Property tycoon admits role in mansion blaze

• Steve Nassif entered plea on Thursday
• Admitted to role in 2022 mansion blaze 
• READ MORE: Fugitive builder resurfaces to call himself ‘number one’ developer

A property mogul faces up to 10 years behind bars after he admitted his role in a deliberately lit blaze that destroyed a waterfront heritage mansion which sold for $24million 10 months earlier.

Steve Nassif, 70, pleaded guilty to damaging a property by fire when he appeared in Downing Centre Local Court on Thursday over the inferno that gutted a historic mansion in Northwood on Sydney’s lower north shore in September 2022.

He and his co-accused Adams Kipkosgei Bett, 21, were arrested three months later after NSW Police released footage of the blaze and a silver Toyota Hiace van captured on CCTV in the street as part of a public appeal.

Nassif’s case has previously been delayed for negotiations over the agreed facts before he entered a guilty plea on Thursday.

The crown prosecutor has since applied to have Nassif detained in custody later on Thursday ahead of sentencing, the Sydney Morning Herald reported.

Property tycoon Steve Nassif has admitted his involvement in the mansion blaze

Dozens of firefighters were unable to save the Northwood mansion which was gutted by fire in September 2022

The mansion burned down 10 months after it was bought for $24.1m by Sandy Chen Yi Fei, the sister of next-door neighbour and fund manager ‘Owen’ Ouyang Chen. The pair are not accused of any wrongdoing and no charges have ever been laid against the Chens.

Nassif’s plea comes after Lane Cove Council previously knocked back an application by the Chens to demolish the gutted remains of the historic mansion.

‘Demolition of a heritage item, even a burnt-out item, should always be the last and final option,’ a decision summary stated.

Police allege that Nassif drove Bett in a grey Toyota Hi-Ace van to the mansion on the night of the blaze, where Bett used an accelerant to set the home on fire before the pair fled the scene.

Specialist Fire and Rescue NSW sniffer dogs were brought in to investigate the fire with the expert animals picking up traces of an accelerant in the ruins of the property.

Despite the best efforts of more than 50 firefighters on the night, the house sustained significant damage with forensic officers determining the fire was allegedly deliberately lit.

No one was home at the time and no injuries were reported.

Built in 1915, the mansion was one of the oldest properties in Northwood before its devastating demise

Steve Nassif (pictured with detectives) was arrested at his Blue Mountains estate three months after the mansion blaze

Nassif was arrested in dramatic scenes three months later at his Wentworth Falls estate in the Blue Mountains west of Sydney, which had a rose-lined driveway packed full of luxury sports cars.

Nassif’s matter will return to the District Court next month.

Bett has pleaded guilty to intentionally or recklessly damaging property over the late-night blaze.

He remains in custody and is due to be sentenced on June 13.

Before it was destroyed, the mansion built in 1915 was one of the oldest properties in Northwood.

Prior to its demise, the property was one of the largest pieces of privately-owned land in Sydney, boasting a 46m water frontage along Lane Cove River with stunning views of the CBD and Anzac Bridge.

The sprawling estate, complete with a tennis court and boatshed, was the home of the Rossi family after it was bought by Mary and Theo Rossi in 1961 until it was sold in November 2021.

Mary, a TV pioneer and travel business owner, lived there until she passed away at the age of 95 in 2021, having raised 10 children in the house with her husband.

The Northwood mansion was destroyed by fire just 10 months after it was bought for $24.1m

Steve Nassif has pleaded guilty to damaging a property by fire. Pictured is the gutted home the morning after the September 2022 blaze

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