Fashion heiress and her developer partner are dealt huge $5million blow
The owners of a luxurious award-winning home have had to settle for lower than its asking price after it first hit the market a year ago.
The owners of a luxurious award-winning home have had to settle for lower than its asking price after it first hit the market a year ago.
The massive six-bedroom mansion just metres from Bronte Beach, in Sydneys eastern suburbs, was listed for $30million last October.
Property developer Andrew Podgornik and his wife Chloe, daughter of former Just Jeans boss Craig Kimberley, however sold the home last week for just $25million.
The couple bought the property for just $7.44million in 2008 and commissioned late architect Nick Murcutt and his wife Rachel Neeson to build their dream home.
Having knocked down the original cottage, Mr Murcutt designed the pavilion-style home to be engulfed in gardens with juxtaposing concrete exteriors.
The architect unfortunately died in 2011 after a nine-month battle with lung cancer, before one of his last projects was completed in 2017.
It was NSWs best new residential property at the 2018 Houses Award and featured on the short list for the Australian institute of Architects National Award.
Despite the awards and proximity to the beach and shops, the property was unable to drum up enough support with the massive $30million price-tag last year.
An award-winning home just metres from Bronte Beach in Sydneys Eastern Suburbs (pictured) has sold for $5million less than its asking price when it hit the market last October
The $30million would have tied Brontes house price record which was set last year by a similar six-bedroom trophy home just around the corner.
However the home failed to get past initial negotiations and was just snapped up for a discounted price by CrEight owner and creative director Nadia Jacob, Domain reported.
Selling agent Simon Exleton said there had been a groundswell of momentum for the property when it first hit the market.
There’s been a number of contracts that have been issued ... all from local up-sizing families or people looking to either build themselves or purchase someone elses finished product, he said.
Ms Jacob, a property designer-turned developer has built her portfolio flipping homes in the Eastern Suburbs for the past two decades.
The home failed to get past initial negotiations last year and was snapped up for a discounted price by owner and creative director of CrEight Nadia Jacob (pictured)
The six-bedroom mansion (pictured) was one of the last projects by architect Nick Murcutt before his death in 2011 after a nine-month battle with lung cancer
Ms Jacob recently sold her flat on Notts Avenue, steps away from Bondi Beach, for around $9million.
Her penthouse pad in the same block, shared with support-work platform Mable founder Peter Scutt, is also rumoured to be on sale after paying $8 million in 2021.
She also previously held the house price record for Bronte after the 2016 sale of her home for $14.5million while her former Tamarama home sold for $12 million in 2020.
