Are you sitting down? You should probably sit down before you read this, especially if you’re working really hard to squeeze your way into the somewhat fixed property game.
27-year-old “Jim” Shangjin Lin is the director of property development firm Aqualand and the proud new owner of the $52 million 1920’s-era Altona mansion in Point Piper.
Recently graduating from Macquarie University, Jim settled on the extravagant views of the harbour bridge after about six months of house… or, uh, mansion-hunting and expects to move in with his wife and newborn baby once the current tenants vamoose, Domain reports.
The house has also hosted the likes of Brad Pitt, Angelina Jolie, Katy Perry, Beyoncé and Jay Z and Stevie Nicks. Maybe Jim just wants to feel like a star.
No stranger to dropping cash in millions, in 2011 Jim purchased a 40-hectare property in the Southern Highlands for a whopping $7.15 million.
And once the property has settled, it could land second place on Sydney’s record sales list, with first place belonging to the sale of James and Erica Packers mansion to Chinese billionaire Chau Chak Wing for $70 million.
We get that having money is cool and all, but who needs a six bedroom house for three people? The baby will take up half a room at best, at least until it’s old enough to acquire a lot of stuff.
The sensible team here at The Hip Pocket agree that we would much rather use the money to buy fifty individual houses, or take a ride into space for a few days.
Property Images: Domain