‘Cash buyer’ snaps up beach cottage after $1m price drop

57 Cyrus St, Hyams Beach on the South Coast originally had a guide of $2.35m-$2.45m. Then it suddenly dropped to $1.45m and in came the offers. The cute Hyams Beach whaler’s cottage with ocean views that had a sudden $1m price drop has sold to a Sydney “cash buyer” after a bidding war. Interior designer Victoria Lillrud originally had hopes of $2.35m-$2.45m with Ray White’s Julie Gauci but yesterday News Corp broke the news that the guide for 57 Cyrus St had dropped to $1.45m after 60 days on the market with no buyer. Gauci, who was on her way around to the vendor’s home with a bottle of Champagne on Friday evening, revealed that the unique property had just exchanged for $1.585m to a single man from Balmain. MORE: Manly ‘dump’ for sale for $6m The interior designer vendor retained the original circa 1926 facade in the recent reno. The interiors were completely transformed, with herringbone timber floors throughout. The kitchen now has high-end finishes and appliances. The cashed-up purchaser, who sells antique cars for a living, fell in love with the stylishly renovated cottage with a view over Jervis Bay to Point Perpendicular and had been engaged in a bidding war with a couple f...