PHOTO: The multi-level home faces north and has spectacular views. Source: Supplied
Less than two months after the bank sold the abandoned Mosman mansion of failed businessman Michael Gu, another financier has moved to sell Mr Gu’s business associate’s trophy home nearby.
Dream home – 28 Fairfax Rd, Mosman. Source: Supplied
No. 28 Fairfax Rd, Mosman, is owned by Harry Huang, who was chief financial officer and group director of the collapsed property group iProsperity, founded by Mr Gu, who fled Australia in July last year with company debts of about $350 million.
Mr Huang has also disappeared, reportedly leaving Australia with Mr Gu on July 26.
The bank moved in to sell Mr Gu’s home at 10 Superba Pde in November last year, and it sold prior to auction for $12 million – $2 million more than the failed businessman bought it for in 2017, according to CoreLogic records.
The property was mortgaged to Credit Suisse, which has taken possession of the Balmoral slopes home and appointed Tim Foote, of Belle Property Mosman, to sell it with a guide of $9 million.
Mr Foote and colleague Stefon Bertram have now been appointed by one of the mortgagors of Mr Huang’s Fairfax Rd home to sell the property via an expressions of interest campaign.
Mr Foote told the Mosman Daily he had sold the home to Mr Huang in 2017, with CoreLogic records showing he paid $11.4 million for it.
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