‘Love at first sight’: Sudden sale of Laser Clinics boss’s mansion

Laser Clinics Australia co-founder Babak Moini just took a massive hit in a deal that went wrong.

99 Muston St, Mosman has sold suddenly — but not quickly.

Babak Moini, who co-founded Laser Clinics Australia, has sold his Mosman house suddenly – but not quickly – for $14.6m.

His trophy home has been on and off the market since May of last year but a fresh buyer recently inspected the eclectic home and it exchanged the next day.

Co-agent Lisa Novak, of Novak Properties, says 99 Muston St is not your conventional Mosman mansion but when the buyer saw it on the Saturday he absolutely fell in love with it – and the bold artwork which is all included in the sale.

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Founder of Laser Clinics Australia Babak Moini. Picture: Jane Dempster/The Australian

The home has a distinctive and quirky look, thanks to the reno.

It sold for $14.6m.

When the five-bedroom, four-bathroom house listed last year it had a guide of $15m-$16.5m. Moini has taken a haircut to the tune of almost $2m.

Leading Mosman agent Michael Coombs, director of Atlas, was the co-agent in the sale and advised Moini to rest the property last year when it failed to sell at auction.

Moini, a former actuary who fell into the laser hair business after wanting to get rid of his own excess body hair, listed his Balmoral slopes house for a June auction last year.

He undertook a complete makeover on the home, giving it a distinctive and quirky look.

Moini had to take a $2m haircut on the original asking price.

”A great property will always sell well when vendors are realistic,” says the agent.

There were black-tiled ceilings forming a cloud design, a marble kitchen with butterfly roofline, a floating central staircase and bold artwork everywhere.

The house also has sweeping harbour views, a mosaic-detailed swimming pool and a strong emphasis on space for living and entertaining.

“The Mosman market is up and down,” Novak says.

“But great property will always sell well when vendors are realistic.”

Originally published as ‘Love at first sight’: Sudden sale of Laser Clinics boss’s mansion