What a view!Ephraim Island is an elite island enclave that helped transform the city’s north shore.Named after Ephraim Beitz, a Labrador fisherman, Ephraim Island was originally owned by Paradise Point pioneer Jim Hansford.In 1978 it was sold to companies associated with Gold Coast developer Jim Raptis who built the bridge from the mainland at a cost of $6 million.In 1991 it was sold to Japanese corporation KK Alpha Corporation for $45 million.KK Alpha had planned a $400 million Venetian-themed resort named Odyssey Island.However, those plans were torpedoed when KK Alpha, like many Japanese companies which had their fingers burned in the city in the ‘90s, struck financial difficulties and closed its Gold Coast offices in 1993. The living area.Selling agent Georgia Elson of Savills handled the off-market sale — it is the highest sale on the luxury island this year.“This is a unique property being one of Ephraim’s largest apartments with an exclusive lift lobby, three car spaces and uninterrupted views to the east, south and west,” Ms Elson said.The buyers were already living on Ephraim Island.Mr Lazarides advised on several Queensland developments including the Mirage hotels, Palazzo Versace and Harbour Town Shopping Centre.More from news02:37International architect Desmond Brooks selling luxury beach villa16 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag2 days ago Ephraim Island Pde, Paradise Point.KK Alpha reaped just $10 million from the sale of the 9619ha site, in the middle of the Broadwater, when it sold the island to the Lewis Land Group of Companies in 1995.In 2001 Lewis Land, developer of the neighbouring The Sovereign Islands, joined forces with Mirvac in a joint venture to undertake the luxury $555 million project. Aerial view of Ephraim Island, Paradise Point. Picture Mike BatterhamMore than 500 people now live at Ephraim Island mainly in luxury apartments.Notable residents include motor racing great Dick Johnson and Queensland rugby league’s favourite son, the late Arthur “Artie” Beetson.The development features a 115-berth marina, restaurant, and day spa, with about 77 per cent of the island dedicated to open space. RETIRED lawyer and development consultant Larry Lazarides and wife Maree (pictured in 2007) have sold their Ephraim Island penthouse for $2.6 million.RETIRED lawyer and development consultant Larry Lazarides and wife Maree have sold their Gold Coast penthouse for $2.6 million.The property is on the seventh floor in the Broadwater precinct on Paradise Point’s Ephraim Island. Retired lawyer and development consultant Larry Lazarides and wife Maree have sold their Ephraim Island penthouse for $2.6 million.