Bellevue Hill's Chateau de Benelong fails to sell

Chateau de Benelong, the distinctive Bellevue Hill palazzo residence, didn't sell when auctioned last night through agents Michael Finger and Diane Wilson of Ray White Double Bay. 

Over $5 million was being advised to potential buyers initially, and it was passed in at $6.2 million.

Title Tattle spotted just the two Australian/Asian bidders at the auction where bidding began at $5.5 million.

Chateau de Benelong, the private palazzo commands sweeping northerly harbour views from its grand columned terraces.

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With its multiple arches, columns, balustrades and detailed decorative exterior adornments including cherubs, lions' heads and a central courtyard fountain, the seven bedroom house has stood out from the crowd since 1977, when it was built by designer Lesley Santy.

Santy, who won a gold medal in the 1957 international furniture exhibition in Milan, designed the building for the Levy family.

It last sold at early 2012 auction at $4,995,000 sale through Michael Finger.  It was initially listed with unrealistic $7.5 million hopes in late 2011.

The Benelong Crescent property had been renovated after trading for $3.67 million in 2009.

It comes with eight bedrooms, including a two-bedroom apartment.

The vendors Lynda Giang-Nguyen and Nhi Nguyen bought it in early 2012 from Nare Elio and Makedonka Del Ben, who run a building company called Big Dig Pty Ltd.