Yahoo Finance Inside the $20.1m Bondi pad that just broke price records
A Bondi Beach penthouse that sold for $20.1 million over the weekend has become the most expensive apartment that has ever gone under the hammer.
The four-bedroom, four-bathroom penthouse, which has sweeping uninterrupted views of Bondi Beach, has been described by realestate.com.au as one of the suburb’s best penthouses, and on Saturday was snapped up by online gambling website founder Joshua Chan.
Until recently, the home was owned by former world champion yachtsman James Mayo, with a representative for Chan outbidding six other competing buyers to win the home.
The penthouse had an initial guide of $13 million to $15 million, which was later revised up to $15-$17 million.
But the $20.1 million price tag meant the apartment went $3 million higher than the reserve and $5.5 million more than the opening offer of $14.5 million.
The last time the penthouse traded hands was in 2016, and it was priced at $9.8 million.
The apartment was sold by The Agency Eastern Suburbs’ Ben Collier, who said he was surprised by the final auction results.
“The difficulty for vendors, buyers and agents alike is trying to ascertain where the market level currently sits with any property, and that’s why we’re seeing a recalibration [of the market] with properties such as this,” he said as reported in Domain.
The penthouse has a deck that has a north-easterly view of the beach, as well as stunning interiors with floor-to-ceiling windows.
Wide windows also provide panorama views from the dining room.
“You will be instantly impressed by this penthouse's exceptional privacy, stunning panoramic ocean views and divine north east facing aspect, only to be blown away again by its sleek open plan interiors and superb indoor/outdoor flow,” the realestate.com.au listing states.
The apartment was renovated by investor Vaughan Blank, the apartment’s owner before Mayo.
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