A super-sized penthouse in the heart of Fitzroy has been sold for close to 10 million dollars, smashing the previous residential apartment price record by almost 4 million dollars, according to real estate website domain.com.
The property, located on Smith Street in a building called ‘Fitzroy Fitzroy,’ is a fusion of three apartments on the same floor.
The buyer, described only as an Australian citizen in their 30s living abroad and traveling frequently back to the country, has acquired a truly unique residence.
The exact sale amount remains undisclosed, but Dean Lefkos, the founder and director of Chapter Group, the construction company behind the project, revealed that it was around 10 million dollars.
This impressive penthouse boasts 400 square meters of interior space complemented by 120 square meters of outdoor zone.
Among its features are 360-degree views, five bathrooms, a library room, a games room, a formal living room, a lounge, and a dining room.
The buyer will also enjoy access to the building’s residential amenities spread across nine floors, all meticulously designed by DKO Architecture.
Mr Lefkos explained that while the initial design envisioned 56 apartments and six townhomes, several have been combined, resulting in a complex of 52 apartments and five townhomes.
This diverse offering has proven popular among a wide range of buyers, from their 20s to their 60s, with most being owner-occupiers.
“The buyers were greatly impressed by the heritage façade and unique design of ‘Fitzroy Fitzroy,’ particularly the way it blends the old with the new,” stated Mr Lefkos.
Historically, Fitzroy became Melbourne’s first suburb in 1839, dividing the area between Melbourne and Alexandra Parade (originally named Newtown) into vacant lots for sale.
Over the years, it became a hub for working-class families and later welcomed thousands of Greek immigrants who bought homes there.
Property values have soared since then, with Fitzroy being ranked as one of the world’s coolest neighborhoods by Time Out magazine in 2022.
Dr. Nicola Powell, Domain’s Head of Research and Economics, noted that Fitzroy’s property prices have been steadily rising, with a 16.4 per cent increase last year, the highest in metropolitan Melbourne. This surge is attributed to fierce competition for the limited available houses in the area, making Fitzroy a highly sought-after location in Melbourne’s property market.
