Luxury penthouse in Sydney finds buyer after massive discount

After years on the market, the Sydney property market’s crown jewel appears to have finally found a buyer.

Jonathan Chancellor

less than 2 min read

June 9, 2025 - 1:54PM

After years on the market, the Sydney property market’s crown jewel appears to have finally found a buyer.

US private equity giant Blackstone are understood to be hoping the prestigious 849 sqm Crown One Barangaroo penthouse will be sold before the end of the financial year, perhaps even announced any day now.

The keenest buyer interest for the six-bedroom, eight-bathroom space has come from Sydney’s east, rather than any elusive buyer from China.

Its official price has sat since last August at $90m, down from the initial $100m in 2019, but the recent lowball offers have been at below $80m.

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One Barangaroo – Penthouse Master Bedroom. Supplied

The $80 million penthouse in Crown’s One Barangaroo tower is close to sale.

The listing agents have been told to try harder to sell the dual-level residence that spans the 81st and 82nd levels, with bespoke finishes by Meyer Davis Studio of New York.

Agents got close to a sale in 2022, but James Packer’s $72,229,573 mid-tower, two floor off the plan purchase in 2017 remains the building’s highest.

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Packer has a penthouse on the 48th and 49th floors.

From its spacious formal spaces that boast a roaring fireplace and expansive wine wall to two professional kitchens, every detail has been meticulously crafted.

While its exterior is stunning from afar, local interior designers complain the building’s complex geometry, including a 60-degree twist and helical columns, have made decor fit-outs very challenging.