Elias Jreissati's HMAS Port Melbourne penthouse sold for $16 million

Elias Jreissati's HMAS Port Melbourne penthouse sold for $16 million
Elias Jreissati's HMAS Port Melbourne penthouse sold for $16 million

Property developer Elias Jreissati has offloaded his HMAS Port Melbourne penthouse for $16 million after more than four years on the market.

The five-bedroom sky home came with initial $18 million hopes. Jreissati paid $3.75 million for the HMAS apartment in 2003.

“These are trophy assets that are almost impossible to put a price on,” Mr Jreissati told Domain.

“It’s a fair price, and it’s commensurate of the uniqueness of the property. If we weren’t happy, we wouldn’t have sold it.”

Title Tattle gathers it sold to Running Fang, a Melbourne resident who obtained Foreign Investment Review Board approval for the purchase through RT Edgar agent Gerald Betts.

He is connected with a powerful northern Chinese provincial development company, Running Investment Group which recently acquired a nine-level office tower at 509 St Kilda Road from John Beville.

The bespoke foreshore penthouse at Port Melbourne was 1,040 square metres over three levels - 18, 19 and 20 - atop the HMAS Lonsdale building (pictured below).


Designed by architect Nonda Katsalidis, the Rouse Street property comes with five bedrooms and five bathrooms, plus a kitchen on each level.

191/85 Rouse Street has bay and city skyline views, perhaps the city's ultimate entertainer's residence with five balconies and two large landscaped rooftop areas 400 square metres in size.

The penthouse includes five bedrooms, seven bathrooms, two kitchens, an internal lift between the three levels, a two-storey 100-square-metre living room, an executive wing, a 1,800-bottle wine cellar and seven carparks.

Jreissati and his wife Colleen live on level 82 of the Eureka Tower in Southbank, close to his Collins Street office and the Yarra River helipad for commuting to their Yarra Valley estate.

The sale follows the $15 million Spring Street sale by the former Skilled Group boss Greg Hargrave to the former owner of Inflation night club Fab Ippoliti.

The 11th floor apartment at 150 Clarendon, East Melbourne encompassing more than 1,400 square metres of space, has been listed for sale at $46 million.

Port Melbourne Elias Jreissati

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