High-flying luxury sales often go under the radar

4 years ago admin Comments Off on High-flying luxury sales often go under the radar

Some of the best listings are off-market deals, or “whisper-listings” quietly offered to upper-end buyers and clients of top-tier real estate firms.

A luxury apartment in Salta’s ultra-modern East Melbourne block, 150 Clarendon Street, broke records last September, selling for $9.25 million.

The sale, handled by Sotheby’s International Realty director Phillip French, represented a rate of about $27,000 per square metre, a record in one of Melbourne’s most sought after areas.

Lennie and Maria David sold the apartment to a Japanese entity, Mitsui & Co (Australia). They had bought it off the plan for $5.2m in 2010.

In Sydney, “Aussie” John Symond won headlines with the sale of a penthouse in the Pacific Point block in Point Piper for more than $13.3m via LJ Hooker Double Bay’s Bill Malouf. The luxurious 590sq m customised harbour-view penthouse occupies the upper two storeys in a boutique building of just four units.

But few would know that last November the Fragale family sold a residence in the world-class Sienna apartment complex on Wolseley Road, Point Piper, the harbourside strip billed as the most prestigious in the country.

The sale to the private Jayde Investments, controlled by the family behind the Club Trading & Distribution grocery wholesale distribution business, was struck at $8m, and flew under the radar.

But not all such gems are kept entirely off-market.

Developer Toga is readying to sell the penthouse at its Boheme development, in the heart of Bondi Beach, for more than $11m.

The property was retained by Toga after the project was completed in 2013 and is being offered to select buyers following a series of record-breaking penthouse sales in nearby projects.

The oversize apartment that spans 225sq m inside and has a terrace of 406sq m has never been lived in. It may now quietly come to market.

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