Luna Park boss splashes about $36 million on Crown apartment

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The new co-owner of Sydney’s Luna Park, Bill Gravanis, won’t have to travel far to work, having spent about $36 million on an apartment at Barangaroo’s Crown Residences.

Gravanis and his brother, Mario, founded Oscars Group, a portfolio of hospitality venues, in 1986, and emerged as the new owners of Luna Park in December 2024, having paid an undisclosed sum to global investment firm Brookfield. The theme park hit the market in June of that year with $70 million expectations.

The listing for the four-bedroom, four-bathroom Crown apartment was removed from the website of The Agency’s co-founder Steven Chen this week, suggesting a sale, but when contacted by this masthead Chen declined to comment.

Chen listed the abode alongside Colliers’ Luke Hayes, and is behind Crown sales including a $50 million-plus, whole-floor apartment.

Local sources not authorised to comment publicly, revealed a sale of about $36 million.

It was left to local sources, not authorised to comment publicly, to reveal a sale of about $36 million. While the exact sale price is yet to be disclosed, a caveat lodged on the title shows the buyer is Gravanis.

Gravanis bought the 420-square-metre residence from Tony Tartak, the founder of waste removal giant Bingo Industries, and his wife, Mary. Records show two lots were purchased off the plan, under Mary’s name, for a combined $40 million in 2021, and the couple sold the other half of their whole floor on level 50 for $35.5 million.

Keeping them as two separate homes turned out to be not a bad investment, with about a $30 million profit in total, once the latest deal has settled.

Gravanis will be neighbours with a smorgasbord of corporate heavyweights, rich-listers and millennial tech entrepreneurs, and will have access to the residents’ tennis court, pool, spa and cabanas. His new home is one of eight half-floor apartments in the building that has had a redesign by architect Rob Mills.

There are two entrances, a main entrance and a service entrance that leads directly into the butler’s pantry, formal and casual living zones, a cloak room and wine cellar.

Interiors feature fine marble, oak floors in geometric designs, plush carpet, reflective surfaces and Crown’s signature sculpted Corian bathtubs.

Internationally sourced fixtures include a gold light fitting above the dining table that costs around $40,000, while the walk-in-wardrobe in the main bedroom has drawers lined with alligator skin.

However, the creme de la creme is the views stretching from Darling Harbour to the Harbour Bridge, north shore and Opera House.

Former Foxtel boss offloads home

Richard Freudenstein, former chief executive of Foxtel, and his wife, Jane, a director of The Australian Ballet and Sydney Children’s Hospital Network board member, have sold their Mosman mansion for a figure around the $18 million price guide, local sources have revealed.

Richard Freudenstein, the former chief executive of Foxtel, and his wife Jane, have sold their Mosman mansion for a figure around the $18 million price guide, local sources have revealed.

Richard was the chief executive of Foxtel from 2011 to 2016 and is now a non-executive director of Coles, Cochlear Limited, REA Group and Cricket Australia.

The Freudensteins purchased the five-bedroom, five-bathroom home with pool for $10.25 million in 2018 from marketing industry boss Damien Stenmark and his wife, Susie, a former model.

A sold sticker on the listing indicated a sale by private treaty on February 27 with the sale price undisclosed. Listing agents Geoff Smith and Geoff Allan of Ray White Lower North Shore Group declined to comment on any aspect of the sale when contacted by this masthead. The exact sale price and buyer’s identity will be revealed at settlement.

The Freudensteins purchased the five-bedroom, five-bathroom home with pool for $10.25 million in 2018 from marketing industry boss Damien Stenmark and his wife, Susie, a former model, and parents to celebrity models Jordan and Zac.

Richard and Jane renovated the property, updating the kitchen and making cosmetic tweaks. Imported pendant lights, patterned wallpaper, marble-framed fireplaces and French doors adorn the space.

Entertainment zones include limestone terraces, a mosaic-tiled pool, poolside kitchenette and wine cellar.

Popular foodie to cook up a deal

Caterer Simmone Logue, known for her gourmet quiches, pies and sausage rolls stocked in Woolies and Harris Farm, and her property industry veteran husband Ray Sproats, have put their Palm Beach home on the market with a price guide of $14 million.

Caterer Simmone Logue and her property industry veteran husband Ray Sproats, have put their Palm Beach home on the market.

Sproats founded Fortius Funds Management and is no longer an executive director, with Growthpoint having acquired the private real estate funds management business in 2022.

Records show Sproats bought the existing property on the site for $331,000 in 1986 from Merle Jaeckel, kept the structure but renovated the interiors.