Chinese billionaire Zetian Zhang, aka “Sister Milk Tea” takes $2.7 million loss in the Rocks
Chinese billionaire Zetian Zhang, also known as “Sister Milk Tea”, has taken a $2.7 million loss on her prized three-level 598sq m penthouse atop the Stamford Residences in Gloucester Street, The Rocks.
The leasehold penthouse was reportedly offloaded through Richard Shalhoub, of Sydney Sotheby’s, who had overseen the marketing price adjustment to $15 million late last year.
However despite the January 17 settlement, the listing for 28A/171 Gloucester Street still mysteriously appears as for sale on the agency website.
Standard industry practice is that a property that has sold is then either moved to sold or removed from the listing website within 72 hours, as being kept in the buy section of websites is commonly viewed as a breach of the acceptable industry policy.
The settlement paperwork obtained by Property Observer indicates it sold for $13.5 million to hotelier Ramy Arnaout and his wife Nadia, under a company name.
After purchasing it for $16.2 million in April 2015, Zetian, the wife of e-commerce billionaire Richard Liu, initially put the penthouse on the market with an $18 million price tag in mid-2017.
