This article is from the Australian Property Journal archive
CRYPTOCURRENCY casino founder, 27-year-old Edward ‘Ed’ Craven has staked his claim in Toorak, buying a house that has sat vacant for more than 30 years for an auspicious price of $80,000,088.
Craven, the co-founder of one the world’s largest online crypto betting agencies, Stake.com, bought the house at 29-31 St Georges Road.
This purchase has set a new Victorian benchmark, smashing the previous $52.5 million record set by the sale of Stonington in Malvern.
Buyer’s agent Kim Easterbrook represented Craven and said he plans to knock down the property and build a new home. The 7,187 sqm land is currently improved by a three bedroom two bathroom house.
This is the second major real estate play for Craven this year, it comes after he bought an Orrong Road home in March from developer William Deague for $38.5 million.
Marshall White’s Marcus Chiminello handled the sale on behalf of David Yu. The home last changed hands in 1991 for $5 million.
It has been a busy period for Chiminello, who also handled the sale of 17 St Georges Road for $75 million, significantly above the asking price of $65 million to $70 million.
Blair House was sold by the Nanut family.
