$4.7 million Mirvac-built McMahon Point apartment tops weekend auction sales
The harbour-front McMahons Point apartment sold after just seven bids
Jonathan ChancellorSeptember 26, 2021
A three-bedroom, two bathroom harbour front apartment at McMahons Point sold at weekend auction for $4.7 million.
The 16/18-22 West Crescent St apartment secured its sale after just seven bids.
Adrian Bridges, of Atlas by LJ Hooker Lower North Shore, had six registered bidders, but just two competed.
It had 230 sqm space in the 1984 Mirvac built complex of 20 apartments with views across Berrys Bay to Balls Head Reserve and capturing views of the Anzac Bridge, city skyline and Balmain.
It last sold in 1992 at $760,000.
The boutique waterfront reserve Sandpipers block saw a $3.6 million top sale last November.
Sydney weekend auctions saw an 81% success rate from its 206 auctions at a $1m median, according to CoreLogic.
The national apartment auction success rate was 76% from the 277 offerings.
There were just the 42 results in Melbourne - and a 64% success rate - given the long weekend.
Jonathan Chancellor
Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.