Elias Jreissati family home could set Port Melbourne record

HMAS Port Melbourne

Elias Jreissati has relisted his three-storey HMAS penthouse in Port Melbourne for $18 million –  a potential suburban record price.

The Benson Property Group group offered the unit in 2014 – at the same time as a $22m sub-penthouse at Southbank’s Eureka, deciding to let the market decide which remaining one he would move to.

Mr Jreissati and his wife, Colleen, have lived at the waterfront property, 191/85 Rouse Street, for 12 years.

Three children have reportedly now moved out.

The HMAS apartment spreads 1040 sqm (compared to the Eureka offering, E82, which has a 620 sqm internal area) and contains five bedrooms, an 1800-bottle cellar and security system for wall art (the executive is said to hold Brett Whiteley’s Lavender Bay at Dusk, estimated at $1.1m).

A rooftop has also been fitted as an entertainment zone capable of accommodating 100 people; it is speculated politicians Ted Baillieu and Steve Bracks have been to events there.

Three years ago the businessman was seeking in excess of $18m.; according to the most recent ads, that price is a firm $18m now.

An enormous rooftop – which has hosted politicians including Ted Baillieu and Steve Bracks – is capable of accommodating more than 100 guests.

Mr Jreissati paid $3.75m for the unit in 2003.

He spent $6.7m on the Eureka shell in 2010.

Last month, investors Tab and Eva Fried and Nonda Katsalidis sold their 11-year old but never lived in 84th level, full-floor Eureka apartment for $15 million.

Businessman Anthony Podesta is also seeking a buyer for a full-floor unit in the building – on the 86th floor, it carries an $18m-plus guide.

The record paid for a Melbourne apartment was set in April, 2015, when an offshore investor reportedly outlaid $25m, off-the-plan, for the 100th (top) floor of the Australia 108 complex, under construction, also in Southbank.

Share or Recommend article

Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au