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By MortgageMix
May 15, 2012
At more than $75,000 a square meter, the figure being knocked around for the penthouse suite in Sydney's newest luxury development is a lazy $30 million - making it the most expensive in Australia.
But the chairman of CBRE residential Justin Brown said the price tag for the top floor of what will be known as Number 1 Sydney was 'actually a bit conservative.'
He suggested that if it were to be sold as a single unit it would be a jewel for trophy buyers, according to The Australian Financial Review.
Private equity firm Blackstone convinced the Sydney City Council to accept its plan for the tower last week, although it is not due for development until at least 2014.
The price would put the current record $16million for the 12th floor apartment in the Bennelong block overlooking Circular Quay into the shade.
Related Story
Better, but Australian housing affordability still among the worst - Despite a shift to the good in its overall affordability Australia still offers the worst housing affordability of any national market outside Hong Kong, a new survey has found.
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