Shark Tank's Andrew Banks makes another property splash
Shark Tank judge Andrew Banks and wife Andrea have increased their foothold in the Sydney property market.
They've spent $6,065,000 on the Double Bay home of recruitment king Joel Barbuto, who restored the 1890s Victorian Italianate manor during his short ownership.
It's been promptly leased at $3,500 a week, reflecting a three percent yield.
Barbuto, the managing director of Gough Recruitment, paid $4,425,000 for the Cross Street landmark in 2016 when offered for the first time in 50 years.
The restored living area.
Set on 335 sqm, the two-storey home has three bedrooms, two with balconies, three bathrooms and a landscaped north facing garden.
The home has been bought under a company name, with the directors including Stephen and Patricia Stevens, who recently spent $6.2 million on the Double Bay home of socialite interior designer Nellie Tilley.
The master bedroom.
Andrew and Andrea are now based at Point Piper having spent $21 million on a non-harbourfront home, having sold in Beverly Hills for US$15,995,000.
Earlier this year they were approved for a renovation for the Point Piper property.
It was a return to Point Piper for the couple, who previously called Villa Veneto, the Point Piper waterfront, home for before selling for a reported $52 million in 2010.
Their latest purchase isn't as grand, but is the third most expensive house sale in Double Bay this year.
