Halfway there in Double Bay's 1788 OTP sales

Halfway there in Double Bay's 1788 OTP sales
Halfway there in Double Bay's 1788 OTP sales

There has been a $13.75 million sale in the 1788 Residences development at Double Bay.

Late on Thursday a buyer exchanged on the sub-penthouse on level five of the Bates Smart-designed project after an amalgamation of two apartments into a single unit.

It topped the $10.5 million record paid a month ago when a smaller 180-square-metre penthouse sold on the day of the VIP launch. 

CBRE selling agent Ben Stewart said the sub-penthouse 295 square metre amalgamation equated to $46,610 per square metre.

The penthouse equated to a bullish rate of $58,333 per square metre.

The SJD Group development also secured a $9.6 million for an apartment on level three.

Before the 1788 sale spree, Double Bay’s highest apartment sale was $8.9 million, when the penthouse of the Chancellor sold in 2014.

There are 15 apartments left to be sold of the 31 on offer in 1788.

At its late August VIP launch, just 11 of the 31 apartments sold for a total of $55 million. 

It is due to be complete by early 2019.

Tags: 
Double Bay Bates Smart

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