Leon Kamenev, the Ukraine-born entrepreneur behind Australia’s largest online food delivery service, has been identified as the mystery buyer of a record-breaking Sydney property deal.
Kamenev, co-founder of Menulog, quietly acquired four adjoining homes on Coolong Road in Vaucluse—one of Sydney’s most exclusive suburbs—for a total of AU$80 million (approximately $62 million). The purchase, completed away from public scrutiny, marks one of the most significant real estate transactions in Australian history.
The 58-year-old businessman, who fled the Soviet Union in 1990 and once delivered pizzas while learning English in Sydney, is now among Australia’s wealthiest individuals. With an estimated net worth of AU$308 million (about $238 million), he ranks as the country’s 186th richest person, according to the Australian Financial Review.
While reports suggest Kamenev intends to demolish the existing homes to build a private luxury compound, he has stated that no final decision has been made. “I plan to keep it private,” he told AFR.
Sydney’s ultra-luxury property market continues to attract high-profile buyers. Just this week, Mansion Global reported on an AU$80 million waterfront mansion aggressively marketed to Chinese investors, which could become Australia’s most expensive residential sale if it sells at or near its asking price.
Vaucluse has long been a hotspot for elite buyers. In 2015, Chinese-Australian billionaire Dr. Chau Chak Wing set the previous record when he purchased media mogul James Packer’s former estate for AU$70 million (approximately $54 million). Kamenev’s discreet acquisition underscores the growing demand for prime waterfront real estate in Sydney’s most prestigious enclaves.
