PHOTO: 10 Pacific Avenue
The hot hush-hush news in Tamarama is the sale of McGrath non executive director Shane Smollen’s $16.8m mansion, and Guzman y Gomez co-founder Steven Marks buying nearby for $14m.
Buyer’s agent Frank Russo has announced on Instagram that he’s secured a home “directly across the road from Tamarama Beach” off-market for repeat clients.
It wasn’t too difficult to establish that it was the six-bedroom, five-bathroom home with eight-car garage at 10 Pacific Avenue that Smollen had purchased for $6.45m in 2011, via Simon Exleton of McGrath.
It already had its lap pool, but it’s since had a dramatic architectural renovation.
Russo wasn’t commenting on the identity of his client beyond saying it was a young local family, nor the price (though that was confirmed by separate sources).
Exleton and colleague Chris Volpatti were known to have been showing groups through the home before Russo introduced the buyer.
McGrath announced Smollen’s appointment in September last year alongside news of a significant turnaround in the company’s fortunes.
Smollen has been a leading property professional since 1983, having owned one of the country’s leading real estate networks before selling it to McGrath in 2015.