The high-end property spree by well-heeled downsizers prompted another big-ticket sale in Potts Point on Friday afternoon when the Darnley Hall penthouse sold for $9.75 million.
The two-storey spread atop the 1920s building was implicated in former treasurer Joe Hockey’s crackdown on foreign buyers in 2015 when the owners, Paul Longmuir and his wife Elaine Kwan, reported their ownership as part of the amnesty given suspicions they may have inadvertently bought it against the rules of foreign ownership.
However, the Foreign Investment Review Board later found it was not an illegal purchase and the couple retained the apartment while they rebuilt a Bellevue Hill property designed by Geoform Design Architects after they bought in 2014 for $16 million.
Longmuir and Kwan have owned the grand five-bedroom apartment since 2010, buying it for $8.1 million from local property investor Tony Benjamin.
After it was renovated by interior designer Tonka Andjelkovic the couple listed it about three years ago and there was strong interest from veteran media chief David Leckie, but it never sold.
Jason Boon, of Richardson & Wrench Elizabeth Bay, returned it to the market earlier this year with a $10 million guide.
Boon declined to comment on the buyer.
High-end values have soared in recent years, with successive records broken late last year.
In November digital media boss Matthew Kapp sold his penthouse in the Ercole Palazetti-designed Villard building for $15.5 million after a week on the market, through Boon.
It was just weeks after one of the Ikon penthouses owned by TV production company boss John Caldon sold for a Potts Point record $16 million to audio entrepreneur Peter Freedman, owner of Rode Microphones.
Hardie Grant chairman John Gerahty and his wife Patricia paid $12.5 million for the sub-penthouse of legendary punter and racehorse owner Max Whitby, also through Boon.