The owners of an award-winning luxury home have had to settle for a lower asking price after it first came on the market a year ago.
The massive six-bedroom mansion just meters from Brontë Beach in Sydney’s eastern suburbs was put up for sale for $30 million last October.
However, property developer Andrew Podgornik and his wife Chloe, daughter of former Just Jeans boss Craig Kimberley, sold the house last week for just $25 million.
The couple purchased the property for just $7.44 million in 2008 and commissioned the late architect Nick Murcutt and his wife Rachel Neeson to build their dream home.
After tearing down the original cottage, Murcutt designed the pavilion-style house to be “wrapped” in gardens with juxtaposed concrete exteriors.
Unfortunately, the architect died in 2011 after a nine-month battle with lung cancer, before one of his last projects was completed in 2017.
It was the best new residential property in New South Wales in the Houses Award 2018 and appeared on the short list for the Australian Institute of Architects National Award.
Despite the awards and proximity to the beach and shopping, the property couldn’t get enough support with last year’s whopping $30 million price tag.
An award-winning home just meters from Brontë Beach in Sydney’s eastern suburbs (pictured) has sold for $5 million less than its asking price when it came on the market last October.
The $30 million would have equaled Brontë’s home price record, set last year by a similar six-bedroom “trophy home” around the corner.
However, the house failed to make it through initial negotiations and CrEight owner and creative director Nadia Jacob acquired it at a discounted price. Domain reported.
Selling agent Simon Exleton said there was a “flurry of momentum” for the property when it first came on the market.
“Several contracts have been issued… all from local families who are growing or people looking to build themselves or buy someone else’s finished product,” he said.
Ms Jacob, a property designer turned developer, has built her portfolio flipping houses in the eastern suburbs over the past two decades.
The house failed to make it through initial negotiations last year and CrEight owner and creative director Nadia Jacob (pictured) purchased it at a discounted price.
The six-bedroom mansion (pictured) was one of architect Nick Murcutt’s last projects before his death in 2011 following a nine-month battle with lung cancer.
Jacob recently sold his apartment on Notts Avenue, just a short walk from Bondi Beach, for around $9 million.
His penthouse on the same block, shared with support work platform Mable founder Peter Scutt, is also rumored to be up for sale after paying $8 million in 2021.
It also previously held the house price record for Brontë after the sale of her home in 2016 for $14.5 million, while her former home in Tamarama sold for $12 million in 2020.