Krissy Marsh's Double Bay buyer backs out

The offshore buyer of Sydney socialite Krissy Marsh’s Double Bay apartment has failed to proceed with their proposed purchase, and the property has non returned to the market­ with a $4.3 million asking price.

The luxury apartment in The Bay Residences was marked “under contract” in June, only for the Hong Kong buyer to back out before­ its much delayed settlement date.

It is understood there was a 5% deposit.

The one-time Real Housewives Of Sydney star paid $3.5 million in 2015 for the apartment, where she resided when Foxtel filmed the opening season of the reality show.

Marsh has been seeking a sale so the family can buy a holiday home in Noosa.

Marsh, her husband John and their three children reside in Dover Heights, in a home which they briefly listed in early 2017.

The Double Bay unit was initially listed last Christmas with ambitious $5 million price hopes.

It was last marketed with a guide of $4.28 million to $4.38 million, selling at about $4.25 million through Alex Lyons at Raine & Horne Double­ Bay.

Spanning 285 square metres, the apartment comes with three bedrooms, each opening to balconies.

Marsh, who was dubbed the “property princess” on RHOS, bought her first Sydney­ property in 1994 paying $260,000 for a two-bedroom­ art deco apartment in ROSE BAY, which she sold a decade later for $620,000.

She is not the only one to be caught up in recent sales collapses.

In Potts Point, veteran property investor Andrew Isles has just secured the sale of his Manar apartment after its November 2018 buyer pulled out of a $4.1 million deal.

Locals have been left dumbfounded as it has resold for $3.75 million, a few weeks after its no-bid auction through Richardson & Wrench agent Jason Boon.

Records show that it was bought in 2009 for $2.25 million from the former lawyer­ Russell Keddie.

This year a $30 million Vaucluse sale collapsed and a $14 million Wahroonga sale also fell through.

This article was first published in the Saturday Daily Telegraph.