131-135 Monaco Street, Broadbeach Waters, sold for $8.5 million.
Two Gold Coast mansions have racked up a total of $17.2 million in the past 48 hours for one local estate agency.
The first sale was for $8.5 million for 131-135 Monaco Street, Broadbeach Waters, which is owned by Gold Coast business identity Jonathan Grasso.
Mr Grasso, the founding director of Belvue Property Group, bought the 2,303 sqm five-bedroom home, with his wife Roberta, in 2015 for $3.14 million.
131-135 Monaco Street, Broadbeach Waters, was owned by Gold Coast businessman Jonathan Grasso and his wife Roberta.
It was sold to a local couple through agent Michael Kollosche of Kollosche Real Estate.
But things didn’t stop there.
In Surfers Paradise, Mr Kollosche and fellow agents Ryan Ward and Duncan Longmore followed up with an off-market deal for 87 Admiralty Drive for $8.7 million.
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Records show the property was last sold in December 2019 for $7.5 million to Ann Knipe.
Once again it was a local buyer who stumped up for the five-bedroom executive home covering 904 sqm in the exclusive enclave of Paradise Waters.
Mr Kollosche said the appetite for prestige properties in the $5 million to $12 million price bracket was far outstripping the available stock.
87 Admiralty Drive in 2019. It was sold this week for $8.7 million.
“The demand from locals and interstate is strong, along with good inquiry from expats looking to return to a beachside location,” he said.
“Stock levels between $5 million and $12 million are extremely tight so prices remain really strong.”
Gold Coast agent Michael Kollosche sold 131-135 Monaco Street, Broadbeach Waters for $8.5 million.
Despite the Monaco Street sale netting the Grasso’s more than a $5 million profit in five years, the sale came in just a smidgen below the listed price of $8.95 million but was far lower than the $9.95 million the Grassos listed the mansion for in 2017.
The couple took it off the market after 315 days before relisting it again in November 2019 at the reduced price.
