Bronte Beachfront Home Sells for $25 Million After Year on the Market

A Bronte beachfront home, initially listed for over $30 million, has sold for around $25 million after spending a year on the market.



Sale and Background

The luxury property, owned by commercial property developer Andrew Podgornik and his wife Chloe, was sold after being listed for more than $30 million in late 2022. The couple purchased the site for $7.55 million in 2008 and commissioned a pavilion-style home designed by Neeson Murcutt Architects, which was completed in 2017. 

The house, located on Gardyne Street, Bronte, won the Australian Institute of Architects NSW Residential Architecture Award in 2018 and national recognition for its landscape design by 360 Degree Landscape.

Despite the earlier price hopes, a well-placed source indicated that the sale was finalised at approximately $25 million. The sale was facilitated by agents Alexander Phillips from PPD and Brad Pillinger of Pillinger.

40 Gardyne St Bronte
Photo Credit: realestate.com.au

Local Buyer and Design

The new owner, Nadia Jacob, is a well-known interior designer and property developer with a history of buying and flipping properties in Sydney’s eastern suburbs. Jacob, who recently sold her Bondi Beach home for around $9 million, has been active in the real estate market for over 20 years, focusing on beachside homes in Bronte and Tamarama. 

The Bronte home is widely admired for its unique design, which blends concrete, timber, and stone materials and incorporates large timber doors and windows that open to expansive ocean views. It sits on a rare 1156-square-metre block, with a garden that includes a swimming pool and an inbuilt trampoline for children.

40 Gardyne St Bronte
Photo Credit: realestate.com.au

Market and Price Adjustments

The sale of the Bronte beachfront home comes after the property was on the market for a year. Despite earlier expectations of securing a higher price, the final deal reflects a softening in the ultra-luxury property market.

Real estate insiders believe the extended time on the market contributed to the eventual price drop. Bronte’s record sale of nearly $30 million earlier in 2023 further underscores the high demand for properties in the area, though the Podgorniks’ sale fell slightly short of breaking that record.

The sale highlights Bronte’s continued desirability as a residential hub for high-net-worth individuals. Local property experts note that while demand for beachfront properties remains strong, fluctuating market conditions and rising interest rates may have impacted the final sale price. 



Nonetheless, the transaction solidifies Bronte’s standing as one of Sydney’s most sought-after coastal communities for luxury homes, offering both natural beauty and architectural distinction.

Published 8-Oct-2024