydney home for twice what he paid?

Has De Ferrari sold Sydney home for twice what he paid?

Garbo-turned-yacht broker Ian Malouf has joined the crush of prominent eastern suburbs families on Snapperman Beach in the exclusive Sydney suburb.

Dial-a-Dump founder Ian Malouf sold the company for $578 million in 2018 to Bingo Industries. Louise Kennerley

Rich List garbo-turned-yacht broker Ian Malouf has joined the crush of prominent eastern suburbs families on Palm Beach’s Snapperman Beach, buying a weekend getaway for about $20 million.

The beachfront house in the exclusive Sydney suburb has long been owned by the McNiven family, bought in 1997 for $2.06 million and held by late businessman John McNiven until recently, when Malouf negotiated to buy it directly.

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Original URL: https://www.afr.com/property/residential/rich-lister-buys-20m-palm-beach-getaway-20210601-p57wwx