IT WAS an extravagant price for an extravagant home at the auction of 273 Storey Street at Maroubra yesterday, selling for $2.7 million, about $100,000 over buyer feedback.
With stunning panoramic water views, six bedrooms and generous open-plan living that is perfect for entertaining, one person from the crowd of 70 said: "I thought it would go for more but I suppose the market isn't good at the moment."
Even so, Ray White Maroubra/South Coogee agent Phillip Elmowy was pleased with the result for the vendors, saying it was exactly what they wanted.
The empty-nesters, whose three adult children were married last year, are downsizing to a penthouse unit in Coogee.
"The three-level solid-brick home was built eight years ago," he said. "The drawcard is the commanding views of Maroubra beach.
"More than 160 people came to inspect the stately home and we had a mixed demographic of mostly families - local and those that wanted to come back into the area to be closer to family."
That is the very reason new owners, Sans Souci residents Phillip and Irene, bought the house, but their two daughters had other reasons.
"The girls chose their rooms at the first inspection," Phillip said.
"They can't wait to have big parties with their friends and my wife and I love to entertain.
"Irene is originally from the east and after 20 years we are moving back to be closer to family and friends. Now we just have to bring in our pets: a schnoodle, rabbit and fish."
It's a shame they don't have a pet elephant; they have more than enough room with 480 square metres of house on 640 square metres of land.
Cooley Auctions auctioneer Charlie Powell had a first offer from the five registered bidders of $2.45 million, going up by $15,000 and $20,000 increments until it hit $2.63 million.
From there on it went up by $5000 or $10,000, almost being snapped up for $2.69 million.
A father and son tried their luck again with an extra $5000.
Mr Elmowy and co-agent Nader Hotait spoke to the registered parties again before the new owners snapped it up with an extra $5000.
The stunning property sits on the highest point in Maroubra's signature street with breathtaking panoramic views across the beach and coastline to Botany Bay. Wollongong is visible in the distance.
Everything is flawlessly appointed. As soon as an inspector walks in, they are drawn to the view in the open living space of the dining, lounge and amazing kitchen with lots of bench space for an aspiring MasterChef or elaborate entertainers.
Next to the first bedroom and first bathroom, in the centre of the house is a lovely spiralling staircase that takes you up to the other bedrooms. The top level gets great sunlight from the above atrium skylight and all except two of the bedrooms have a water view. Even the shower has a water view. Most bedrooms have a walk-in wardrobe or serious ceiling to floor closet space that would set fashion-loving Carrie Bradshaw-types into a spin.
Spiralling down to the bottom floor are the two garages that can house three cars and a great open-plan entertaining space and laundry/extra fridge room.
The glass concertina doors let the space flow into the tiled back area, past the glass pool fence to the in-ground pool and sun deck.
The only negative thing about the place is that you can see into other people's yards but with such fantastic views it's not a concern.
Source: pg 47, Sun Herald Domain 02/10/11 [read more]