By ANNA USHER

Two neighbouring apartment blocks on the Balmoral Slopes have been sold to a prominent Sydney developer in a hush-hush deal worth more than $65 million.

The blockbuster transaction of 13 and 15 Moruben Rd was executed by Nadine Marando and Nick Gittoes of McGrath Mosman, alongside acquisition specialist Chaim Leider from Chem Property.

Speaking to Mosman Collective, Ms Marando said the negotiation process took eight months.

“We are thrilled with the result, as are the apartment owners,” she said, “it was a team effort to get the sale over the line, and all parties are very pleased.”

While she could not confirm the sale price, Mosman Collective understands it was more than $65 million.

A prominent real estate figure, speaking on the condition of anonymity, said he believed the two blocks – totalling 1,648sqm – achieved around $18,000/square metre.

“It’s a once-in-a-lifetime windfall for the owners of both properties.”

Property records reveal 13 Moruben Rd, a 1940s red brick block of six flats, sits on 581.5 sqm. It’s neighbour, 15 Moruben Rd is a blonde brick building built in the 1970s, comprising 11 apartments.

It is understood a major Sydney property developer, with multi-million-dollar projects already completed on the lower north shore, is the purchaser of the site. Mosman Collective has been told plans are already underway for a luxury apartment complex, subject to development approval.

“The site offers amazing views over Balmoral and through the Heads, and Moruben Rd is definitely a prime location that is ripe for re-development,” one local real estate agent said.

“The high side of the street has multiple unit blocks, many of them dating back decades. Owners who get together and decide to sell are reaping the benefits of amalgamation.”

Airtrunk Billionaire and Mosman resident Robin Khuda purchased a 1960s block of flats at 17 Moruben Rd in 2025, and leading developer HELM also bought a large amalgamation at 1-3 Moruben Rd last year. Both sites are set for redevelopment, with ultra luxury apartments in the pipeline.