Cryptocurrency wealth in Sydney's eastern suburbs property remains alive and kicking, with prominent traders having recently lost a lot of money on homes.
Bryn Solomon, the founder of Cayman Islands-based crypto trading platform Mgnr.io, just spent $6,895,000 on Tamarama.
His first house was purchased without a registered mortgage.
The modernized 1920s house designed by Chapman Architecture was listed late last year with an auction guide of $6.8-7.2 million.
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It was purchased from Eleanor Cheetham Gammell of Small Giants Academy, who paid $7.5 million in June 2021.
Inside Solomon's new Tamarama home.
She and her husband, Dan Gammell, chief investment officer at First Light Capital, keep their converted Surry Hills warehouse that was bought from artist Colin Lanceley and his widow, Kay, for $5 million in 2015.
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Tamarama St House, 465m², has been extended behind its original Victorian facade. It has four bedrooms and two bathrooms.
It was marketed as a luxurious contemporary beach house by Alexander Phillips and David Tyrell of PPD.
Solomon, the 35-year-old Adelaide-born crypto investor, had previously been a derivatives trader in Hong Kong and Chicago.
Brian Solomon. Source: LinkedIn
His Linkedin shows that he recently left Mgnr, a quantitative cryptocurrency asset manager with weapons in market making, discretionary trading, DeFi yield farming and venture capital, for private trading. based in Singapore.
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Staying in Tamarama and with crypto, Finder.com.au founder and crypto investor Fred Schebesta recently sold his redundant apartment for $4,725,000 to literary agent Gaby Naher. The Wonderland Avenue penthouse with pool traded at $3.9 million in 2017.
It's been an incredible decade of Australian property price growth, but some suburbs have performed better than others.
Schebesta's stated goal was to increase his bitcoin investment and live in his $16.85 million seaside castle in South Coogee.
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Crypto trader Fred Schebesta. Photo: The Australian.
The seaside "castle" of South Coogee.
Naher, who has more than 30 years of experience in the book industry, runs Left Bank Literary, whose clients include Stella Award-winning author Heather Rose.
She served as a patrol captain at the Bronte Surf Life Saving Club.