Article featured in WWC on realestate.com.au by Stephen Nicholls, Property Journalist.
Art dealer Steve Nasteski sells amalgamated Double Bay Art Deco flats for $14m
Last June, art dealer Steve Nasteski snapped up two adjoining Art Deco flats on Double Bay beach for $7.9m. The amalgamated residence has now sold for an unbelievable price.
On the morning of the first open home on Saturday, the three-bedroom, three-bathroom, ground floor 145sqm residence with four-car parking at 1/24 Stafford St has exchanged for close to $14m.
That equates to a whopping $96,000 per sqm — the second highest price per sqm ever in Double Bay.
The sales agent, Ben Collier of The Agency, had only listed the property two days ago with a $13m guide but sources advise it was the Double Bay agent who sold Nasteski the property, Josh Allen of JT Allen, who’d introduced the buyer.
When contacted this morning, Allen refused to discuss the sale price or the purchaser.
But it’s not hard to see why the beachfront residence with a prized northern aspect won over a buyer so quickly.
The slick Italian marble kitchen and bathrooms, automated pop-up TV cleverly concealed in the living room floor, Siberian Oak chevron floors and beachside position would be enough to win over any discerning cashed-up buyer.
The proximity to Double Bay village — walking distance and flat — is also part of the appeal.
Nasteski, who is based in Byron Bay and had put the Double Bay property in his EY strategy consultant son Marcus Ace-Nasteski’s name, is becoming famous for flipping properties in the east and making huge profits.
In 2020, he sold a Darling Point apartment for $13.3m that he’d bought for $7.5m a year earlier.
But the high rate per sqm in Double Bay will no doubt be the source of much chatter in property circles this morning.
It was Josh Allen who’d achieved the current record per sqm in Double Bay, $108,000 per sqm, when a downsizer bought a $16m penthouse in William St last March.
Allen’s vendors on the Double Bay beachfront last June had been the founders of the Doctor Juice outlets, Gary Pogson and Brad Johnson.
They’d bought the two unrenovated flats 21 years ago for $740,000 and $760,000.
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