The new owners of Australia’s most expensive oceanfront home turn out to be an Australian advertising guru and his wife, a film producer.
Billionaire David Droga, 54, and wife Marisa, Droga spent a record-breaking $45 million on Wednesday for their home in Tamarama, on Sydney’s Eastern Beaches.
The four-bedroom, two-bathroom house, called Lang Syne, is built on 1,100 square meters of land on the edge of the cliff and has been on the market since November.
The house’s previous owner, Dimity Griffiths, had lived there for 64 years with her husband, 1940s and 1950s comedian and radio star Harry, and their four children. The couple paid £9,750 for the property – about $18,000 today without adjusting for inflation.
The new owners, who live in Manhattan. New York, with their four children, has not announced their plans for the 99-year-old home.
Lang Syne has sold for the first time in 64 years for a record $50 million to a billionaire Aussie couple living in New York
David and Marisa Droga haven’t announced their plans for the 99-year-old house since they bought it Wednesday
Mr. Droga, a marketing executive and CEO who calls himself “The Dingo of Wall Street,” is considered one of the most powerful players in the global advertising space.
Throughout his 30+ year career, he has worked with the likes of Barack Obama and Beyonce and the United Nations.
He grew up in the Perisher Valley in the NSW Snowy Mountains before moving to Sydney, then Singapore and London, before landing in New York in 2003 to run a billion dollar advertising agency.
Droga: ‘A 16-year-old New Yorker is wiser than a 22-year-old Australian’ told 60 minutes.
“It’s a whirlwind, New York is a whirlwind—and then there’s the chaos of four kids. Taking the kids to school in the morning is perhaps the most chaotic part of my day.’
Mr. Droga founded his own agency, Droga5, in 2006, which was named one of the most innovative companies in the country in 2013.
Droga5 gained its reputation through obscure campaigns, including staging Air Force One footage with graffiti and an ad for Newcastle Pale Ale that undermined the NFL’s strict advertising policies.
The “If We Made It” campaign, which never played in the Super Bowl, focused on all the things the company would have produced — if only they had the money.
Forbes magazine labeled it the best advertisement of the 2013 event, despite not airing during the game.
Tourism Australia hired Droga5 for their 2018 Super Bowl advertisement featuring the fictional blockbuster: ‘Dundee: The Son of a Legend Returns Home’, starring Danny McBride and Chris Hemsworth.
Australia’s tourism is up 30 percent in 2019, airlines increased flights on the US-Australia route, and visa applications are up 11.5 percent.
In the same year, Mr. Droga sold his company for more than AU$650 million to Accenture, an IT and consulting specialist, where he is now CEO.
Droga5 got its name from the stitching his Dutch mother would leave on his socks and underwear, making him the fifth of his parents’ seven children.
Mr. Droga has had a marketing career spanning four continents for over 30 years
Lang Syne has unobstructed views of the beach and a huge 1100 square meter lot between Mackenzies Bay and Tamarama Beach
Lang Syne was originally built in 1924 by George Wolf, a bootmaker.
This latest sale of Lang Syne has set the record for the highest price for real estate outside the port – surpassing the existing record by $21 million.
The offer was originally published by Forbes’ Ken Jacobs with a price list of $47 to $52 million, which market analysts claimed was a low price for what was being offered.
Lang Syne is a regular part of the Bondi to Bronte coastal walk and covers the entire headland block between Mackenzies Bay and Tamarama Beach.