06-08-2025
$85m in Sydney Lower North Shore real estate sells in a week
More than $85m worth of waterfront real estate has traded this week on the Lower North Shore with just two sales, smashing records.
A local buyer has paid more than $43m for a dated house on waterfront reserve at Chinaman's Beach.
And a waterfront house in Elamang Ave, Kirribilli has sold for slightly more than $41m. Both properties were off-market with deals done quietly.
The massive sales means Mosman's residential record has just lifted more than $3m and Kirribilli's real estate record has risen by a staggering $18m. And the Spring selling season hasn't got underway yet.
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The Mosman sale was in McLean Cres on 1035sqm of land near the beach carpark. It was owned by property developer Vic Virgona and his wife Maria Virgona who bought two neighbouring homes and combined them.
They owned the first one then when the next-door home came up for sale in 2010 they bought that for $5.5m and joined them up. The house had an indoor pool, gym and four bedrooms. But its value was all in its position. The Virgona's are moving to a Manly penthouse.
Rob Klaric, of The Property Expert International, said three buyers were after the prime property, it was bought by a local family and he represented the underbidder.
'The house was a bit dated but you'll never get that size of house anywhere so close to the water and it was presented beautifully,' he said.
The sale was negotiated by Glenn Curran, of The Agency, who has now achieved not only the highest residential sales price in Mosman but also the highest north of the Sydney Harbour Bridge.
Meanwhile a waterfront house on an average sized block in Elamang Ave has traded for a massive new suburb record. Ken Jacobs, of Forbes Global Properties, is believed to have sealed the deal but he couldn't be contacted for comment.
In Kirribilli the previous record was $22,962,664 for a 19th century former guest house in Carabella St, in 2022, according to REA.
The McLean Cres home with views of the harbour has now eclipsed the previous record for Mosman which was $40m for the Kia Lama Federation mansion, also on a big block of land at 2600sqm, owned by banker and Swans chairman Andrew Pridham in Bradleys Head Rd and purchased by Mark and Rosemary Mezrani of Kidstuff's fame last year.
The record for northside Sydney is $42.75m for a Northbridge waterfront home in Coolawin Rd sold by Kristie-Anne Ward of the Primo Smallgoods family that sold earlier this year.
Agent report that with many of Mosman's freestanding houses being amalgamated into development sites for apartments, single homes on significant landholdings look set to become more rare and more valuable.
