Level 33 resets Kiama apartment price record with $6 million ELAN penthouse sale

Developer-builder Level 33 has achieved a new benchmark in Kiama’s prestige property market, securing a record-setting $6 million sale of the penthouse at its boutique Elan Kiama development. The result establishes a new apartment price record for Kiama.

A new benchmark for Kiama apartment living

Perched on one of the highest points in Kiama, Elan captures uninterrupted ocean views and represents one of the South Coast’s rare boutique apartment offerings. Designed by award-winning PBD Architects, the development comprises just 19 three-bedroom residences and a single full-floor penthouse.

Located in the heart of Kiama, Elan places residents within walking distance of Surf Beach, Kendall Beach, the town centre, boutique shopping and the harbour, offering a low-maintenance lifestyle in one of New South Wales’ most tightly held coastal communities.

Record-breaking penthouse reflects demand for luxury coastal apartments

The record-setting penthouse spans 468 sqm and features three bedrooms, a study, ensuites to every bedroom, a powder room, butler’s pantry, walk-in laundry, built-in bar, fireplace and a sculptural Taj Mahal stone kitchen island complemented by premium Gaggenau appliances.

The residence also includes three balconies, one exceptionally large entertaining terrace and a private plunge pool, maximising the uninterrupted coastal outlook.

The purchasers, a local couple who have lived in Kiama for the past decade, said the apartment offered the opportunity to downsize without leaving the lifestyle they love.

“It’s a lifestyle choice. We’re downsizing with elegance,” one of the purchasers said.

“We actually saw the advertising for Elan and where they were building while walking past. We then ran into the agent in town and arranged to meet.

“It had to be oceanfront. We currently live in a large coastal home with ocean and mountain views, and we wanted to keep that connection to the coastline.”

Why long-time locals chose Elan Kiama

The purchasers said Kiama’s lifestyle, community and natural beauty made the decision an easy one.

“The magnificent views, the sense of community and the people here make Kiama truly special. It’s a welcoming, caring place. It’s a busy coastal town, but it’s still small.

“We have access to everything we need nearby in Shellharbour, but Kiama itself has so much natural beauty, from the ocean views and lighthouse to the harbour, whales and mountains.”

They said the architecture and attention to detail also separated Elan from every other apartment development they inspected.

“We loved the architecture, the beautiful curves and the modern finishes, particularly the Gaggenau appliances. We looked at other properties, but nothing compared to it. It was perfect. It ticked all our boxes.”

The couple, who own a business in the Riverina, are looking forward to entertaining friends, family and grandchildren in their new home.

“It’s large enough to fit all of us.”

Level 33 focused on boutique, owner-occupier living

Level 33 Founding Managing Director Eddy Haddad said the record sale reflected the company’s commitment to delivering homes designed for long-term owner-occupiers.

“From day one, the focus has been on delivering a building with exceptional design, quality finishes and homes that people genuinely want to live in.

“Seeing that excitement reflected in our future residents is what drives us, and it’s rewarding to know people share the same vision and appreciation for the quality we’ve worked so hard to deliver.

“We believe this will be a building with a real sense of community, where residents feel proud to call it home for years to come.”

The 1860s Darlinghurst mansion Stoneleigh could become Sydney’s most expensive home ever sold under the hammer when it goes to auction.

Clint Ballard is giving buyers a $28 million guide for the heritage-listed mansion on Darley Street, opposite Iona, the former home of Hollywood royalty Baz Luhrmann.

Stoneleigh is being offered for sale for the first time in 36 years. The home is owned by jeweller Vanessa Wong, who took the keys in 2016, after the Wong family paid $3.18 million in 1990. Wong renovated the home shortly after taking ownership, adding a pool to its 650 sqm grounds.

A Landmark on the Heritage Register

‘Stoneleigh’ is recognised on the NSW State Heritage Register for its architectural elegance and historical significance, and remains a defining presence within the tightly held Darlinghurst Ridge heritage precinct, an enclave prized for its concentration of intact colonial and Victorian-era residences just minutes from the CBD.

While the bones of the home date to 1860, its current form reflects a considered architectural transformation by Brian Hess, with landscaping by Dangar Barin Smith, that reconciles the villa’s historic fabric with the demands of contemporary living.

Stoneleigh was added to the State Heritage Register in 1999. It features a hipped corrugated steel roof, a bank of 12 paned timber framed double hung windows to the first floor, and arched colonnade to the ground floor, all set behind a Victorian cast iron palisade fence and colonnade extends around one side of the building.

Two of its previous owners have included Richard Jones, who was Chairman of the Commercial Banking Company of Sydney and the founder of the Maitland Mercury newspaper. He owned the home for around two decades from 1870. From the mid-1890s, J. Russell French, who was General Manager of the Bank of New South Wales, had the keys.

Grand Interiors, Resort-Style Grounds

Inside, the home unfolds across multiple levels, anchored by a statement marble kitchen with integrated dining that flows into expansive formal and informal living zones. These spaces open out to a private terrace and tropical gardens, blurring the line between indoor and outdoor living in a way that’s become the calling card of Sydney’s top-tier renovations.

The outdoor offering is a standout in its own right: a 3-metre-deep mineral pool with geothermal heating anchors a resort-style entertaining garden designed for year-round use, an increasingly sought-after feature among buyers at the top of the market.

Accommodation is generous with six bedrooms in total. There are two master suites, including a primary retreat built around a Japanese Hinoki bath, along with additional bedrooms, terraces and substantial storage, a rare inclusion in an inner-city heritage home of this era.

Finishes throughout run to French Oak flooring, hand-applied Marrakech plaster walls, bespoke lighting by Michael Anastassiades and a Stuv fireplace, all supported by advanced geothermal climate control, ducted air conditioning and a full security system. A cellar on the lower ground floor houses a functioning heritage well, a genuinely rare survivor that underscores just how much of the property’s 19th-century character has been preserved.

Perhaps most notably for an inner-city heritage property, ‘Stoneleigh’ offers secure parking for up to five vehicles, a feature agents will no doubt lean on heavily, given how scarce multi-car garaging is within walking distance of the city.

Key Features

Architecturally redesigned by Brian Hess with landscaping by Dangar Barin Smith
Landmark c.1860 Victorian Regency residence with a refined contemporary transformation
Resort-style outdoor living with mineral pool, geothermal heating and tropical gardens
Designer marble kitchen with integrated dining and Sub-Zero, Wolf and Miele appliances
Multiple formal and informal living zones flowing to an outdoor entertaining terrace
Two master suites, including a primary retreat with a Japanese Hinoki bath, plus additional bedrooms
French Oak flooring, Marrakech plaster finishes and bespoke lighting throughout
Advanced geothermal heating/cooling, ducted air conditioning and full security system
Stuv fireplace, Michael Anastassiades lighting, retractable awnings
Secure parking for up to five vehicles — a rare inner-city offering
Level walk to fine dining, bars, cafes and train stations; 2km to the CBD
Moments from some of Sydney’s finest schools, including Ascham, SCEGGS and Sydney Grammar

A New Record?

The highest price ever paid for a residential house sold under the hammer in Sydney is $24.6 million, for a home in Vaucluse in September 2020.

Bidding opened at $13 million for the 1,085-square-metre block against an $11 million price guide, and the hammer fell at $24.6 million — well above the $14 million reserve. A young Australian-Chinese couple who’d never bid at auction before walkedaway with the keys. That result broke the previous auction record of $23 million, set by media scion Lachlan Murdoch’s purchase of the Bellevue Hill mansion “Le Manoir” in 2009.

Late last year, Iona, across the road from Stoneleigh, sold by private treaty for $37.5 million. It was bought by Bryant Stokes, son of the billionaire Channel 7 chairman Kerry Stokes, and his wife Dominique. It was sold by investment banker Tim Eustace and his partner Salvador Panui, who bought it from film director Baz Luhrmann for $16 million in 2015.