A Sydney harbour-front mansion has sold to a Chinese-born businessman for USD 54.3 million dollars, setting a new property record for the city, reports said today.
The eight-bedroom, seven-bathroom house "Altona" in prestigious Point Piper had been on the market for several years, having been bought in 2002 for Aus$28 million by a former publishing executive.
The Australian Financial Review and other media said it was purchased for the record price by Xiuzhen Ding, a Chinese-born businessman who lives in Melbourne.
The home boasts a series of terraces overlooking lawns and the harbour, with a heated pool, private jetty and sauna. The price beats the former Sydney record of Australian dollar 45 million, set in nearby Vaucluse.
But it was short of the national residential property record of Australian dollar 57.5 million paid by Mineral Resources founder Chris Ellison for his waterfront pile in Perth in 2009.
