A Bronte house sale in Sydney’s Eastern Suburbs has left locals shocked after it smashed the suburb’s record for most expensive house sold in the East. What’s more: it sold for an even higher price than first rumoured.
That’s right: even though there was talk of the place going for a record high of $18 million, it actually sold for almost $5.5 million more.
It was sold to blockchain start-up co-founders Joanne Way Yee Huynh and Dorjee Sun, who are returning from Singapore. The house had only been on the market for a week (with an $18 million price guide) before they snapped it up for $23.3 million – a house record for the Eastern Beaches.
This shocked some locals. Fine art beach photographer Eugene Tan, who has been shooting daily since 1999, wrote of the sale on Instagram: “Did you see a house just sold for 23 mil on Bronte Beach? Yeah, only a lazy 23 million. Property market is nuts. That’s a 15 million dollar profit in 5 years. You know the property market is hot when it features in my daily ramble.”
Of the couple that bought the house, Domain reports that Joanne Huynh “is well-established in Singapore’s start-up community as a co-founder of blockchain company Perlin, where she is in charge of strategy and finance.”
Domain added: “Husband Dorjee Sun is Perlin’s chief executive, and is the founder of Carbon Conservation, which works to tackle the problems of deforestation in Indonesia, as chronicled in the 2008 award-winning documentary, The Burning Season, narrated by Hugh Jackman.”
Of the record price, Domain adds: “The purchase by the returning expats tops Bronte’s $17.9 million record set last year by green energy entrepreneur Carl Prins.”
“The Eastern Beaches house price high was previously $22 million, set in June by the sale of the North Bondi home of interior designer Michalle Smith and architect Alex Smith to businesswoman Lenka Dransfield.”
The $23.3 million Bronte home that just sold has five bedrooms and overlooks Bronte Marine Drive, opposite the surf break, comprising 485 square metres.
The previous owner of the house – a head of a private equity firm, who purchased it five years ago for $8.05 million – will presumably be contratulating himself on a nice pay day. According to Domain, “the deal translates to more than $48,000 per square metre.”
And, to think, we thought this $2.7 million Alexandria sale was pricy…