Casino boss loses $4m on waterfront Sunshine Coast home
A GAMBLE on a six-star dream home failed to play out as a former casino executive envisioned, forcing him to accept a $4m price cut.
Joe Guiseppe, who was an executive with Monte Carlo's second biggest casino before he retired to his favourite holiday destination - Noosa - had developed a massive 2,611sq m waterfront site for his forever home.
He threw in everything he'd seen highrollers become accustomed in Monte Carlo including soaring 3m high ceilings, a gourmet main kitchen plus a waterside kitchen, a massage treatment room with jacuzzi, a Hammam steam room with shower, a fully equipped gym, home cinema with bar, a gas heated Roman pool plus a 19m lap pool, a full size floodlit tennis court and a large boat jetty.
But when illness struck he was forced to try and cash out of the property - which was when he hit a decade long hurdle.
According to CoreLogic records, he had initially put the property on the market for a whopping $8.8m in 2006, then dropped the price to $7.3m between 2006 to 2009, before moving to $5.8m in 2011. He then tried putting it up for auction in 2013 and when that did not work, he had it sit on the market looking for offers over $4.7m.
The home sold for $4.75m on February 10 according to realestate.com.au.
