21 Morella Rd, Mosman sold for about $12m.
Retired doctor Svetlana Kestelman, whose son Larry owns the NBL and has an estimated wealth of $1.36bn, has promptly sold her Mosman mansion for about $12m.
The Mediterranean-style home came to market in May with a guide of $12.75m and sold seven weeks later, which is prompt for prestige property currently.
Svetlana bought the Morella Rd property with its private access to Chowder Bay reserve and beach for $7.31m in 2020 and set about renovating the all-white four-bedroom, four-bathroom home overlooking the Bay.
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NBL owner Larry Kestelman.
Retired doctor Svetlana Kestelman had bought the property for $7.31m in 2020., and did an impressive reno.
The 1950s residence El Mirasol was designed to capture sunlight from morning to night, it has a prized northeast aspect and striking interiors reminiscent of Hollywood Glamour.
Michael Coombs, of Atlas, said a lot of people appreciated the street and the location and he had three buyers put in offers. He couldn’t reveal the exact price but it is believed the property sold circa $12m.
Svetlana and her electrical engineer husband migrated to Australia from Ukraine in the mid-1960s when Larry was 10.
It has a prized north-easterly aspect and stunning views.
The home has four bedrooms and four bathrooms.
The family lived in Melbourne and Larry’s father worked as a draftsman at General Motors-Holden.
Larry studied accounting, founded a telecommunications company, Dodo, in 2021 and in 2015 became the owner of the National Basketball League.
Last year the Australian Financial Review’s Rich List had Larry Kestelman with an estimated wealth of $1.36 billion.
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