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The home on Iluka St, Mosman.
Mosman notched up its second highest sale ever this week with crypto investor Steve Bellotti selling his architectural masterpiece house reportedly for as much as $32m.
That’s only the second time residential real estate on the lower north shore has sold north of $30m and it’s just behind the Mosman suburb record of $33m set in March this year for a large house with pool in Stanley Ave.
Both properties sold to Eastern suburbs buyers, both are large five-bedroom family homes and both are on large blocks of land.
The $32m price is the second highest Mosman sale ever.
Michael Coombs, of Atlas, confirmed this week that the Bellotti waterfront-reserve property in Iluka Rd completed in 2017, had found a buyer and had earlier observed that families from the Eastern suburbs continued to see value and space on the lower north shore.
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It’s just the second $30m+ sale in the suburb.
The home was billed as an architectural masterpiece.
It sits on a big block of land.
The Iluka Rd house is on 1720sqm of land and the concrete cantilevered house has the feel of a six-star resort with four living areas, pool, spa, gym, three-car garage and cul-de-sac address with secret beach.
It was billed as an architectural masterpiece offering maximum privacy and views.
This Stanley Ave home holds the Mosman record of $33m.
There were hopes the tri-level home might take the Mosman record when it was relisted after Covid with a guide of $36m-$38m.
More recently the guide was revised to “low $30 millions” and more buyers emerged and while Coombs couldn’t confirm the selling price local sources have it as high as $32m.
The very contemporary main bathroom.
The bottom level of the tri-level home.
The house was owned by former banker turned cryptocurrency investor and founder of TCM Capital Steve Bellotti, and his wife Carrie, who returned from overseas to ride out Covid but after lockdown then relisted their property.
According to Proptrack and based on 204 house sales in Mosman over the last 12 months the median house price in the suburb is $4,887,500 up 2.9 per cent in 12 months and days on market average 56.
The Iluka Rd and Stanley Ave properties are the only two transactions more than $30m.
Mr Coombs said some lower north shore property was seeing price guides revised upwards. He listed a Northbridge waterfront house this week with a guide of $11.5m-$12.5m, attracted 49 enquiries in two days and already has interest at $13m.
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