The Stenmark's join the downsizing Mosman property merry go-round

The Stenmark's join the downsizing Mosman property merry go-round
The Stenmark's join the downsizing Mosman property merry go-round

The Mosman property merry go-round continues into Spring, but downsizing hardly comes cheap.

Susie Stenmark, matriarch of the Stenmark modelling clan, and businessman husband Damien have bought back into the Mosman market, but their downsizing cost $7.5 million.

With four bedrooms and just two bathrooms, it will be a bit of a squeeze if any of the children come back home.

They sold their long-held trophy home the five bedroom, five bathroom Cardross for around $11 million.

They continue the trend of few residents wanting to depart the millionaire's playground.

It was Cardross where they brought up their four children, including Australia's hottest modelling exports Jordan and Zac Stenmark.

They have been at the grand turn of the century home since paying $2.65 million in 1998 when the twins were six.

Raine & Horne Mosman agent Brendan Warner sold the home to the also downsizing former Foxtel chief executive Richard Freudenstein and his wife Jane.

They sold for around $23 million having paid $12.75 million in 2006 when trading up in the suburb. 

The Freudenstein sale was a Mosman record when sold in February, however that's since been topped last month when the Sydney Swans chairman and Moelis investment banker Andrew Pridham and wife Carolyn paid $25 million for Hopetoun.

The Pridham's too live locally at their nearby mansion at Clifton Gardens.

Millionaire philanthropist and RAMS Home Loans founder John Kinghorn and wife Jill also stayed locally with their recent property trades.

They sold their long-held harbourfront mansion for around $12.5 million to downsize to a $10.22 million apartment in the nearby Watermarque building.

The four bedroom unit with swimming pool and boat house was Mosman's first double-digit apartment sale.

The couple had owned the five bedroom Carrington Road home since 1982 when they paid $1.3 million.

Mosman has just gone past a $4 million median house price, according to CoreLogic from its past 200 sales over the last year.

Its busiest year saw 330 sales in 2015 when the median price was $3 million.

This year some 14 house sales have been sold above $10 million in Mosman, just one short of last year's tally with the Spring sales season yet to come.

Last year saw $1 billion in house sales, with this year's spring selling season's 50 plus listings including BetMakers boss Nick Chan's $5 million plus home.

This article was first published in the Saturday Daily Telegraph.

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