News Corp Australia Network
A Potts Point apartment has sold for just short of $2.3m, the second-highest price for a one-bedder in the popular suburb.
Richardson & Wrench Elizabeth Bay/Potts Point agents Angelo Bouras and Joss Reid had been guiding $2m for 315/50 Macleay St in the BKH-designed landmark block, The Rex.
Bouras couldn’t confirm the exact sale price due to a confidentiality agreement, but sources say the young owner-occupiers paid close to $300,000 above the guide for the apartment that was due to go to auction next Thursday.
The result is great news for vendors Rhonda Baker and Barbara Lockett, who, according to records, paid $1,505,000 in 2017.
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The apartment featured just one bedroom …
… but it was very stylish.
The couple, who did a $300,000 reno, are planning a sea-change after selling their chocolate shop in The Strand arcade in the city and now their apartment.
Bouros says the quality makeover, which included beautiful joinery, helped attracted a range of buyers to the property amid what he and a range of agents are now saying is a cooling market.
It also helped that it’s a good-sized apartment, with 90 sqm on title.
The owners did a $300k reno.
The huge terrace faces south.
“Good properties like this one are still selling well, but it’s a bit more difficult if you don’t have the bells and whistles,” Bouras said.
Stock levels have increased in the area which means buyers have more properties to choose from.
“There are now about 130 to 140 properties for sale in the area, up from around 90,” he said.
Bouras also sold the most expensive one-bedder in the suburb for $2,561,000 last June to LJ Hooker Double Bay’s David Malouf.