Main Beach apartment complex Sea secures $6.3 million sub-penthouse sale
Apartment sellers in the luxury Main Beach block Sea have joined the windfall gains kicked off by the off the plan buyers three years ago.
The sixth level sub-penthouse in the boutique block of just seven whole floor apartments has just sold for $6.3 million, some $800,000 higher than it was bought for just eight months ago.
The whole floor apartment spans 365 sqm and has three ensuited bedrooms, a home office and a media room.
The sale was secured in just 15 days by Ray White Surfers Paradise agent Robert Graham, to a local couple from the Gold Coast.
Investors will no doubt be looking to some of Main Beach’s high end apartment developments given the resale value which Sea, on the beachfront Main Beach Parade, has seen in recent years.
The majority of Sea’s off the plan buyers have seen huge price gains when re-selling their apartments following its mid-2018 completion.
Most off the plan sales took place in early 2018, a few months before the Bayden Goddard-designed block was completed.
The second level apartment sold for $3.3 million in early 2018, and less than 15 months later when completed sold for $5 million. It traded again last year, bought for $5.35 million by the Dominos Pizza boss Don Meij.
Apartment five, another which sold for $3.3 million off the plan in 2018, sold last year for $5.5 million, a $2.2 million gain in just two years.
It was sold by Brittany Eastment, wife of car dealer Greg Eastment, the latter still owning the ground level after his $3.5 million off the plan buy.