Covid ‘masterpiece’ sold for $40m

A dramatic dream home that took six years to build during Covid has sold for around $40m.

1 Rawson Rd, Rose Bay sold for close to its $40m price guide.

A Rose Bay dream home that took six years to build during Covid has sold for circa $40m.

The five-bedroom “architectural masterpiece” designed by Studio Johnston at 1 Rawson Rd hit the market at the start of May in an expressions of interest campaign via Biller Property’s Paul Biller and Ben Torban.

The sold sticker went up today indicating a July 2 exchange.

When contacted, Biller refused to comment about the result or the buyer, saying simply: “The top end market is strong and we’re seeing a lot of activity.”

Other sources said the home sold for close to the $40m guide.

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It had iconic views.

The property was listed for sale in May in an expressions of interest campaign.

Company director David Pacanowski and his wife, Maxine, bought an old-style five-bedroom home on the 679sqm block for $6,825,000 in late 2015 with the intention of rebuilding.

But the project took nearly six years and in that time, their life changed.

They lived in it for several years while they worked out the type of home they wanted, commissioned the architects to design it, got their approvals sorted — there was a Land and Environment Court battle — and then set to work.

At the time of the May listing, David said: “We built it to live in, but because it took so long — Covid also delayed us — and now our son has moved to Byron and we just don’t need such a big house.”

The home has five bedrooms and five-bathrooms, a lift, pool and four-car garage.

It took six years to build.

Open-plan living areas led to the terrace.

Biller said at the time: “This is a turn-key home with unparalleled elegance and craftsmanship with iconic Sydney Harbour views at every turn.”

It’s the views that David Pacanowski says he’ll miss the most.

“The views are number one ….and the finishes are just unbelievably good,” he said.

“The joiner quoted us three months but it took 18 — you won’t find a crooked join in the house.

“The staff we had here were brilliant; we’ve known the builder for a very long time.”

Would he do a massive construction job again? “Never say never, but it’s not on my mind to do another development,” he says.

“Building through Covid was a nightmare and there’s so much red tape to go through — what you need to do is ginormous and time consuming and it costs a lot of money for a site to sit there for six years and not be used.”

Originally published as Covid ‘masterpiece’ sold for $40m