- The penthouse at 22 Karori has sold for around $17m, breaking the NZ record for apartments.
- Another apartment in the same block was bought for just over $10m.
- Four more apartments are available, priced between $11m and $12m.
An off-market deal for a luxury penthouse overlooking Waitematā Harbour appears to have smashed New Zealand’s apartment sale price record.
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OneRoof can reveal that the top floor of the newly completed boutique development 22 Karori, in the rich-lister Auckland suburb of Orakei, has been picked up for around $17 million.
Another apartment in the same block has also been bought for just over $10m, with the developer telling OneRoof he has four properties left for sale in the $11m to $12m price range.
The luxury six-apartment block at 22 Karori has four apartments still up for grabs. Photo / Supplied
Mike Sullivan, director of the developers Countrywide Properties, told OneRoof the apartments were bought off-the-plan. He declined to disclose the identity of the buyers.
A sale price of around $17m is likely to eclipse the $16.5m record price achieved by the penthouse of the Elm, another Countrywide development on Remuera’s Orakei Road.
OneRoof reported a $17m off-the-plan sale of an apartment in the Victoria Lane development on Remuera’s Victoria Avenue in 2022 but the sale has yet to appear in public records.
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Sullivan built 22 Karori after purchasing two neighbouring properties on Karori Crescent for around $8m. Construction on the development started in 2022 and Countrywide is only just bringing the remaining four apartments to market.
“We really wanted to complete it before we took it to market. It’s a really high-end, beautiful product and we wanted people to see it in all its glory, rather than off-the-plan,” Sullivan told OneRoof.
Caitlin Kastner, Countrywide’s sales and marketing manager, said the four apartments boasted the same floor plan and views, but the two on the ground floor came with lawns and gardens.
22 Karori’s apartments have views across to Okahu Bay. Photo / Supplied
Countrywide has just completed the $15m sale of one of the penthouse apartments in One Saint Stephens, in Parnell, which it built in partnership with Experiences by Coopers.
Sullivan said there were two apartments still available for sale in the luxury block: another penthouse, which is looking for $15m, and an apartment looking for $8m.
“We originally had a much larger penthouse on the front and then decided that $22m to $23m was a bit on the high side. There are not many buyers [in that price bracket] so we split it,” Sullivan said.
“People struggle a bit to get their minds around the value of an apartments versus a big house. The reality is they offer so much more. The beauty of a block of six [like 22 Karori] is that it’s got a very small body corporate – people like that.”
To date, those expressing interest in 22 Karori have been locals, downsizers from Auckland’s eastern bays looking for a lock-and-leave lifestyle.
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