Studio Magazines founder Marcello Grand sells Paddington terrace
Architect-turned-magazine publisher Marcello Grand has sold his Victorian Paddington terrace that he attempted to flip late last December when the auction attracted no bids.
The transformed terrace was relisted for auction last month, selling last week at an undisclosed price, but understood to be around $2.38 million.
This time its new listing agent Catherine Dixon at Phillips Pantzer Donnelley offered $2.6 million price guidance.
Grand, who established Studio Magazines in the 1980s, paid $2,215,000 in April two years ago.
He spent months reconfiguring the three levels, and added a bathroom.
The council was advised the costings were $150,000.
Set behind a yellow front door, the Underwood Street home still has three bedrooms.
This article was first published in the Sunday Telegraph.