A penthouse apartment in Sydney's Bennelong Point, with a 270 degree outlook of Sydney's iconic harbour, is Australia's most expensive apartment.
Selling for A$26m (NZD$27.4m) off the plan, the three-bedroom apartment in the luxury residential development, Opera Residences, cost an average rate of $95,500 per sq m, making it the most expensive single apartment ever sold in Australia.
This iconic penthouse covers 272sq m of floor space and features four bathrooms and a triple lock up garage.
It was sold to a local buyer who wishes to remain anonymous and was secured prior to the official launch day of the development this Saturday.
The previous price record was held by Melbourne's Australia 108 development. The penthouse in the southern hemisphere's tallest building sold for $25m in early 2015.
But that is not all. The anonymous buyer of the Opera Residence penthouse also secured two of the sub penthouses in the development. The sub penthouses sold for $16m and $15m respectively, amounting to a grand total of $57m for the three apartments.
More than 183sq m of floor space each, both offer three bedrooms plus a study, three bathrooms and two car spaces.
CBRE residential director Tim Rees, who finalised the sales, said demand has been unbelievable due to the exclusive location.
"There has been unprecedented demand for Opera Residences' super premium apartments and this represents the last opportunity to purchase a brand new apartment on Bennelong Point," Mr Rees said.
"The launch of Opera Residences will be unrivalled and unlike any other - something the market has not seen for more than 20 years since the opening of Bennelong Apartments."
But as one luxury penthouse sells, another one hits the market. The penthouse residence of Bondi Beach's PACIFIC development has just hit the market.
Framed by 80sq m of terrace space, the Lighthouse 504 apartment offers a 236sq m three-bedroom, four-bathroom residence featuring 19m beach frontage and headland to headland views.
The PACIFIC Bondi Beach development was recently awarded the Urban Taskforce Development Excellence Award for 2016. It is expected to sell for approximately $9m.