Latest news with #StephenLiebowitz
Daily Telegraph
6 days ago
- Business
- Daily Telegraph
2025 Sydney house price record broken twice in a week
The 2025 Sydney house price record has been broken twice in a week, with two sales totalling more than $110m. First came news yesterday via sources that the Point Piper mansion of Retail Apparel Group co-founder Stephen Liebowitz and his wife, Pam had sold for $55m, via Ray White Double Bay's Adam Reichman and Elliott Placks in conjunction with Michael Pallier of Sotheby's. The sale occurred last week but was being kept under wraps. And then, last night, an Instagram post from Ray White Double Bay's Riki Tawhara confirmed the sale of 38 Vaucluse Rd, Vaucluse, owned by 98-year-old philanthropist Isaac Wakil, that's sold 'above our guide of $55m'. MORE: Billionaire chicken heiresses record-breaking sale MORE Lowe heirs Point Piper mansion sells Whereas the first sale equalled the previous 2025 record $55m house price sale in February, of 12 Dumaresq Rd, Rose Bay, this latest deal exceeds that. The big sales must be exciting news for Ray White Double Bay principal, Elliott Placks, who had a hand in both deals, as he prepares to move into his new five-storey Double Bay HQ next month. Placks was tight-lipped about the buyers of both properties, citing NDAs, though it's known he had multiple buyers on both which helped create urgency. Still, the vendors had to accept considerable discounts on their previous price guides, with the Liebowitzs original guide of February, 2024, $65m. And although the most recent guide for the Vaucluse property may have been $55m, when it hit the market last month it was reported at 'around $70m'. The Dumaresq Rd, Rose Bay property that sold in February, owned by recycled shopping bag tycoon Frank Qiang Gengh and his wife Juanjuan Zhao, took a $20m price cut. Dyson Austen prestige property valuer Simon Feilich had a simple explanation for the recent rush of sales as the end of financial year approaches. 'The main driver is the low Aussie dollar and lower interest rates driving increased asset prices.' Isaac Wakil had owned the Vaucluse Rd 1400sqm property, with its house set for the demolition ball but with panoramic Sydney Harbour views, for 65 years. Isaac and his late wife Susan were both immigrants from Romania and Iraq and had no children. They owned a range of commercial properties across Sydney, including the Terminus Hotel in Pyrmont and the landmark Griffiths Tea building in Surry Hills.
News.com.au
6 days ago
- Business
- News.com.au
2025 Sydney house price record broken twice in a week
The 2025 Sydney house price record has been broken twice in a week, with two sales totalling more than $110m. First came news yesterday via sources that the Point Piper mansion of Retail Apparel Group co-founder Stephen Liebowitz and his wife, Pam had sold for $55m, via Ray White Double Bay's Adam Reichman and Elliott Placks in conjunction with Michael Pallier of Sotheby's. The sale occurred last week but was being kept under wraps. And then, last night, an Instagram post from Ray White Double Bay's Riki Tawhara confirmed the sale of 38 Vaucluse Rd, Vaucluse, owned by 98-year-old philanthropist Isaac Wakil, that's sold 'above our guide of $55m'. MORE Whereas the first sale equalled the previous 2025 record $55m house price sale in February, of 12 Dumaresq Rd, Rose Bay, this latest deal exceeds that. The big sales must be exciting news for Ray White Double Bay principal, Elliott Placks, who had a hand in both deals, as he prepares to move into his new five-storey Double Bay HQ next month. Placks was tight-lipped about the buyers of both properties, citing NDAs, though it's known he had multiple buyers on both which helped create urgency. Still, the vendors had to accept considerable discounts on their previous price guides, with the Liebowitzs original guide of February, 2024, $65m. And although the most recent guide for the Vaucluse property may have been $55m, when it hit the market last month it was reported at 'around $70m'. The Dumaresq Rd, Rose Bay property that sold in February, owned by recycled shopping bag tycoon Frank Qiang Gengh and his wife Juanjuan Zhao, took a $20m price cut. Dyson Austen prestige property valuer Simon Feilich had a simple explanation for the recent rush of sales as the end of financial year approaches. 'The main driver is the low Aussie dollar and lower interest rates driving increased asset prices.' Isaac Wakil had owned the Vaucluse Rd 1400sqm property, with its house set for the demolition ball but with panoramic Sydney Harbour views, for 65 years. Isaac and his late wife Susan were both immigrants from Romania and Iraq and had no children.
News.com.au
6 days ago
- Business
- News.com.au
Point Piper mansion sells for $55m, equal top sale of the year
A Point Piper mansion has sold for $55m, equalling the record for the highest priced property sold so far this year. The most recent deal was for the home of Retail Apparel Group co-founder Stephen Liebowitz and his wife, Pam, via Ray White Double Bay's Adam Reichman and Elliott Placks, in conjunction with Michael Pallier of Sotheby's. The four-bedroom Wolseley Rd residence is still listed as for sale on though sources say the hush-hush deal was finalised on Friday night to a Sydney buyer. The property was first listed in February 2024 with ambitious $65m price hopes, but, like the other $55m sale this February, the vendors had to lower their expectations to get the deal done. Billionaire chicken heiresses record-breaking sale For that sale, 12 Dumaresq Rd, Rose Bay, vendors recycled shopping bag tycoon Frank Qiang Gengh and his wife Juanjuan Zhao had to accept a $20m price cut. Agents Brad Pillinger of Pillinger and Michael Pallier of Sotheby's had initially listed that residence for $75m the previous June, though the $55m was still sufficient to nab the Rose Bay house price record. The property was the top sale in the first quarter, as revealed by The Dyson Austen Top 10 Prestige Residential Survey. The buyer was media baron Linge Dai. No word yet on the buyer in Wolseley Rd, Point Piper. At the time it was listed for the Wentworth Courier House of the Week, Reichman had described the Leslie Wilkinson-designed property known as Vaynol as having everything a Point Piper buyer would want. 'This property showcases all of Sydney's best icons in full view and offers an absolutely unmatched lifestyle,' he told Kirsten Craze. 'Created by Wilkinson, one of Australia's most well-known architects, and updated by Michael Suttor, the whole home is extraordinary with three unbelievably sized bedrooms all on the one level.' The period property has been tightly held since the Liebowitzs bought it for $12m in 2004 from James Packer's right-hand man, Ben Tilley. The Liebowitzs have moved to Double Bay, having paid $24.9m for an off-the-plan penthouse in the luxury Ode building. Records show the heritage-listed Wolseley Rd residence was created in 1955 for WWI hero Colonel Leslie James Morehead for a cost of £15,555.
Daily Telegraph
6 days ago
- Business
- Daily Telegraph
Point Piper mansion sells for $55m, equal top sale of the year
A Point Piper mansion has sold for $55m, equalling the record for the highest priced property sold so far this year. The most recent deal was for the home of Retail Apparel Group co-founder Stephen Liebowitz and his wife, Pam, via Ray White Double Bay's Adam Reichman and Elliott Placks, in conjunction with Michael Pallier of Sotheby's. The four-bedroom Wolseley Rd residence is still listed as for sale on though sources say the hush-hush deal was finalised on Friday night to a Sydney buyer. The property was first listed in February 2024 with ambitious $65m price hopes, but, like the other $55m sale this February, the vendors had to lower their expectations to get the deal done. MORE: Billionaire chicken heiresses record-breaking sale For that sale, 12 Dumaresq Rd, Rose Bay, vendors recycled shopping bag tycoon Frank Qiang Gengh and his wife Juanjuan Zhao had to accept a $20m price cut. Agents Brad Pillinger of Pillinger and Michael Pallier of Sotheby's had initially listed that residence for $75m the previous June, though the $55m was still sufficient to nab the Rose Bay house price record. The property was the top sale in the first quarter, as revealed by The Dyson Austen Top 10 Prestige Residential Survey. The buyer was media baron Linge Dai. No word yet on the buyer in Wolseley Rd, Point Piper. At the time it was listed for the Wentworth Courier House of the Week, Reichman had described the Leslie Wilkinson-designed property known as Vaynol as having everything a Point Piper buyer would want. 'This property showcases all of Sydney's best icons in full view and offers an absolutely unmatched lifestyle,' he told Kirsten Craze. 'Created by Wilkinson, one of Australia's most well-known architects, and updated by Michael Suttor, the whole home is extraordinary with three unbelievably sized bedrooms all on the one level.' The period property has been tightly held since the Liebowitzs bought it for $12m in 2004 from James Packer's right-hand man, Ben Tilley. The Liebowitzs have moved to Double Bay, having paid $24.9m for an off-the-plan penthouse in the luxury Ode building. Records show the heritage-listed Wolseley Rd residence was created in 1955 for WWI hero Colonel Leslie James Morehead for a cost of £15,555.
