Luxury penthouse apartment passed in at auction
IT went to auction with expectations of cracking the national record price for a unit sold under the hammer but a Sydney penthouse proved not to be the history-making sale many had hoped.
The apartment on level 40 of Darlinghurst’s Horizon Apartments (right) — which includes jaw-dropping views of the Harbour, CBD and Opera House — passed in at auction on a vendor bid of $16 million.
Knight Frank lead agent Adam Ross said there was a high chance the property would sell in post-auction negotiations. “There’s plenty of communication going on between the solicitors of the interested parties,” he said.
Auctioneer Damien Cooley had two parties register but, despite much coaxing, neither volunteered an offer at the private on-site auction. The property was billed as the largest singlelevel apartment in Sydney and offered 565 sqm of internal space, along with another 145 sqm of balcony space.
Mr Ross, who shares the listing with colleagues Oliver Stillman and Deborah Cullen, said the auction had “uncovered buyers we would have otherwise not met”.
“It sends a direct message to the marketplace that we’re selling,” he said.
The property was first offered to the market in February in an expressions of interest campaign with a $20 million guide, but went to auction with a $16.5 million guide.
The luxury property was redesigned by Mim Design.
The Melbourne-based Graham family had bought the empty shell across two titles for $9.83 million early last year.