Goldman Sachs chief’s big pay day in Point Piper

The head of Goldman Sachs, Zac Fletcher, has made a big profit with the sale of his apartment in a former mansion in Point Piper.

The foyer at circa 1903 Ardenbraught in Point Piper, where Goldman Sachs chief Zac Fletcher has sold an apartment for circa $13m.

The head of Goldman Sachs, Zac Fletcher, has made a big profit with the sale of his Point Piper apartment this spring.

The luxurious three-bedroom pad with iconic harbour views in the Ardenbraught block at 4/23 Wentworth St, Point Piper sold pre-auction for circa $13m, $2m more than the comparable sales Ray White Double Bay principal Elliott Placks and his colleague Adam Reichman were quoting.

“We had three buyers fighting over it and the winning couple were a downsizing couple from the east,” Placks said.

Fletcher had bought it for $9.41m less than two years ago — so he’s made a profit of about $3.6m.

MORE:

‘Secret’ MAFS retreat has $15m price tag

The apartment offers 250 sqm of living space.

And iconic views.

4/23 Wentworth St, Point Piper. NSW Real Estate.

The result was $3.6m more than Fletcher bought it for just two years ago, but the quality listing, with 250sqm of living space in the repurposed circa 1903 former mansion, won the hearts (and wallets) of cashed-up enthusiastic buyers.

Same goes with Reichman’s top-notch listing at 29 Fitzwilliam Rd, Vaucluse.

The five-bedroom residence, owned by former JB Hi-Fi non-executive director Gary Levin and his wife, Rossalyn — bought for $2.47m in 2009 — had a $16m guide for last Thursday’s auction.

But he sold it the day before for circa $17m. “It was very competitive,” Reichman says, with it ticking “every box”: north-facing; ensuites with four of the five bedrooms; pool, lift; views; and a garage for six cars, even an EV charger.

29 Fitzwilliam Rd, Vaucluse sold for circa $17m

It ticked a lot of boxes for buyers, including these views.

Reichman had a $16m price guide.

All of that and just a minute’s walk to Vaucluse’s best beaches — no wonder it was a hot ticket.

Meanwhile, Ray White director Warren Ginsberg has also had a productive week, notching up five sales including the Rose Bay apartment of Tali Jatali — the fourth property he’s sold for the former model and popular socialite — for $4.01m.

He’d been guiding $3.7m for the three-bedroom apartment at 3/20 Dover Rd that last traded for $3.72m three years ago — snapped up pre-auction by a returning expat couple who’d been living in Geneva.

“If you price it right and you’re honest and transparent with both the vendor and the buyer, you can create a sale,” Ginsberg said.

3/20 Dover Rd, Rose Bay sold for $4.01m.

It’s the fourth property that Ginsberg has sold for the former model and popular socialite, Tali Jatali.

His other sales included 20 Blair St, North Bondi which fetched $5.4m ($4m-$4.4m guide); 108 Old South Head Rd, Vaucluse for $4.38m (guide $4m); 702/1-3 Banksia Rd, Bellevue Hill for $3.3m (guide $3m) and 6 Davies Ave, Vaucluse for $4.085m (guide $4m).

Ginsberg said some agents were continuing to over-inflate price guides, which was counter-productive.

“They’re not selling — buyers want to see value,” Ginsberg said.

“The market’s very price sensitive, but if you get the price guide right, they’re active.”

Originally published as Goldman Sachs chief’s big pay day in Point Piper