Buyer advocate and The Block regular, Frank Valentic, pocketed more than $6.8 million – an Elwood record price – for his outgoing family home on Saturday.
The Marshall White deal for 20 Normandy Road breaks the c$6.6m watermark set last month, when chef Teage Ezard offloaded his renovated and extended Federation in the next street.
Both results are expected to be trumped if actress and comedian Jane Turner and her husband John Denton’s historic Tiuna – nearby and also on the suburb’s “golden mile” – sells within its guide ($7.3-$8m).
Mr Valentic paid $3.515m for his outgoing home in January 2008 – what ended up being a tactical time to be in the prestige property market, shortly after the Global Financial Crisis hit Australia’s economy but before a wave of cashed-up expatriates returned to preserve it.
Barb Gregory and Kate Strickland’s weekend resale came in $1.75m over reserve.
“Good real estate and family homes in blue chip locations are weathering the coronavirus crisis,” the professional property buyer, who also develops, posted following the auction.
“The top end of the market continues to be rock solid and there doesn’t seem to be any real buyers’ market at [it].
“We experienced that personally,” the executive added (story continues below).
“We are delighted with the result but there were tears after 13 years of memories, but time to downsize”.
Six local families contested for Mr Valentic’s c1948 fully renovated art deco.
Over two floors it includes six bedrooms and two lounge and dining areas.
A separate structure contains a studio, gym and double garage.
On 1081 square metres – one of the suburb’s biggest holdings – the home includes a heated pool and oversized driveway able to park about eight cars.
Tiuna is on a similar sized (1079sqm) plot, while Mr Ezard’s former home, 10 Byrne Avenue, spreads an 830sqm parcel.
All are on tree-lined streets in Elwood’s revered Seaside Estate.
Four weeks ago, Asher Keddie, who starred in respected ABC series Love My Way, and husband, Vincent Fantauzzo, sold a renovated four bedroom home at 57 Milton Street in the suburb – five months after it hit the market.