The $19m house hoping to beat its own suburb record 16 years later

Investment banker Scott Malcolm and his wife Jane Taylor have put their Edgecliff trophy home, Carmel, up for grabs with a $19 million guide and if sold at that level, it would smash not only the suburb record but also the loftier sales heights of Woollahra.

The F. Glynn Gilling-designed residence has had a pedigreed line-up of owners since it was built in the 1930s for prominent stockbroker Stanley Utz, who became federal treasurer of the Liberal Party in the 1950s.

In 1959, it was bought by newspaper mogul Ezra Norton for ??17,000, and in 1968 Rupert Murdoch bought it for $200,000 from the late Gladys Penfold Hyland, of the wine pioneer Penfold family.

Set on almost 1300 square metres on Edgecliff Road, it set a suburb high when it last traded in 2001 for $6,775,000, when put on the market by Dominic and Kathryn Roche.

Having sold it at the time, Michael Pallier, of Sotheby's International, has again listed the landmark art deco residence.

At that price it will top its own high by 180 per cent, and beat Woollahra's $16.5 million record high set last November when the Listowel trophy home, also on Edgecliff Road, was sold by business Costa Vrisakis to the Levy family.

Malcolm, founder and executive chairman of Greenstone Partners, is bound for Elizabeth Bay where he and Jane have paid $8.55 million for the Billyard Avenue penthouse of developer Phillip Wolanski and Melbourne-based Sam Alter and Stewart Baron.

That apartment was owned by the Wolanski-headed syndicate only less than two years since it was sold by a mortgagee company for $5.91 million on behalf of Hermes Australia boss Karin Upton Baker and her husband Gary Baker.