Original condition Potts Point penthouse sells for $1.1 million over reserve

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Mar 26, 2018

Original condition Potts Point penthouse sells for $1.1 million over reserve

Samuel and Jane Schumann of Di Jones Real Estate sold the original-condition Potts Point penthouse for $4.4 million. There were 17 registered bidders at the auction.

Image: supplied by Di Jones.

A penthouse apartment at 17 Wylde Street, Potts Point, sold for $4.4 million last week.
Image: supplied by Di Jones.

A penthouse apartment at 17 Wylde Street, Potts Point, sold for $4.4 million last week.
Image: supplied by Di Jones.

A penthouse apartment at 17 Wylde Street, Potts Point, sold for $4.4 million last week.

Samuel and Jane Schumann of Di Jones Real Estate sold a penthouse at 17 Wylde Street, Potts Point, last week for $4.4 million, $1.1 million more than the reserve price.

The apartment was on the market for the first time since it was built in 1951, and remained in its original condition. It has one of Sydney's finest vantage-points of the harbour.

“This was a once-in-a-lifetime opportunity to secure a landmark home with breathtaking views of the Harbour Bridge, Opera House, city skyline and north across the entire harbour to Manly and The Heads,” Ms Schumann said.

Image: Di Jones.

The apartment had a flexible three-bedroom, two-bathroom floorplan, and the potential for a spectacular renovation.

The property attracted more than 400 people to the inspections, and more than 40 contracts were issued for the auction where there were 17 registered bidders.

“Local and international buyers were attracted to this remarkable property,” Ms Schumann said

The penthouse is in a block of only six apartments, which were built by Urban Cooperative Multi-Home Units. The developer, John G Davis, lived in the apartment until he died, aged 102 years, in 2008.

The architect was Aaron M Bolot, who designed Art Deco cinema icons The Ritz at Randwick and the Regal Theatre in Gosford.