Record Sydney home sale nets owner $17m profit as Mosman’s Urunga sells for about $20m
The payday of a lifetime has just come for one lucky homeowner, as a landmark north shore home sold for a stunning $20m.
The biggest sale of the year so far on the lower north shore is around $20m for Urunga, one of Mosman’s largest landmark homes.
Urunga, at 2 Buena Vista Ave, was bought last week for a confidential figure but close to $20m by a local family with three young adult children.
The vendors, Edmund and Ninette Braude, had their daughter’s wedding in the grounds.
The antique collector and his wife bought the property in 1990 for $2,625,000 from piano wholesaler Peter Hayward.
Nick Gittoes, of Atlas Lower North Shore, said the purchaser loves Federation homes, has held old houses before and is looking forward to restoring and retaining the character of Urunga which was built in 1901 and is on 2640 sqm of land.
“It took a while finding the right buyer,” he said.
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“It is a heritage listing and had been held for 32 years, there was a lot of work going on behind the scenes,” he added.
Urunga came to market in February last year with another agency and a $25m price tag.
When Nick and fellow agent Anthony Godson took over late last year the guide had been revised to $22m-$24m and the agents set about repainting and refreshing the five-bedroom Queen Anne Federation manor house.
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They also fielded international interest but in the end it was a local who saw the value and the potential of the property.
Anthony said there had been 118 buyer inspections, 15 contracts requested and seven offers received.
Prospective buyers loved the dual-street access, the potential for a garage and the possibility of adding to the back of the property.
The vendors, Edmund and Ninette Braude, had their daughter’s wedding in the grounds. The antique collector and his wife bought the property in 1990 for $2.625m from piano wholesaler Peter Hayward.
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Originally published as Record Sydney home sale nets owner $17m profit as Mosman’s Urunga sells for about $20m
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