The reimagined home at 27 Victory St, Rose Bay, which has sold for circa $19.5m.
A house that sold for $7.62m two years ago has sold for “circa $19.5m” — after being “reimagined” by a property developer.
That’s not a bad outcome via Highland Double Bay Malouf director David Malouf in the current challenging prestige property market, which his fellow director and father Bill Malouf admits is “tough”.
Last week there were reports of the price hopes dropping $2m on the Olola Ave, Vaucluse home of cricket legend Michael Clarke, from more than $20m to above $18m.
The veteran agent Malouf said of the “adjustment”: “It’s ridiculous what’s happening in the world, fuel prices going through the roof and Trump thinking he’s king of the world. I heard this morning that Americans are wanting to move to New Zealand.”
MORE:
Homeowners band together for $140m windfall
27 Victory St, Rose Bay used to look like this, just two years ago.
Now it looks this.
But now, David Malouf, who’s understood to have had more than $100m in sales recently, has achieved a price nearly three times what the purchaser-developer, Robert Finianos, paid in March 2024 for 27 Victory St, Rose Bay.
The five-bedroom, six-bathroom home, which was the Wentworth Courier House of the Week on March 11, sold prior to its scheduled April 2 auction.
It’s basically the same floorplan …
… But check out the lounge room now!
The revamped home is certainly substantially grander, with an extra ensuite and an inground pool added, but a comparison of the floorplans shows he’s basically worked within the existing footprint, and being a developer he’d know how to do the job economically. Still, the result was more than $500k short of the $20m price guide.
The kitchen was pretty basic two years ago …
… not any more!.
In related news, the Bellevue Hill home of venture capitalist Clayton Larcombe of PAC Capital and his wife, interior designer Kyara, also being sold by David Malouf, is now a mortgagee in possession sale, with an auction guide of $34,500,000, down from $40m.
There used to be a sunny entertainment area in the back yard.
Now, there’s an inground pool.
65 Victoria Rd, Bellevue Hill now has a price guide of $34,500,000, down from $40m.
The five-bedroom home at 65 Victoria Rd is set for a May 7 auction.
Far fewer homes are selling for above their guides than last year, and the value of the top 10 home sales for this quarter, compared with the first quarter of 2025, is $74m down.
The top seller lost out big time, having bought a home with a tennis court because his son had recently taken up tennis, BEFORE listing the old one.
MORE:
English (US) · 