The Mosman mansion cuts its asking price by $4 million

Just two weeks ago, we announced the sale of a stunning Mosman waterfront mansion with an asking price of $15 million.

Now, less than a fortnight later, the same extremely 80s abode has seen $4 million wiped from its asking price, which currently sits at $11 million.

That’s nearly a third of the vendor’s original request, and it got us wondering…why?

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The views from the open-air terrace don’t get much nicer in Sydney. (Domain)

According to sales agent Geoff Smith of Ray White Basse-Côte-Nord, it’s mainly because of skyrocketing home improvement costs, making buyers think twice about splurging on this undeniable rough diamond.

“After the feedback received, and with the amount of work people want to put into it, with the cost of building and everything else, the feedback has been that it’s more around that money [$11 million]”Smith said.

“The owners want it sold, so the owners just said ‘well, if it’s the return, then let’s reduce the guide’ because they want it sold.”

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Mosman waterfront mansion property real estate Sydney New South Wales
Presenting like a blank canvas, this house is full of potential for new owners. (Domain)

And, considering how much cheaper the house is now ($4 million is more than an average Aussie will earn in his working life), we have to ask ourselves: is 8A McLeod Street now considered a good deal ?

Boasting some of the best views of any residential property in Sydney, it certainly could.

With stunning views of Mosman Bay, the main harbor and even the edges of Sydney’s famous CBD skyline, this home, to say the least, is a feast for the eyes.

Mosman Mansion Sydney real estate market property
The boathouse would be ideal for storage, or could even be converted into a man cave. (Domain)

But, crucially, the abode doesn’t rest on its visual laurels – there are many, many positives from a home of this caliber.

Spread over a prime plot of 657 square meters virtually unheard of in Mosman, the waterfront property also benefits from its own waterfront boathouse, as well as a private jetty and a deep water mooring.

As for the main house, it has four bedrooms, four bathrooms and a garage for three vehicles.

Mosman waterfront mansion property real estate Sydney New South Wales
A private pontoon and deep water mooring – perfect for boating enthusiasts. (Domain)

Currently billed as something of a blank canvas, the unique home would likely need an additional $500,000 to $1 million to spruce it up, hire an interior designer, and fill it with opulent furnishings, fixtures, and fittings.

That being said, there are still many features in the home, including stunning floor-to-ceiling windows in the substantial living room, a generous master suite with a separate walk-in closet and walk-in closet and a games room and home office. .

The sale of 8A McLeod Street is being handled by Ray White Lower North Shore, and if we won the Powerball tonight, we’d pay almost the entire $20 million Premier League prize money into this unique waterfront mansion. .

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