A substantial David Street home has changed hands for approximately $17.3 million, marking the highest sale in Mosman so far this year.
The vendors, Richard and Jane Freudenstein, accepted an offer ahead of the scheduled 12 March auction. Richard Freudenstein previously served as chief executive of Foxtel and currently holds a director position at REA Group, the company behind realestate.com.au.
The property, situated on 1,150 square metres of land at 28 David Street, had been marketed with an $18 million auction guide. However, after gauging market interest, the couple opted to proceed with a strong pre-auction offer.
Listing agent Geoff Smith from Ray White Lower North Group declined to confirm the sale price or specific details, citing industry protocol. He did note that current market conditions are characterised by price sensitivity and stability, adding that all properties on his books are attracting buyer interest.
“There are definitely buyers out there. The market is stable, not going up nor going down,” Smith said.
Michael Coombs of Atlas observed that many purchasers are proceeding with caution, requiring vendors to adjust their price expectations, though transactions are beginning to materialise.
“That’s understandable given global uncertainty, interest rates and talks of tax changes. However, we’re now seeing over caution holding buyers back and history shows that hesitation in a stable market often costs more than it saves,” Coombs explained.
He indicated that several properties in the $20 million to $30 million range have received offers, with open house enquiry numbers up 40 per cent.
Mosman buyers’ agent Peter Kelaher suggested the market has lost some urgency, noting a likely dip in values towards the end of 2025 before stabilising. He pointed to numerous properties listed above $20 million in the suburb.
“And talk of Capital Gains Tax and negative gearing changes, the RBA talking about hiking up interest rates and geopolitical challenges, it’s a perfect storm,” Kelaher said.
He added that premium properties continue to appreciate in value, while mid-tier properties are holding steady and lower-grade stock is experiencing price pressure.
Published 5-March-2026
