Elizabeth Bay penthouse sells at $8.55 million pre-auction

The penthouse 8/27 Billyard Ave Elizabeth Bay has been sold at $8.55 million pre-auction.

It was once owned by one of Sydney's most glamorous businesswoman, Karin Upton Baker who vacated it four years ago.

The dormer pied-a-terre was listed by the veteran developer Phillip Wolanski through R&W.

The Billyard Avenue, Elizabeth Bay penthouse was sold by mortgagees at $5 million two years ago.

It's two week's in a row for Elizabeth Bay as the top selling property for the week ending May 29 was a three bedroom waterfront unit on the avenue's harbourside. 

The property, 3/28 Billyard Avenue, Elizabeth Bay, sold for $7 million through Peter Starr at McGrath Estate Agents.

The median price for an apartment in Elizabeth Bay is $755,000, according to CoreLogic