Geoffrey Edelsten's Palazzo Versace apartment relisted

Geoffrey Edelsten's Palazzo Versace apartment relisted
Jonathan ChancellorDecember 7, 2020

The onetime Main Beach, Gold Coast apartment of the former entrepreneurial medico Geoffrey Edelsten has been relisted for sale.

It appeared on realestate.com.au as forthcoming auction.

It was the opulent Palazzo Versace apartment bought for his then wife, Brynne, though this time it has been listed via a new company holding following an April 2014 transfer from Norman South Pty Ltd to Selfside Pty Ltd, a company directed by Edelsten's tax accountant.

The Gold Coast apartment was bought in late 2011 before its $1.5 million refurbishment.

It has been relisted through Lucy Cole of Lucy Cole Prestige.

"It's not mine, I have nothing to do with it," Geoffrey Edelsten told the Daily Mail after the Property Observer article publication.

"At one stage I headed a company that was a trustee [of the property] but it was replaced a-year-and-a-half ago and I have nothing to do with it," he said.

The two-level property, which overlooks the Broadwater, comes with a large rooftop garden with spa.

It comes with genuine Versace furniture imported from Milan comprising the finest leathers and brocades, exclusive Italian bed linen and tableware - able to be secured through separate negotiation - excepting the exquisite lighting including a massive crystal chandelier which stays.

"Costing over $1.5 million dollars, the refurbishment has created a splendid and unique living environment at the Gold Coast's most exclusive address," the initial Lucy Cole markting advised.

The photos are being used in the current marketing campaign as appeared in the initial marketing.

Art sculptures in the garden were flown in by helicopter. It comes with marina berth.

Its initial 2014 listing coincided with his US financial troubles that stem from a fallout with business partners who are fighting him for control of the House of Nurielle fashion label, an executive jet, a casino in the Dominican Republic and two slum rental housing complexes in Memphis, Tennessee and Dayton, Ohio.

In January Geoffrey Edelsten listed the apartment but was halted from auctioning his apartment.

A US bankruptcy judge Lawrence Walter ordered the auction's abandonment after an eleventh hour legal application motion by Edelsten's former US business partners, the Mawardi family of the Vegas fashion label, Nurielle.

The article was updated to advise of the March 22 auction scheduling, the Selfside Pty Ltd acquisition and Dr Edelsten's commentary.

 

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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