Fifty Two Black development offers a $10m penthouse in Melbourne’s Brighton

Featuring $1m in imported marble and an art deco chandelier, the Fifty Two Black development not only has a stunning penthouse, but short-stay rentals that will set you back a small fortune.

Several dwellings in a multimillion-dollar residential project in Melbourne’s up-market bayside Brighton, Fifty Two Black, are about to hit the market with the penthouse tipped to sell for $10m. Source: supplied

Several dwellings in a multimillion-dollar residential project in Melbourne’s up-market bayside Brighton, Fifty Two Black, are about to hit the market, with people having the chance to buy a $10m penthouse or lease a couple of three-bedroom properties.

Developer PB&Co has leasing expectations upwards of $5500 a night for the three-bedroom properties, while the building’s penthouse is set for sale with price hopes of $10m.

Fifty Two Black has three dwellings available for lease, while the 452sq m fully furnished Residence Two and 490sq m Penthouse are on the market for sale. If the penthouse achieves its $10m price tag, that would represent a price per square metre record for the bayside suburb.

The smaller residences are obviously designed to appeal to high-net-worth individuals, with short-stay rental prices expected to reach $5500 a night, while a 12-month lease is set to be priced at $8500 a week – 930 per cent more than Brighton’s current average apartment rental price, according to the developers.

Developer PB&Co has leasing expectations upwards of $5500 a night for the three-bedroom properties. Source: Supplied

Interiors were designed by New Yorker Meg Sharpe, and architecture is led by Nicholas Day Architects and New York’s award-winning Gregory Tuck.

More than $3m has been invested in bespoke interiors and furnishings across all five residences, as well as more than $1m worth of imported marble.

Fixtures include a Costera leather sofa designed by American Jason Chauncey, a hand-woven, 100 per cent silk pile rug and a 150cm art deco chandelier from lighting designer Ian K. Fowler.

The homes range from 293sq m to 490sq m, and each is fitted with three bedrooms, three bathrooms, two living areas, as well as three or four car spaces and generous terraces.

PB&Co president Michael Pesochinsky said it was welcoming guests into a fully immersive residential and lifestyle experience that was unlike anything else in Australia.

The homes range from 293sq m to 490sq m. Source: Supplied

“PB&Co’s brand vision is, and always has been, to facilitate effortless luxury and elevated experiences for our residents. At Fifty Two Black, we believe we have delivered a world-class project that will change how the Australian property market looks at real estate,” he said.

“The model blends the service and detail of a hotel, down to the bathrobes, stocked linen and even the crockery, all awaiting our clients’ arrival, with the design and quality of a global standard of residential property design.

“From the moment our residents arrive, Fifty Two Black is an immersive experience, captivating its visitors in a world of heightened grandeur and elegance that is defined by the hand-selected luxury detail afforded by the exquisite RH Contract furnishings.’’

However, Mr Pesochinsky conceded that the project did not come without its challenges, such as supply chain issues and material delays due to Covid-19.