Richard and Jane Freudenstein at home in Mosman. It sold prior to auction for about$17.3m — the highest price paid in the suburb so far this year.
Richard Freudenstein, director of Realestate.com and former CEO of Foxtel with his wife Jane, have sold their Mosman home prior to auction for around $17.3m – the highest price paid in the suburb so far this year.
The David St home on 1150sqm of land, had an $18m auction guide and a March 12 auction date but after testing the market the couple decided to take the strong early offer.
Geoff Smith, of Ray White Lower North Group, couldn’t comment on the sale or confirm the price, which was left to industry sources.
However, he did say the current market was price sensitive, stable and he had interest on all the properties he has listed.
MORE:
Gavin Rubinstein pulls agents back from Dubai
28 David St, Mosman had an $18m guide.
It was set for March 12 auction.
“There are definitely buyers out there. The market is stable, not going up nor going down,” he said.
Michael Coombs, of Atlas, said many buyers were cautious and vendors’ expectations had to adjust but deals were starting to come together.
“That’s understandable given global uncertainty, interest rates and talks of tax changes. However, we’re now seeing over caution holding buyers back and history shows that hesitation in a stable market often costs more than it saves,” he said.
Michael added that he had offers on several properties between $20m and $30m and open house inquiry numbers were up 40 per cent.
Ray White agent Geoff Smith said the market was “price sensitive”.
He has interest in all the properties he has listed.
Veteran buyers’ agent Peter Kelaher, of Mosman, said the sense of urgency had gone out of the market, the market probably fell at the end of last year but is now stabilising and there were many $20m plus properties listed in Mosman.
“And talk of Capital Gains Tax and negative gearing changes, the RBA talking about hiking up interest rates and geopolitical challenges, it’s a perfect storm,” he said.
“A-grade property prices are still heading north, B-grade properties are going sideways or east and C-grade properties are going south,” he added.
Note: Realestate.com.au is majority owned by News Corp, publisher of the Daily Telegraph and Mosman Daily.
MORE:
English (US) · 