The median rental price in New York City’s most expensive borough dropped 2.8% to $3,300 in March from the same time a year ago. This is the first annual decline in 24 months, according to the latest report by real estate appraisal firm Miller Samuel for Douglas Elliman Real Estate.
He’s used to winning out on the track, so it’ll be a familiar feeling of celebration for high-profile racehorse owner Greg Kolivos, who has secured close to $9 million for his palatial Warrawee trophy home.
Kolivos and his wife Donna are the owners of champion colt Pierro, who won the 2012 Golden Slipper and amassed more than $4 million in prize money during its career and was sold to a breeding conglomerate for a rumoured $30 million in 2013.
The Kolivos’ listed their sprawling estate at 21-23 Warrawee Ave in October last year with $10 million hopes, however, the price guide was later adjusted to $9 million.
Agent Chana Scotcher, of Chana Scotcher Realty, who sold the home in conjunction with Darren Curtis from Christies’ International, would not comment on the property’s sale price, however, it is said to have sold for close to the $9 million asking price to local buyers from Chatswood who have a son at nearby Knox School.
Scotcher notes that the sale is a further indication that the north shore market is continuing to perform well, with interest coming from locals, internationals and expats for the home.
The luxury, Georgian style six-bedroom house sits on an impressive 3776sqm block that includes Peter Fudge-designed gardens, a heated pool and championship tennis court.
Inside it includes all of the usual high-end appointments, such as a lavish billiards room, entertainer’s pavilion, palatial main suite, gym, five-car garage and a state-of-the-art home smart system.
The Kolivos’ bought the property in 2007 from medico Tom Wong and his wife Deborah for $6.6 million and have carried out extensive renovations since.
After their own son finished up at Knox School, the family made the decision to spend more time at their acreage in Dural to be closer to their horses.
The sale has smashed the previous $6.6 million record for the prestigious street, set by the Kolivos’ home, but is shy of the suburb record of $11.5 million set just around the corner at Chilton Parade in 2010.