“It proves that there is an extreme shortage of downsizer homes in Mosman village, which explains the stampede for the apartments.”
The 215 sqm penthouse in “Reverie” smashed local records, fetching north of $15 million, with three locals fighting over the residence.
“The price was driven up because the three parties were desperate to live in the village, within walking distance to everything,” Mr Monk said.
“It will overlook Allan Border Oval, with three bedrooms, three bathrooms, a powder room and a study, a six-car garage and a wine cellar.
“There were extraordinary scenes with many people desperate to buy into the development,” Mr Monk told Mosman Collective.
Twelve remaining three-bedroom apartments facing Myahgah Rd fetched between $7.5 million and $10.5 million.
Mr Monk said the two-bedroom Vista St frontages sold for over $4 million each, with a three-bedder achieving “in the low five millions”.
The estimated price before the sell-off was quoted from $3.6 million for a two-bedroom and $6.5 million for a three-bedroom apartment.
A modern blend of rich textured timbers, tactile stonework, soft curves, and coffered ceilings of up to 3.15m, the Reverie homes each feature spacious alfresco zones for outdoor entertaining.
The “Reverie” penthouse sold for more than $15 million, with 19 other “off the plan” apartments achieving eye-watering prices.
The designer kitchens are both stylish and functional with five-star finishes such as marble surfaces, timber veneer joinery, Zip water systems, fully integrated Sub-Zero refrigerators, Wolf appliances including a 760mm wide pyrolytic self-cleaning oven and a combi microwave oven plus large pantries.
“Our buyers are all over 50, with many over 70 years of age,” Mr Monk said, “and they have no intention of moving into a retirement home.”
“Lower north shore residents in this age bracket are active, fit, intelligent and social people who just don’t want their huge home any more.
“They don’t want to mow lawns and clean pools and be burdened with the upkeep of a massive house.”