Saatchis of street art list 1888 Biltmore, Albert Park penthouse
The penthouse in the landmark 1888 Biltmore, Albert Park building has been listed for sale by so-called Saatchi's of street art.
It has been listed by the edgy art collectors Sandra Powell and Andrew King.
It last sold at around $2.85 million in 2005 from the de Campo family who undertook the building's conversion from hotel premises.
It has majestic verandah archways and its interiors have 16 foot ceilings designed by architect Walter S. Law, who also designed Drummond Terrace and Medley Hall, Carlton.
One of the original streets of the 1855 Emerald Hill town plan, Bridport Street had developed slowly from the 1860s accompanied by the construction of the new railway cutting in 1857, but with a fillip with the new cable tram route in 1890.
The 40-room building was built in the free classical style as the Albert Park Coffee Palace, one of dozens of coffee palaces, part of the temperance movement, alcohol-free alternative to the public house.
The imposing four storey building with arcaded loggias became a private hotel in 1928. In the 1950s it was sold to the Royal Melbourne Hospital and used as a nurses' home, before reverting back to a private hotel in the mid-1960s.
It was refurbished and subdivided into 12 apartments in the mid-1990s.
It has majestic verandah archways and its interiors have 16 foot ceilings.
The four bedroom, three bathroom apartment comes with pool, spa and two basement carparks.
Cayzer Real Estate Albert Park agents Geoff Cayser and Michael Szulc have the listing.
Title Tattle recalls the historic block's previous highest sale was in 2009 when a renovated low whole floor apartment was sold for around $2.5 million through Marshall White.
Innes Wilox of the Australian Industry group was its buyer.
The building's last offering highlighted its popularity as the apartment had $935,000 expectations but sold at 2010 auction for $1,276,000. It was a 120 square metre three bedroom apartment.
