# Afterpay Co-founder Anthony Eisen Invests Millions in Melbourne Commercial Real Estate Billionaire Anthony Eisen acquires a historic Armadale property for his family office and design firm. - **Source:** [Sydney Morning Herald - Business](https://www.smh.com.au/rss/business.xml) - **Published:** 2026-10-15 - **Topic:** [Finance](https://brifing.si/c/finance) - **Original article:** - **On Brifing:** https://brifing.si/s/7d2f2b87-bc7d-450d-ac00-d1f90410d212 ## Strategic Property Acquisition Afterpay co-founder Anthony Eisen and his wife Samantha purchased a double-storey building at 1118-1120 High Street in Armadale for $12 million. The couple intends to utilize the 440 square metre facility as a base for their family office and interior design practice, marking a significant shift toward private real estate holdings. ## Capitalizing on Tech Wealth Eisen, who holds an estimated $1.16 billion fortune, recently liquidated a portion of his stake in Block for approximately $67 million. This liquidity supports his ongoing diversification strategy, which includes backing the instant refund platform Reshop. His recent real estate activity follows a $26 million mansion purchase in Toorak during 2022. ## Historical Site Context The Armadale property possesses a rich commercial history, having served as the long-term home of Grace Antiques until 2009. It subsequently traded hands between a menswear retailer and disgraced aged care operator Peter Arvanitis in 2015 for $6 million. The building sits on a 455 square metre parcel of land. ## Renovation Market Trends Interior design remains a high-demand sector in Melbourne, with residents in Stonnington and Boroondara leading the state in renovation spending. Reports indicate these areas average over $25 million in monthly renovation activity. This trend aligns with the Eisens' commitment to upgrading their new Armadale office and their separate Byron Bay property. ## Toorak Development Shifts Nearby in Toorak, the market shows signs of flux as VSV Holdings acquired a 1400 square metre site at 39-43 Ross Street for $15.3 million. This site is positioned behind the $400 million One Toorak Place project. Developers are increasingly targeting these areas for high-density luxury apartment schemes designed by firms like Fender Katsalidis. ## Cooling Auction Environment Rising interest rates and general economic discontent have dampened buyer enthusiasm across Melbourne’s commercial auctions. Recent sales, such as 490 Flinders Street, required post-auction negotiations to reach a $4.5 million agreement. Other properties, including 209-211 Russell Street and 375 Queen Street, failed to sell at auction despite receiving single bids. ## Ringwood Redevelopment Potential The former Iceland ice rink site in Ringwood recently sold for approximately $20 million. This 9430 square metre plot, once a landmark for 1970s rock bands, is situated in a government-designated activity center. Investors are eyeing the area for high-rise projects, with nearby land parcels also attracting significant interest from commercial developers. ## Market Outlook and Impact The divergence between high-end private acquisitions and stagnant public auctions highlights a bifurcated market. While ultra-wealthy individuals like Eisen continue to secure prime assets, broader commercial sentiment remains cautious. Future activity will likely depend on interest rate stabilization and the successful delivery of large-scale residential projects currently under construction across Melbourne. ## Sources covering this story - https://www.smh.com.au/business/companies/eisen-family-spend-chunk-of-afterpay-billions-on-swanky-12m-armadale-shop-20261016-p615lg.html?ref=rss&utm_medium=rss&utm_source=rss_business — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._