The 1101/150 Clarendon Street, East Melbourne sub-penthouse repriced $10 million less than initial $46 million hopes
The 11th floor sub penthouse apartment at 150 Clarendon, encompassing more than 1,400 square metres of space, has been repriced down from its initial $46 million asking price.
On its May listing The Herald Sun reported the price was "unbelievable." The Age suggested the eye-watering price guide was seen as “fairly strong” by one buyers’ agent.
The price guidance has been dropped to $36 million to $39,600,000, in the statement of information advisory posted in mid-August.
Despite the white flag being flown, The Age reported its new price is "still pretty strong."
It is not the penthouse which was retain by the Salta development company Tarascio family who sold the sub-penthouse apartment off the plan in 2007 for $19.4 million.
It replaced the former Mercy Hospital.
Positioned overlooking Fitzroy Gardens with three-metre ceilings, the home has enormous proportions.
It has an open-plan kitchen and living area, complete with a large marble island bench, Miele appliances, triple oven and a walk-in butler’s pantry.
The living areas open up for inside-outside entertaining and living.
The master bedroom is a hidden retreat with north and east-facing views to maximise sunrise and morning light.
It comes with what's marketed as a "decadent" ensuite with spa.
There is a private west-facing office, study, a further three bedrooms with ensuites, private cinema, bar, and meditation room.
The marketing includes a video of the vendor, Margaret Lou who called the home “one of the best apartments in the world”.
“I looked everywhere, London, New York, Los Angeles, Shanghai, Beijing, everywhere,” Ms Lou said.
The property is held in the name of Hong Kong-based corporate vehicle Lou Property Holdings Ltd and settled in 2010 for $19,359,200.
She plans to buy back into Melbourne later, possibly even the same apartment down the track, at double the price.
A Melbourne project on St Kilda Road, The Muse, has its OTP penthouse priced at $45 million.
The penthouse in Tim Gurner’s Saint Moritz project in St Kilda had an asking price of $30 million before being snapped up by property publishing entrepreneur Antony Catalano.
The highest confirmed apartment sale price in Melbourne is the yet to be completed $25 million penthouse of Australia 108.
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