A palatial waterfront mansion in East Gosford sold for a record price after being listed on and off the market for nine years.
A foreign buyer paid $4.05 million for 41 Caroline St, making it the highest recorded sale price for the prestige area.
The luxury five-bedroom home is believed to have passed through the hands of at least 13 different agents in about nine years, based on information obtained from Core Logic RP Data.
Selling agent Madeline D’Anastasi, of Boutique Real Estate Central Coast, said the grand proportions of the prestige residence limited the number of genuine buyers.
She said a Vaucluse couple came close to buying the 2074sq m property a few years ago, but in the end, the buyer came from overseas after seeing a marketing clip on television.
Ms D’Anastasi believes the sale will help boost the area’s prestige waterfront market.
According to Core Logic records, the impressive waterfront abode was first listed at the end of 2005 for offers over $5 million. Almost a decade later, at the time the property sold, the vendors were asking for offers above $4 million.