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Interests associated with Melbourne’s exclusive Bursztyn family have been revealed as the mystery buyers to pay a speculated $11.2 million for a Toorak mansion, at what local agents now describe as the peak of the blue-ribbon boom, in January.
Anthony Bursztyn, who local sources say is in the property development game, snared the 6-bedroom, 2-study mansion in the first week of the new year, making an offer before a scheduled auction.
The St James Place mansion is the second in Toorak to fetch more than $10 million, despite not having a tennis court. However, as the home spreads over two oversized Toorak blocks – one would think that’s a problem easy fixed.
The sale is the second highest priced property to sell in the suburb, following music producer Andrew McManus’ 6-bedroom Orrong Road home, which sold for about $13million, also in January.
Despite a bout of share market volatility, the jury is out as to whether the top end is rising, steady or heading backwards.
The biggest property put to the market last week, Comaques, in Kew, sold for just over $4 million – far less than the $4.5 million Abercromby’s director Tim Derham had earlier been quoting.
However, another property in Malvern’s ultra ritzy Embling Road sold for $3.95 million, which still assumes local land values as being at record levels consistent with last year.
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