Loftus Lane apartment sells for $17 million

An apartment in the new Circular Quay development Loftus Lane has sold for $17 million.

Despite the apartments not officially launching until tomorrow, one locally well-heeled buyer has snuck in to pay around $57,000 per sqm for the 296 sqm apartment offering.

It falls short of the $96,400 per sqm paid for the $27 million record breaking apartment sale in the Opera Residences last year.

That was reputedly bought by businessman and philanthropist Robert Salteri and his wife Kelly.

The Loftus Lane two storey unit on level 12 of the low-rise building has three bedrooms and sits in one of the three residential buildings developed by AMP Capital.

Completion of the buildings is slated for 2021 as part of the AMP Capital developed project to upgrade Circular Quay.

Some potential buyers have been underwhelmed by Loftus Lane, which comprises 106 apartments in three low-rise buildings.