High flying Gerry and Sue McGowan sell Double Bay penthouse

Gerry and Sue McGowan have snappily sold their three bedroom Double Bay apartment, billed as the best in the suburb.

The 13/38 Bay Street offering was the top floor, north facing 490 square metre space in the Ercole Palazzetti-designed complex, The Chancellor.

More than $7 million was being sought by James McCowan from Sydney Sotheby's International Realty, but no sale price has been revealed. Interested parties were being told they needed to go to $9 million or higher to secure the offering.

None the less, the quick sale certainly suggests nascent signs of the village renaissance, aided by the opening this month of the Intercontinental.

The McGowan's paid $5 million off the plan in 2003 with 2005 completion by the builder, Multiplex. They added three car spaces costing $75,000 each in 2006.

They briefly thought about selling in 2006, when it had $6.25 million hopes.

The eastern suburbs prestige apartment market is showing increased signs of activity as last week a four bedroom apartment in Darling Point sold at auction for $5.5 million.

The garden apartment with large terraces and harbour views at 4/8 Carthona Avenue attracted four bidders at Cooley Auctions for the 1996-built Giles Tribe Architects designed apartment.

Spending more time overseas, Gerry McGowan has been associated with the Nasdaq-listed renewable energy group CBD Energy in recent times, having previously been known for his airline entrepreneurship.