Philanthropic couple relists Manly penthouse with $5m price cut

Peter Hunt and Tania de Jong seek $35m for beachfront unit; Dural mansion Le Palais listed at $41m-$45m

By LineZotpaper AI staff

Published24 October 2026

Read Time2 min

Sources3 outlets

Former investment banker Peter Hunt and his wife Tania de Jong have relisted their whole-floor penthouse opposite Manly Beach with a price guide of $35 million, $5 million below its initial February asking price, as high-end Sydney vendors adjust expectations in a softening market.

The five-bedroom, five-bathroom unit, purchased by Hunt for $12.2 million in 2010, was first listed in February with the same agency at $40 million. Hunt told this masthead the couple is selling because they are spending more time at their property outside Byron Bay. "It's not been an easy decision because I love Manly, and the unit is amazing and will never be replicated," he said.

A sale at or above $35 million would break the Manly suburb record of $34 million set in 2024 when former South Sydney Rabbitohs player Wes Maas and his wife Emma bought a mansion. Anthony Calacoci of Belle Property Northern Beaches is handling the sale.

Separately, a Dural mansion called Le Palais has been listed with a price guide of $41 million to $45 million. Property developer Sid Nassif of Northland Group and his family are understood to be downsizing. The site was purchased for $1.75 million in 2013 and the mansion constructed. Behind a gated entrance, the 11-bedroom, 20-bathroom estate features five commercial kitchens, five hotel-standard bars, a pool terrace with swim-up bar, tennis court, cinema, gym and sporting facilities. Ken Jacobs of Forbes Global Properties said: "We tend to understand property markets through comparison. Occasionally, a property comes along for which there is simply no meaningful comparison. Le Palais is one of those rare properties." Brad Pillinger of Pillinger added: "Le Palais not only is the standout estate of the region but is world-class by every metric used in assessing a landmark property." The Hills District record was reset in July at $16.5 million.

On the Central Coast, former automotive company owner Tony Denny has reduced the price of his Wagstaffe home from $8 million–$8.5 million to $6.95 million. "An 18 per cent price reduction on such a quality and unique property is quite dramatic, however one has to be realistic in these tough market conditions, otherwise you are wasting everyone's time," Denny said. The four-bedroom, four-bathroom residence features a private pontoon jetty and renovated boathouse. Josh Canellis of Wiseberry Peninsula is marketing the property.

Analysis

Why This Matters

The price reductions on prestige listings signal a correction in Sydney's luxury property market, with vendors increasingly meeting buyer expectations after a period of elevated prices.
The outcomes of these sales will set new benchmarks for Manly, the Hills District and the Central Coast, influencing valuations in those areas.
Cash buyers and downsizers with realistic pricing may find opportunities in a market where vendors are more willing to negotiate.

Background

The Manly penthouse was first listed in February 2026 with a $40 million guide. Peter Hunt co-founded investment banking firm Caliburn Partnership and established Mind Medicine Australia with de Jong. The Dural mansion, Le Palais, was built after the site was bought for $1.75 million in 2013. The Hills District house price record was reset in July 2026 at $16.5 million. Tony Denny sold his automotive business AAA Autos in 2014 for $320 million and now focuses on real estate private credit through Central Real Capital.

Key Perspectives

Peter Hunt: Says the sale is driven by spending more time outside Byron Bay. "It's not been an easy decision because I love Manly, and the unit is amazing and will never be replicated." Ken Jacobs: Describes Le Palais as incomparable: "Occasionally, a property comes along for which there is simply no meaningful comparison. Le Palais is one of those rare properties." Brad Pillinger: Says the estate is "world-class by every metric." Tony Denny: Calls the 18% price reduction "quite dramatic" but necessary. "One has to be realistic in these tough market conditions, otherwise you are wasting everyone's time."

What to Watch

Whether the Manly penthouse sells at or above $35 million to break the suburb record set in 2024.
The level of buyer interest in Le Palais given its $41 million–$45 million price guide, which is far above the current Hills District record.
Further price reductions on other prestige listings as more vendors adjust to market conditions.

Sources

Philanthropic couple re-list $40m beachside unit with $5m discount · WAtoday
Philanthropic couple re-list $40m beachside unit with $5m discount · Brisbane Times
Philanthropic couple re-list $40m beachside unit with $5m discount · The Sydney Morning Herald

Checked

12 claims in this story checked against 1 source: 10 supported.

Show each claim

SupportedHunt said, “It's not been an easy decision because I love Manly, and the unit is amazing and will never be replicated.”WA Today - Latest News: ““It’s not been an easy decision because I love Manly, and the unit is amazing and will never be replicated,” he said.”
SupportedJacobs said Le Palais is one of those rare properties for which there is no meaningful comparison.WA Today - Latest News: ““We tend to understand property markets through comparison. Occasionally, a property comes along for which there is simply no meaningful comparison. Le Palais is one of those rare properties,””
SupportedPillinger called Le Palais the standout estate of the region and world-class by every metric used to assess a landmark property.WA Today - Latest News: ““Le Palais not only is the standout estate of the region but is world-class by every metric used in assessing a landmark property.”
SupportedDenny said an 18 per cent price reduction was dramatic and that vendors had to be realistic in tough market conditions.WA Today - Latest News: ““An 18 per cent price reduction on such a quality and unique property is quite dramatic, however one has to be realistic in these tough market conditions, otherwise you are wasting everyone’s time,” Denny told this masthead.”
SupportedThe philanthropic couple relisted their Manly penthouse with a $35 million guide, $5 million below the initial $40 million guide.WA Today - Latest News: “Former investment banker and philanthropist Peter Hunt and his wife Tania de Jong ... have relisted their Manly penthouse with a price guide of $35 million. The five-bedroom, five-bathroom, whole-floor unit ... was first listed in February this year with the same agency and a price guide of $40 million.”
Partly supportedThe relisting comes as high-end Sydney vendors adjust expectations in a softening market.WA Today - Latest News: “Multiple prestige listings have seen a reduction in asking price recently, with vendors prepared to meet the market.”
Partly supportedThe penthouse was first listed in February with an asking price of $40 million.WA Today - Latest News: “was first listed in February this year with the same agency and a price guide of $40 million.”
SupportedA sale at or above $35 million would break Manly’s $34 million suburb record, set in 2024 when Wes Maas and his wife bought a mansion.WA Today - Latest News: “Should a sale achieve the $35 million guide or higher, it would break the Manly suburb record that was set in 2024 when Wes Maas and his wife Emma bought a mansion for $34 million.”
SupportedLe Palais has been listed with a price guide of $41 million to $45 million.WA Today - Latest News: “A Dural mansion called Le Palais set on two hectares with a total of 11 bedrooms, 20 bathrooms and garaging for more than 40 cars, is on the market with a price guide of $41 million to $45 million.”
SupportedSid Nassif and his family are understood to be downsizing.WA Today - Latest News: “Property developer Sid Nassif of Northland Group, his wife Kawkab and his family, are understood to be downsizing.”
SupportedThe Hills District record was reset in July at $16.5 million.WA Today - Latest News: “The house price record for The Hills District was reset in July this year when a six-bedroom, five-bathroom, provincial-style estate in Middle Dural sold for $16.5 million.”
SupportedDenny reduced the Wagstaffe home’s price guide from $8 million–$8.5 million to $6.95 million.WA Today - Latest News: “Denny first listed the four-bedroom, four-bathroom residence in Wagstaffe late last year with a different agency and a price guide of $8 million to $8.5 million. It’s now listed at $6.95 million.”