Melbourne’s version of Trump Tower taking shape
Gold wash basins, marble-finished interiors in a bold, state-of-the-art building — this is our version of Trump Tower. Tycoon Larry Kestelman says Melbourne has never seen anything like his luxury apartment complex.
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Larry Kestelman doesn’t like waiting, so when the rich lister built Melbourne’s tallest building outside of the CBD he made sure it had the world’s fastest lifts.
It takes just 25 seconds to get from Capitol Grand’s ground floor to his penthouse on the 50th. Larry says it’s the one-percenters that make the difference when you are inviting Toorak types to “downsize, not downgrade”.
Larry is his own one-percenter. He turned a Dodo into an internet provider. Unlike the extinct and flightless bird, it took wings.
Larry didn’t just buy a basketball team, he bought the National Basketball League.
His come-aboard boat for business deals and family holidays is a $13 million super yacht named Vegas.
So, when Larry bought South Yarra’s old Fun Factory site for $85 million back in 2014, promising to turn it into one of the world’s best apartment complexes, you start to believe the hype.
The Dodo founder turned developer is overseeing the final touches on Capitol Grand, the jewel in his hard hat.
When Larry does things he does big and just a little ostentatious. Think gold wash basins and marble-finished interiors.
A curved state-of-the-art building where the notorious Q nightclub once stood on the corner of Chapel St and Toorak Rd promises to give the precinct a boost to befit some of the tenants who will reside in its multimillion-dollar apartments.
Sound-silencing hardwood doors had to be taken up its lifts on customised trolleys because Larry says people need privacy.
Privacy to Larry meant front doors weighing 140kg each.
The Capitol Grand exudes exclusivity. He will open an invitation-only members club. But it won’t be just a gentleman’s club for cigar-champing males. Women are welcome too.
“It will be modelled on the Melbourne Club, but with women,” Larry says.
“I just don’t understand that.”
He means keeping women out of the fusty old Collins St bastion of male dominance.
Larry’s penthouse is the only apartment still to be fitted out. If you can call it an apartment. It will take up the 49th and 50th floors.
Page 13 was shown the 360-degree views across the city where he will live. The soaring ceilings will rival those in classic Paris apartments.
He is customising his mega apartment to his every need. Personalised 24-hour valet and concierge service are a given, which anyone from level 32 up can enjoy.
“It will be the best apartment in Australia,” Larry says nonchalantly.
Only a few of the penthouses left are for sale off market. Think a price tag up to $25 million.
“We are not compromising on this development,” says Kestelman.
The $800-million development will have a David Bromley-designed function room. “Function” is hardly fitting.
“There will literally be nothing like it in Melbourne,” says Kestelman, adding that Capitol Grand’s only rival might be James Packer’s unfinished Bangaroo Crown Resorts complex in Sydney.
Larry likes competition and says bring it on to other luxury apartment complexes under construction. One such is St Kilda’s Saint Moritz development for the uber-rich by Tim Gurner.
“Melbourne needed it,” says Kestelman.
“I’m glad to have broken the trail, it’s never easy to be blazing the way.”
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Headhunting the best in hospitality from the world’s number one restaurant, Eleven Madison Park in New York, Capitol Grand’s Omnia Bistro is open.
Announcing a list of luxury retailers is next, with Kestelman planning an opening extravaganza.
Oscar-winning actor Charlize Theron flew out to pique people’s interest in Capitol Grand even before a tradie’s boot had stepped on the site back in 2015.
A giant portrait of Theron by Vincent Fantauzzo, famous for his portraits of Heath Ledger and Baz Luhrmann, graces the communal dining area.
Larry says Theron might be back for the grand opening, if she makes the invite list. Larry loves a show.