Property price record smashed by Double Bay penthouse sale

The penthouse at 16 William Street in Double Bay was sold for $16m, breaking the record per square metre for property in Sydney’s coveted eastern suburbs.
 

The per square metre price of $108,000 is presumed to be the second highest in Australia’s history.

The sole agent, Joshua Allen (pictured), Founder and Director of JT Allen Real Estate, confirmed the property was due for auction later this month but had so much international and local interest that it sold last night via a direct offer and negotiation.
 

“The brand new, whole-floor penthouse in arguably one of Double Bay's finest designer buildings,” said Mr Allen.

“We have sold a number of premium properties for the vendor over the past eight months, and have broken several price records along the way.”
 

“There is a strong appetite for luxury apartments in prestigious locations like Double Bay, and this level of opulence and space in a harbourside pocket has proven extraordinarily popular.”

A one-bedroom apartment, located within the same development, was also sold by JT Allen and set a new eastern suburbs record at $58,000 per square metre, trumping the previous record of $52,000 with buyers coming from the eastern suburbs, Palm Beach, north shore, Perth, Darwin, Melbourne and  international interest from New York, London, and Hong Kong.

The agent would not disclose the buyer’s name.
 

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