Melbourne business scion Tony Smorgon and his wife Jennifer Smorgon have set a fresh sale record for Melbourne homes, selling their Toorak mansion for at least $24 million.
The sale price for the newly built seven-bedroom home at 4 Robertson Street is understood to have pipped the previous record set in 2010 when property developer Harry Stamoulis bought the Baillieu family home in St Georges Road.
The Smorgons’ family home was sold to one of three local parties vying with other interested buyers for the property, market sources said.
Property title documents reveal the buyer as Shirley Ching Hua Hsieh.
Adding to the excitement, the property was sold in just 22 days after it was first put on the market by Marshall White agent Marcus Chiminello, who was not available for comment on Thursday.
While the palatial home took less than a month to sell, it took a number of years to build before it was completed in 2012.
The house was designed by Casper Architecture & Design and Thomas Hamel Interiors and sold with its specially designed furniture.
Among its many remarkable features is an interior lift, a grand dining room with a 20 seat custom built table, a marble staircase and a basement with a movie theatre.
Mr Smorgon is part of the broader business dynasty once headed by Victor Smorgon, who took over the family’s butchery business and diversified into steel and paper manufacturing.
The Smorgons headed the BRW Rich list of wealthy families last year with $2.74 billion.
After buying the Baillieu family home in 2010, Mr Stamoulis demolished it and transformed it into a $70 million mansion.
The most expensive home sold in the state remains a $26 million Portsea mansion acquired by BRW Rich Lister John Higgins in 2010.
Buyers agent David Morrell said the Melbourne market only produced a few sales above $20 million, if that, each year.
“So you won’t get a run of $20 million homes off the back of this,” he said.
However, the fact that the home was virtually brand new was a new test for the market, Mr Morrell said, noting it was rare case of a $20 million-plus mansion selling without a tennis court.
“It wasn’t the whole enchilada,” he said.
This story first appeared on The Australian Financial Review. Read it here or follow the AFR on Facebook.
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