It is one of the last developable waterfront sites in Sydney’s iconic Darling Point and developer Michael Teplitsky is offloading the property.
The property at 77-81 Yarranabbe Road has approved plans for a luxury Koichi Takada-designed four-apartment tower on the 1038sq m block, with prime views over the Sydney Harbour Bridge.
It’s the sprawling waterfront property of notable Sydney developer Michael Teplitsky, and Colliers agents are tipping it will sell for more than $50 million.
It is now configured as a four-apartment block, which Teplitsky reportedly acquired over time.
“Opportunities of this size and scale directly situated on the waters of Sydney Harbour seldom come to market,” Colliers’ Matthew Meynell said.
“Combine this with DA approval for four high-end apartments and you have one of the most attractive listings to hit the market so far this year.”
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Sydney’s tightly held eastern suburbs continue to chalk up robust sales figures with Top Spring’s Ode development attracting close to $100,000 per square metre.
Julian Hasemer of 1st City Real Estate said developable sites in Darling Point were “virtually impossible to find”.
“The astute developer now has a significant opportunity to capitalise on this extremely rare, DA-approved site,” Hasemer said.
“Once this Koichi Takada-designed masterpiece is completed, these four luxury, whole-floor waterfront residences will be highly sought after, they will command the highest prices ever paid for apartments in the east.”
Teplitsky is well-known for his penchant for waterfront living after acquiring Aussie John Symonds’ Point Piper penthouse for $13.3 million in 2017 and reportedly acquiring a Vaucluse mansion, formerly sold by his ex-wife, from business rival Tal Silberman.
The developer faced off in court against Silberman over an alleged assault last year but was not convicted.
Silberman is founder of Moshav Financial, which recently launched to market the biggest single-floor penthouse at Bondi Beach, designed by Koichi Takada.
Ray White Projects and Wiesner Property have set price expectations at $26.4 million for the AYA penthouse, in the Aqualine Bondi Beach project at Hall Street.
