A penthouse in Sydney’s Parramatta, that’s yet to be built, has sold for five times the suburb’s median apartment price for $3,325,000, according to Domain.
The three-bedroom, four-bathroom home is part of the swanky 314-apartment development, 8 Phillip Street.
It was reportedly sold to a western Sydney businessman and his wife, who will downsizing from their home in the Hills District.
They’ve paid around $17,500 per square-metre.
The 190-square-metre penthouse will be the highest residential floor, on the 53rd storey — one level below what will be Sydney’s highest rooftop venue, Studio 54.
Architects Woods Bagot designed the impressive development which features expanses of living space that flow into outdoor entertainment areas to marble, designer finishes and Miele appliances inside.
A five-star QT Hotel will take up residence on the lower-levels of the development and will offer high-end services such as including two of Rockpool Dining Group’s signature restaurants, event spaces and a grand ballroom.
There are still five penthouses available.