Showing posts with label ciel. Show all posts
Showing posts with label ciel. Show all posts

Sunday, July 17, 2011

Ciel Penthouse Loss

Tom Dooley develops expensive apartment complexes. One was Ciel, in New Farm. Completed in 2007, the penthouse sold off the plan for $4.6 million. It was recently re-sold for $3.15 million, a loss of $1.5 million (not including agent's fees and stamp duty and holding costs). That is a huge loss. I bet Tom Dooley made a good profit when he sold it off-the-plan.