Vendors await deposits from Toorak mansion buyers in $36 million spree

Vendors await deposits from Toorak mansion buyers in $36 million spree
Vendors await deposits from Toorak mansion buyers in $36 million spree

The buyer of a Toorak mansion for $19.1 million – at $5 million over the quoted price range – has been slow to hand over the deposit after its recent private auction.

The price of 2 Myvore Court two weeks ago threw pricing in the top end of the upmarket Melbourne suburb into exaltation - and now confusion.

But agents are adamant the sales are intact.

The Australian Financial Review pinpointed the buyer as Orna Ida, the wife of expatriate businessman Yoav Ida.

Her lawyer Jonathan Kenny, who bid for Ms Ida at the May 30 auction, said he had indications the deposit was coming.

"My instructions are that they're on the way.

"As far as I know, not [yet received]," Mr Kenny told The Australian Financial Review on Tuesday.

Toorak had a median house price just above $4.2 million in February, CoreLogic figures show.

"Toorak's alive with the sale, but it's not a sale yet because the deposit hasn't been paid," buyers' agent David Morrell said.

"It's nuked the market. Every vendor in Toorak now thinks his house is worth $4 million or $5 million more than the reserve."

"It is a Melbourne Game Changer," buyers advocate Mal James said of the sale in an article he published online and then subsequently withdrew when word swept around the market.

The mansion developer Chris Holland recently completed at 2 Mysore Court.

There has been another Toorak purchase by the Ida family in limbo too.

Kenny also helped other members of the family buy 3 Myvore Court – which sold two days after 2 Myvore Court for reportedly more than $8 million.

Kenny said Ms Ida, a citizen of both Australia and Israel, was not currently in Australia.

Real estate agent Jock Langley of Abercromby's, who marketed 2 Myvore Court, declined to discuss the sale with the AFR.

"The property's sold," Mr Langley said. "I'm not prepared to have any discussion with you in relation to any part of the sale. We're not at liberty to discuss it."

Kay & Burton agent Andrew Sahhar, who handled the $8 million plus sale of 3 Mysore Court, also declined to comment.

There has been unconfirmed reports of an unpaid deposit for a $9 million plus Woorigoleen Road sale through Marshall White.

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Toorak

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