The five-bedroom Waillea penthouse at 14/133-137 North Steyne, Manly has a guide price of $40m.
A $40m Manly beachfront penthouse is about to be launched, breaking the record for an underwater property by millions.
It will also set a new benchmark for luxury housing north of the bridge.
In addition, the agent in charge of the sale, Anthony Calacocci, of Belle Property Manly is confident that there is demand for Manly property at that level from both local and international buyers.
The five-bedroom house in Waillea on the northern edge of the beach, North Steyne, is owned by veteran banker turned philanthropist Peter Hunt and his wife Tania de Jong who bought it off-plan in 2008.
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The main living area is 717sqm in size.
It is the entire top floor of the Waillea building.
The living areas open onto a large terrace with stunning views.
At the time locals were in awe of the $12.2m price tag for the Manly apartment and particularly the idea of buying two penthouses and joining them together to create a massive 717sqm living space on the property.
A record $12.2m Waillea penthouse remained Manly’s top price for years until some of Bower St’s most prestigious estates began trading.
It was Peter’s own idea to combine the two houses before the building was finished to create a single-level residence with 30 meters of sea frontage, five bedrooms, five bathrooms and a balcony. There are also five lockable garages.
Anthony Calacocci said the recent sale of Manly beach shows people are willing to pay big money for views and positions.
He unveiled the Waillea penthouse on Monday (Feb 2) in a campaign of goodwill.
Amazing view over the sea.
Rental apartments in Aurora, the site of the former Royal Far West, were selling for more than $75,000 per square meter three years ago, units in Oceania, near The Steyne hotel, fetched $85,000 per square meter and Waillea residences $100,000 per square meter. A penthouse in Oceania sold for $22m, apartments in Aurora sold for up to $16m and last year a one-bedroom apartment in another North Steyne estate, Ondas, sold for $18.05m.
Peter said that many beach apartments only have a small view of the sea and his bedroom has the longest side facing the sea and almost every room enjoys the view.
“The area is very quiet, you only hear the sound of the waves and no traffic and the size of the apartment and its frontage to the beach makes it unique,” he said.
“There is nothing like it and it is unlikely that there will be anything like it again,” he added.
The penthouse, at 14/133-137 North Steyne, has living areas that open to a large deck complete with jacuzzi, outdoor shower and two Vergola.
The penthouse has five bedrooms.
The apartment is accessed by a lift and internally there are 2.7m high ceilings.
Peter was an investment banker until 2018 when he retired.
His career included being a senior director at Macquarie and working at Banking Trust before founding boutique investment bank Caliburn which was later acquired by a US-based bank for around $180m.
Peter and Tania were well-liked in Manly as they founded the Manly Women’s Shelter, which later became Womens Community Shelters of NSW.
Their model is about to be launched in Victoria.
“I didn’t think there would be a problem in Manly at the time and I was shocked when I saw how big it was,” he said.
Peter and Tania moved to Byron Bay but it took them a long time to decide to list their home in Manly.
Manly’s current record is around $34m for a modern mansion on Bower St.
The North Shore apartment record was $28.25m for Kurraba Residences at Kurraba Point late last year.
The $40m sale is still $10m short of the record $50m price for a north coast house at 11 Kirkoswald Ave, Mosman, the home of philanthropist Diane Balnaves, wife of the late TV executive and former chairman of Ardent Leisure, Neil Balnaves.
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