A new Spring listing is set to eclipse Finder co-founder Fred Schebesta’s ‘Crypto Castle’ record eclipsed in South Coogee, potentially surpassing it significantly.
Records have been falling in this hotspot since the Bunya Rd mansion sold for $16.85m, highlighting its record.
In March, two properties at 2-4 Bunya fetched $19m, the late Wallabies winger Alan Cardy’s home at 1A Seaside Pde sold for $18.25m, and 56 Cuzco St reached $17.15m.
Ball has listed 17-19 Seaside Pde with a $16m guide, which could eclipse several high-profile sales.
‘Crypto castle’ record eclipsed
“We’ve got strong interest at the price guide,” says Ball. “This listing could eclipse others, but we’re only at the second open.”
“Fred’s is more unique, but this is probably more traditional,” Ball explains, highlighting the different characteristics of each property.
Described as an “absolute oceanfront triumph with awe-inspiring views,” the property is currently owned by Lihua Ian, who purchased it.
Records indicate Lihua Ian acquired the property for $4.8m in 2008, buying it as a shell due to the builder’s bankruptcy.
Ball notes, “It was bought as a shell, because the builder who was constructing it went bankrupt during the project’s development.”
The current vendors completed the residence, which spans four levels and features six bedrooms, seven bathrooms, and a four-car garage.
The home offers every conceivable luxury, with 180-degree views, a 15.6m frontage, and extensive space on an 854sqm double block.
With 700sqm of internal space, the concrete and steel home includes terraces, an internal courtyard, multiple living areas, and a self-contained apartment.
It also boasts an infinity-edge pool, sauna, outdoor kitchen, and lift access to all levels, providing ultimate convenience and comfort.
Ball says the top-end market in South Coogee remains robust this spring, showing resilience in high-value property transactions.
“The money is moving further south, with buyers from Bronte and Bondi now purchasing properties in Coogee and South Coogee,” says Ball.
“We sold 16 properties in August, indicating that there is still considerable depth and activity in the market this season.”
Ball notes there are opportunities in the $3m-$5m range, where buyers can find value despite the competitive market conditions.
“We’ve seen more stock available recently and a higher volume of transactions a month ago, reducing the market’s urgency,” Ball adds.
