Mark Beretta discounts Mosman house asking price by $1.75m to $15.5m

Mark Beretta has been forced to reduce the asking price on his Mosman home by $1.75m — but the Sunrise sports presenter will still make a multimillion-dollar profit.

Cost of living is crunching the everyday Australian, but that might look a little different for your household than it does for Mark Beretta’s.

The Sunrise sports presenter has had to discount his dream Mosman home by $1.75 million.

The rebuilt five-bedroom, three-bathroom, four-car luxe pile on Mandolong Rd was originally priced at $15.5m, but was caught on the costly downside of the volatile Sydney property market.

It was listed for sale with Michael Coombs and Bo Zhang of Atlas in early February, but is still appearing for sale on realestate.com.au after its scheduled auction on Wednesday night.

The three-level house ranks in the suburb’s priciest top 10 home offerings currently for sale, and new inspection dates have been added for Saturday and next Thursday.

Rachel and Mark Beretta have heavily discounted …

… the asking price for their Mosman home.

If Beretta manages to sell for the new asking price of $13.75m, the 56-year-old stands to make a measly $1.14m of passive income on the home for each of the six years he’s owned it.

For those counting the pennies at home, that’s $6.825m total profit, or more than the cost of the home when the Berettas bought it.

The rebuilt five-bedroom, three-bathroom, four-car property on Mandolong Rd was originally priced at $15.5m.

It has views of Middle Harbour towards Little Manly and North Head.

The breakfast television star and his wife Rachel acquired the property in 2017 for $6.025m, and spent more than $900,000 on its renovation according to council records.

They commissioned Matt Gibson Architecture, and Batchelor Isherwood Design for its interiors.

The couple, who will be empty nesters, have lived on the Lower North Shore since 2000, with the listing being their third renovation project in coastal Mosman.

The prestigious and sought-after 2088 postcode has one of the largest combined taxable incomes in Australia.

However, Beretta’s place has been on the market for 51 days, a week short of slow-moving Mosman’s 58 day median, according to realestate.com.au.

Perhaps an indication that even Sydney’s well-heeled are feeling the inflationary pinch.

Mosman’s median house price currently sits at $4.8m which is down 7.5 per cent annually. Despite the headwinds, Mosman ranks as one of the two Sydney local council precincts — along with Hunters Hill — where every vendor in the December quarter made a profit on their resale, according to CoreLogic figures.

And March saw its priciest sale of the year when around $20m was paid for the historic home, Urunga.

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