Is this Sydney’s biggest ever house price discount?

This waterfront mansion could be yours for a fraction of the price that was hoped for two years ago.

6 Cabarita Rd, Avalon took four years to build.

A head-turning waterfront trophy home on Sydney’s Northern Beaches has returned to market with a discount as much as $30m since it first appeared on the scene almost two years ago.

The palatial mansion known as Celeste on Avalon Beach’s coveted Cabarita Rd, which has 30m of private beachfront, was reportedly listed at the end of 2022 with $65m price hopes.

It has now reappeared with new agents Michael Clarke and Cherie Humel of Clarke & Humel and a fresh $35m guide.

Back in 2022, the price expectations were vague ranging between $55m and $65m, a figure calculated using the $12.995 million that property developer Robert Yazbek and his wife Annette bought the property for in 2017, plus the estimated $20m to $30m spent on the five-star four-year near rebuild by architect Rob Burton with interiors by Sandra Cotta.

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An incredible location.

What a place for a dinner party!

The pair had purchased from couple Kim Turner and Malcolm MacLennan, a coal industry executive.

Clarke said the previous price expectations had clearly been a reflection of the modern property’s extraordinary location, 1631sq m block size and exceptional features.

“I can see how they came up with that original price, especially when you look at the cost of the home itself and the fact that it’s such a remarkable piece of land,” he said.

“Obviously, the market feedback just hadn’t been there at the time.

“When it previously launched there was no close competition, but now there is.

“There have been several recent sales on the Northern Beaches which put this into perspective.

The Northern Beaches now has a whole new benchmark for this calibre of property,” he added.

The boating facilities are incredible.

Agent Michael Clarke says it’s the most remarkable property on the northern beaches.

A new Manly price record was set in May when a contemporary home at Fairy Bower sold for $35m through Clarke & Humel and in the same month an Iluka Rd, Palm Beach sale notched up $25m.

Also in Palm Beach, a Pacific Rd pad fetched between $26m and $27m just this month, and a waterfront residence, just next door to Celeste on Cabarita Rd, was purchased for $21m earlier this year.

“The neighbouring house is smaller and isn’t as modern as this one,” Clarke said.

“The reality is, you couldn’t reproduce what the vendors have done for the same kind of money.

“It is truly the Northern Beaches’ most remarkable property and the level of detail is second to none.

There’s a 20m heated pool.

“From the extensive floor plan and the incredible location to the amazing interiors and mind-blowing boating facilities, it really does have everything.

“This is undoubtedly the best-priced prestige property I’ve ever seen.”

Sitting on the Stoke Point tip of Avalon Beach, Celeste has its own a private beach, jetty and a deepwater berth.

There are views over Careel Bay across Pittwater to Lion Island and the Central Coast.

Framed by walls of sweeping glass to capture the outlook and spill out onto the multiple terraces, the layout includes six bedrooms, five bathrooms, several living and entertaining spaces, as well as a commercial wet bar, gourmet kitchen, full-floor primary suite, cedar sauna and separate guest studio.

Fitted with the latest in integrated smart home technology there is also facial recognition entry, zoned and ducted air-conditioning, heated floors, blackout blinds, TVs throughout and a KNX control system for all lighting, curtains and security.

Outdoors, the landscaped grounds feature a 20m heated pool, an outdoor kitchen, a travellator accessing the whole property from street level to the beach and space for four cars.

Originally published as Is this Sydney’s biggest ever house price discount?