The Fairfax family have sold their Point Piper estate Elaine, setting a national house price record of more than $70 million.
The vast 6986-square-metre estate on Seven Shillings Beach was bought by a local family who are expected to keep it as a single, private estate.
Exclusive listing agent Ken Jacobs, of Christie’s International, was unable to reveal the sale price or buyer details, but was asking $75 million before it sold late on Friday.
The previous house record was set at $70 million in 2015 when Mr Jacobs sold the Vaucluse mansion La Mer on behalf of James and Erica Packer to Chinese-Australian businessman Chau Chak Wing.
“This is an emotional day. I sold a home that has been in the Fairfax family since 1891. I am delighted it is being purchased in one line by an Australian family,” John Breher Fairfax said exclusively to Domain.
There were at least two parties vying for the Point Piper residence before it sold, ending a three-year sales campaign for what is widely regarded as one of the most significant properties in Australia.
Read more at: https://www.domain.com.au/news/point-piper-estate-elaine-sold-for-more-than-70-million-sets-national-price-record-20170429-gvucsa/
