Millennial Crypto Mogul Ed Craven’s Astonishing $88 Million Mediterranean Mansion

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Ed Craven, the savvy millennial businessman, has broken a real estate record with his acquisition of an $88 million Melbourne mansion formerly known as a “ghost house”.

On Monday, reports verified the deal for 29-31 St Georges Road in Toorak as the most expensive house sale ever recorded in Victoria – even making it to the third place of highest property sales across Australia.

The Toorak mansion is making headlines for its potential to break the Victorian price benchmark, with a hushed contract being inked at an amount thought to be over $70 million. This excellent deal has outshone all others and demonstrates that there’s still strong demand for high-end properties throughout Victoria.

Mr Craven, the 26-year-old founder of Stake.com – an online cryptocurrency casino – discreetly acquired the vacant 29-31 St Georges Road in an off-market trade. This is his second purchase in a luxurious suburb this year, and he has been spending millions on these houses.

An insightful quote from the crypto mogul: “I think we’re in a stage of economic history where things like this are inevitable,” he said when asked about his business’ phenomenal success, “And if you can be one of those people innovating and take advantage of that, then it’s time well spent.”

On Monday, 17 St Georges Road in Toorak was submitted with an offer at its initial market price range between $65 and $70 million.

“This is an infrequent transaction, and it’s been very cleverly managed,” says Savills marketing agent Clinton Baxter, who had worked with Mr Craven on the previous deal that went through in February.

The undisclosed 26-year-old entrepreneur already owns a $10 million mansion in Toorak, which he has spent millions renovating by bringing new life to the property.

He was also said to be in a long-term contract for an $18 million house in neighbouring Armadale, so there is no doubt that his new purchase will need considerable work.

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