In a market where prices are predicted to fall by up to 20%, the sale of a Double Bay penthouse is bucking the trend.
A new record has been set in Double Bay as a retired couple pays $24.95 million for a penthouse, purchased off the plan.
The couple, looking to downsize but wanting to remain in the Double Bay locality, have paid a record-breaking $24.95 million for a 311sqm penthouse in the new development Ode in Double Bay. The apartment includes a private roof terrace with spa pool and cabana.
The apartments hit the market less than a fortnight ago and already many have been sold. Hong Kong company Top Spring is behind the development that is set to include 18 apartments and 4 commercial spaces along Transvaal Avenue.
No expense has been spared with this prime development in a blue-ribbon suburb. Award winning architect Luigi Rosselli is behind the design, which he describes as “a positive, optimistic response to the global re-emergence into the 1950s”
The previous sale record for Double Bay was $16.092 million for a 149sqm penthouse in William Street.
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