Stylish Sydney penthouse sold at auction for $4.375m

A penthouse apartment in Sydney’s Eastern Suburbs has been sold after a frantic auction saw proceedings get underway with five $100,000 bids placed.

The beautiful three-bedroom property in Bellevue Hill crowns a boutique Art Deco building and has sweeping views across Sydney’s iconic harbour.

Ray White’s team of Evan Williams and Gavin Rubinstein oversaw the sales campaign for the wonderfully designed home on behalf of their client who works in the financial sector.

“It’s an interesting property because it has a lot of curvature throughout,” Evan says.

 “The third bedroom has been turned into an office with a wonderful 180-degree harbour view and on a clear day you can even see the Blue Mountains as well!” he explains.

There were six registered bidders in attendance at Tuesday evening’s auction with the action getting underway at the $3.7 million mark before quickly rising north of its $4.1 million reserve price.

“To make half a million dollars in 58 seconds for your client is pretty incredible, he was very excited of course,” Evan explains.

“It goes to show that, if you can build interest and run an auction successfully with multiple bidders, which takes skill, that auctions are back.”

The sale is now the top price for a walk-up apartment in Bellevue Hill, and with transactions similar to this penthouse sale taking places in recent weeks, a certain trend seems to be emerging.

“We are noticing that there is a resurgence of people that are buying existing art deco apartments and putting their own marvellous touches and architectural changes throughout,” Evan says.

The Bellevue Hill pad was designed by building architects Brianda Projects and its new owner is set to enjoy its fabulous features as an increasing number of Aussies look to land their dream homes.

“At the end of the day, when you meet people who are very well versed in areas that they want to live in, it doesn’t just come down to price, the question is, does the property suit their needs?” Evan explains.

Address

The Penthouse 8/42 Fairfax Road, Bellevue Hill, NSW 2023

Agents

Evan Williams – 0415 878 262
Gavin Rubinstein – 0424 532 451
Ray White TRG

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