Melbourne's luxury property market has opened the year with a bang following the $16 million sale of a Toorak mansion belonging to one of the city's most prominent families.
Property developer Gabor Hubay and wife Roni, a member of the wealthy Kornhauser family, have sold their sprawling estate on Macquarie Road just two months after putting it on the market for $15 million.
The deal marks the fastest sale for the prestige market in two years, which has been plagued by a lack of buyer interest despite more than half a dozen of the city's finest homes on offer for $15 million or more. Many of these properties, including two $30 million mansions holding prime spots on Toorak's Towers Road, have been available for more than a year.
It's also the second highest price achieved in the city since the property slump began in 2010, topped only by the $16.5 million sale of investment manager Ron Dewhurst's Toorak estate in October last year.
Kay & Burton confirmed the Macquarie Road home had sold but director Michael Gibson declined to comment on the price. The identity of the buyer is unknown.
Mr Hubay, an architect, designed and built the 2100-square-metre property, which has five bedrooms, seven bathrooms, theatre, gym, tennis court, infinity pool and a seven-car basement garage.
Mr and Mrs Hubay are shareholders in several high-value commercial developments around the city, including a Collins Street office tower and shopping centre in the CBD, bought for $50 million more than a decade ago.