John McGrath buys penthouse for record price

Australia’s best known real estate agent John McGrath has just bought himself a new luxury penthouse for himself with extraordinary 180-degree water views for a record-busting price.

The penthouse was snapped up for a record $4.12m at the February 1 auction.

Real estate guru John McGrath has bought his first apartment for himself since selling his $8.65m Walsh Bay penthouse in 2019, with plenty of room for his two sausage dogs.

The McGrath CEO and veteran real estate guru of 40 years has bought a luxury penthouse for a suburb record in an exclusive development with extraordinary 180-degree water views.

Naturally, he knows quality when he sees it — he’s paid $4.12m for the three-bedroom apartment in Cabarita’s exclusive Avista by respected developer Mirvac at a February 1 auction, multiple sources have confirmed.

That price smashes the previous apartment record in Cabarita of $4m set in September, 2021 for another penthouse nearby.

McGrath wasn’t present at the February 1 auction, but he had his former assistant, Aladdin Hassen, now a buyer’s agent, acting for his old boss.

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The open-plan living areas open to a huge terrace with amazing 180-degree water views.

The modern kitchen has premium finishes and appliances.

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It’s understood the guide had been in the high $3m range, there were multiple parties bidding and the result was considerably over the reserve.

The sources say Ed Riley was the auctioneer, but he had no comment when contacted.

The sales agent, Dib Chidiac, also didn’t want to comment on the purchaser, though confirmed the guide had been $3.7m.

Property records show the apartment last traded for $1.7m in 2007.

McGrath has been renting at nearby Breakfast Point since selling his Walsh Bay apartment for $8.65m to healthcare boss Jayne Shaw in 2019.

At the time, he said his next property purchase would be a house because he wanted two dogs. Although this is an apartment, it is pet friendly and described in the realestate.com.au ad as having “house-sized proportions” (263sqm) so plenty of room for his two sausage dogs.

John McGrath has been renting at nearby Breakfast Point since selling his Walsh Bay penthouse for about $8.5m in 2019. Picture: Julian Andrews

The apartment has three bedrooms, all with great views.

There are high-quality modern finishes and a great low-maintenance layout that’s ready to move into and enjoy.

It’s also quietly tucked away in a premium resort community just a short stroll to the harbourside foreshore, bus transport and Cabarita ferry wharf.

McGrath would have loved the single-level floorplan with excellent cross-ventilation, walls of glass that optimise light and the incredible views.

There’s a 58sqm terrace with room for a barbecue, plus a private central courtyard.

The modern streamlined kitchen has stone benches and premium appliances.

The three bedrooms all have built-in robes and open to the outdoors.

A home office has custom built-in shelving and ducted air-con, there are two security car spaces, lock-up storage plus convenient lift access.

The residents have the use of a swimming pool, gym and community room.

Originally published as John McGrath buys penthouse for record price