The prestigious property in Sydney got off to a strong start when the Darling Point apartment was sold for DKK 20 million. USD +

Sydney’s prestige real estate market has got off to a strong start for 2022, with a Darling Point apartment quickly selling for more than $ 20 million, double what it cost three years ago.

Sydney’s prestige real estate market has got off to a strong start for 2022, with a Darling Point apartment quickly selling for more than $ 20 million, double what it cost three years ago.

The five-bedroom, six-bathroom garden home with a 1/56 Yarranabbe Rd three-car garage had cost $ 10.25 million by the end of 2018, as property records show it was purchased by Marisa Campion, wife of hotelier Graham Campion .

This time, the property was online for two weeks with a major print campaign planned, but was removed from realestate.com.au yesterday, and when contacted, Sotheby’s CEO Michael Pallier confirmed it had sold for “significantly more” than $ 20 m price guide.

“The prestige market is as strong as it has ever been – it’s going to be a great year,” he said.

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“As long as Covid continues, people are focusing on their homes, and there are so many expats returning.”

Pallier could not discuss either the seller or the buyer, although property records indicate that it was previously owned by Campion’s brother, Stuart Rose, who is co-manager of developer giant Rose Group with his brother Bryan.

Sales have happened much faster this time.

Previously, it was on the market with a $ 10 million guide for three years before his sister and her husband recognized its quality – the three apartment complexes were built by the Rose Group – and paid what was then a premium price.

The apartment is built over three floors with an elevator connecting each floor. It overlooks Harbor Bridge and a pool.

It is located under the penthouse apartment, sold by Campion and Rose’s parents Bob and Margaret Rose in 2017 for $ 9.98 million to Robin Chen, CEO of Starcom Mediavest.

Pallier says he has been driven off with ads and sales this year and he works over January and Australia Day.

His sales have also included a five-bedroom penthouse on 5/30 Dalley Ave, Vaucluse, which was sold for about $ 18 million.

Originally released as Sydney Prestige Property got off to a strong start as Darling Point apartment sold for $ 20m +

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