Infamous Tamarama unit block seeking $20m sale
A Tamarama unit block at the centre of a bitter dispute over skyrocketing rents and hazardous living areas has hit the market.
Pacific View, a Tamarama apartment block that became the centre of a recent rental increase dispute, has been listed for sale.
Property investor Denis Sinilov, who runs commercial fit-out business Metric Interiors, is seeking $20m.
The 1960s Carlisle St complex was bought in 2021 for $15m by his Infinity 10 Pty Ltd company.
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The 1960s Carlisle St complex is set for a March 21 auction,
Mr Sinilov had secured plans to knock down the ageing block of nine apartments and replace it with a boutique four-apartment complex.
The 620sq m corner holding is set for a March 21 auction through David Malouf and William Manning, of Highland Property.
The building hit the headlines in April last year when one tenant complained that the rent for his two-bedroom apartment was set to jump from $670 a week to $1100. Another occupant faced a hike from $630 to $1100 before they challenged the increases at the NSW Civil and Administrative Tribunal.
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Property investor Denis Sinilov.
Tenants appealed against the steep rent increases that were not in line with market movements, also taking into account condition of the property.
They told of black mould, windows leaking, kitchen cabinets falling apart, flaking paint, along with issues with the hot- water system.
Given the deteriorating conditions, the previous landlord had not sought to raise rents in years. Under new ownership, all nine tenants were hit with rent hikes of up to 70 per cent.
The 40-year-old Russian-born Mr Sinilov had Cohen Farquharson – headed by Luxe Listings cast member Simon Cohen – as his building property manager.
The most aggrieved tenant agreed on a new weekly amount of $820, an increase of 22 per cent, accompanied by an agreement for a series of repairs.
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