Penthouse at Sydney Tower Breaks Record with $26-M Sale

Penthouse at Sydney Tower Breaks Record with $26-M Sale

Penthouse at Sydney Tower Breaks Record with $26-M Sale

Unidentified buyer purchases 4-bedroom apartment at Opera Residences

Sales of Sydney’s 20-story, yet-to-be-built luxury development Opera Residences have reportedly kicked off with a record.

The four-bedroom penthouse was purchased for A$26-M (US$19-M), an Australian record for an apartment, according to Domain Australia.

The unidentified buyer, a woman who is local to Sydney, also purchased 2 three-bedroom apartments below the Penthouse for A$31-M (US$23-M), for a total purchase price of A$57-M (US $41-M) , according to Domain.

The agent for the property and director of CBRE Sydney, said “This sale is breaking every record set.”

“It was a great opportunity in what’s set to be the best-located building in Sydney,” he added.

The sales launch for the 104-unit boutique luxury high-rise was Saturday, the building has already had over 5,000 inquiries into the apartments.

The sales prices have not been released, but expect 1-bedrooms will be starting at A$1.5-M (US$1.1-M, 2 bedrooms at A$3.5-M (US$2.6-), and 3 bedroom at approximately A$6.5-M (US$4.8-M).

The building, located on Bennelong Point next to the Royal Botanic Gardens, offers views of Sydney Harbor and the iconic Sydney Opera House.

It is the first opportunity to purchase property on Bennelong Point in 25 years, according to the data

The Opera residences offer 24-hour concierge services and an on-site store and restaurant. The award-winning Australian architecture firm Tzannes designed the undulating exterior.

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The interiors are designed by Make. The apartments will feature floor-to-ceiling windows to highlight the view, as well as open living and dining spaces created for entertaining.

Construction is expected to begin in April and is slated to be finished in December 2019.

Before this sale, the record for the most expensive apartment sale in the country belonged to a A$25-M (US$18.3-M) Penthouse in the Melbourne building Australia 108.

The existing Sydney record belonged to a sale of 4 apartments in the Bennelong Apartments for A$22-M ($US 16.1-M),, according to the data.

Have a terrific week.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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