28 Victoria Rd, Bellevue Hill has sold for $45m to buyers believed to have links to their billionaire neighbours.
The Bellevue Hill home of hardware tsar turned property developer Fedor Czeiger and his wife, Elizabeth, has sold for $45m in a private deal.
The couple had bought the four-bedroom French Riviera-inspired residence on a 1,252sqm block at 28 Victoria Rd for $6.25m in 2012 from the estate of the late Lady Sonia McMahon.
But now a caveat on the title reveals it’s been snapped up by Yi Dong and Moquan Dong, who are believed to have links to the owners of the neighbouring 774sqm property, Xiao Bei Shi, the wife of billionaire property developer Phillip Dong Fang Lee, of 26A Victoria Rd.
The developer and his wife were in the news just last month for clashing with Mid North Coast locals over their plans to carve up a rare 400ha bush block for housing — the locals say it should be national park.
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The buyer is believed to have links to billionaire property developer Phillip Dong Fang Lee.
No 28 Victoria Rd, Bellevue Hill is a 1,252sqm block previously owned by the late Lady Sonia McMahon.
And in 2022, an inquiry investigating The Star Entertainment Group’s suitability to run its Sydney casino was told Mr Lee was a high roller who spent nearly $100m gambling on a prohibited Chinese debt card.
In 2021, the couple had their vast network of Australian assets — including their $40m Point Piper mansion and a range of their investment properties — frozen as the tax office pursued them for more than $272m.
The off-market deal on the Czeiger mansion is understood to have been negotiated last week with no agents involved.
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The property, which has Harbour Bridge views, was bought by Fedor Czeiger and his wife, Elizabeth for $6.25m 13 years ago in 2012.
The sale was an off-market deal negotiated between the neighbours, without agents involved.
Well placed sources say it was a deal done privately between the neighbours.
The Czeiger family reportedly immigrated from Romania to Sydney’s east and built their hardware business from the ground up, with Fedor’s son Steven Czeiger now operating seven Sunlite Mitre 10 stores.
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Another big off-market deal recently was 5 Fitzwilliam Rd, Bellevue Hill, believed to have sold in the early $16m range.
The off-market transaction was just one of several big deals in Sydney’s east in recent weeks, with the McGrath Double Bay duo Luke Hogan and William Manning behind several.
The pair declined to confirm it, but sources say they’ve sold 5 Fitzwilliam Rd, Vaucluse — the home of Bluegum pharmaceuticals CEO Brett Ditchfield and his wife, Debbie — in the early $16m range.
Steven Czeiger at Mitre10 Newtown.
That’s more than three times the $5.21m they bought it for 10 years ago.
Hogan and Manning were also behind the second biggest sale of the year — close to $50m for Kambala Rd, Bellevue Hill home of filmmaker Warwick Ross.
