WhatsNew2Day – Latest News And Breaking Headlines
<!–
<!–
<!– <!–
<!–
<!–
<!–
A dilapidated and broken-down property overlooking one of the world’s most iconic beaches has fetched millions of dollars more than the seller predicted at auction.
The four-bedroom penthouse located on the 5/17 Wilga Street in Bondi Beach sold for $7.1 million on Saturday as overcast skies and rain drowned out the view.
Auctioneers settled on the final bid that exceeded its reserve price by $3.1 million.
It was the first time the estate had come on the market in more than 30 years and retained its original interiors, including large cracks in the balcony concrete, peeling plaster and evidence of rising damp on some walls.
The property’s carpets were destroyed and the walls were damaged, but the unobstructed panoramic views of Bondi Beach were still stunning.
The four-bedroom penthouse at 5/17 Wilga Street in Bondi Beach was purchased for $3.1 million from its reserve at an auction on Saturday morning.
The property had not been listed for sale in over 30 years and still featured its original interiors, which had become dilapidated and worn.
An opening bid of $4 million was announced by Cooley auctioneer Jake Moore raised seven of 15 registered bidders in increments of $200,000, $100,000 and $50,000 at a time.
A final raise of $100,000 saw an online bidder close the sale on the apartment, which Mr Moore called “simply incredible”.
‘To sell a run-down apartment like that was just incredible,” he said. real estate.com.
“As an auctioneer, there are some situations where you don’t need to push too hard and this was one of them… people just wanted it.
“There is work to be done, a complete renovation. The buyer was literally paying for the location and that view.
The buyer reportedly bought the property so his adult children could live there, but it still requires a lot of work to make it habitable again.
Clear views of Bondi Beach are visible from a cracked balcony with unsightly stains
The modest bathroom is a snapshot of the 1970s era during which the building was constructed.
Raine & Horne Double Bay sales manager Ric Serrao said he had never seen something so dilapidated sell for such a high price before.
Mr Serrao admitted it was difficult to price properties with views, but he knew it would work well when more than 320 people inquired about it.
The building is a five-unit “boutique building” that was built in 1972, with Apartment 5 soon to undergo a million-dollar renovation..
Uneven yellow carpets remain throughout the property under several low chandeliers
Peeling plaster and mold were seen on walls around the four-bedroom home which will soon undergo a million-dollar renovation.