Palatial penthouse on Sydney’s north shore expected to break records
A landmark Mosman penthouse poised to set a new apartment record with its sweeping views, curated interiors and private wellness retreat.
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A palatial penthouse on Sydney’s Lower North Shore – complete with its own wellness studio – is set to smash the apartment record north of the bridge if it achieves its $30 million asking price.
It’s just a touch over the current local benchmark of $28.25 million with the recently reported sale of a house-sized apartment at Kurraba Residences in the little-known suburb of Kurraba Point.
The impressive price tag for the Mosman penthouse comes down to the vast 570sq m footprint of the yet-to-be-built residence atop the $200 million Amara project on bustling Military Rd in Mosman.
Developer Dare Property Group has engaged DKO Architecture to create the 26-residence block, with penthouse interiors curated by award-winning designer, Fiona Lynch.
Danny Avidan, founder of Dare, said the Amara penthouse reflects the culmination of carefully cultivating design-led living philosophies that prioritise wellness and quality.
“The Penthouse at Amara is an exercise in quiet luxury – a home that feels deeply personal, contemporary and enduring,” he said.
“Our vision has always been to deliver residences that go beyond aesthetics, creating spaces that nurture well-being and longevity. The Amara penthouse sets itself apart as a singular whole floor residence, with never to be built out views.”
The decadent five-bedroom home on the seventh level of Amara has a panoramic backdrop that extends from Sydney Harbour through the Heads to the Pacific Ocean horizon.
Curated with handpicked finishes, there are Travertine and solid oak floors, polished plaster walls and ceilings, with bronze Pittella door hardware and custom joinery.
The sophisticated kitchen features Wolf cooking appliances, Sub-Zero refrigerators and Blum hardware, while the five bathrooms each have Rogerseller fixtures, smart toilets, and natural stone surfaces.
Expansive sliding doors allow the living spaces to flow through to large terraces that capture the iconic views, bespoke landscaping, natural light and ocean breezes.
A major drawcard of the glamorous penthouse is also its private wellness retreat, a rare apartment inclusion that features a sauna and a yoga or pilates studio. Additionally, there is a unique wine display wall and parking for five cars.
Beyond the grand penthouse, Amara offers 7 two-bedroom and 18 three-bedroom homes, along with resident-only luxuries such as a discreet concierge service for home maintenance, car detailing, personal chef experiences, and wellness treatments. Even the lobby makes a great first impression with an artwork by artist Ben Mazey.
In Mosman’s evolving high street precinct, Amara will be home to a 1600 sq m public wellness and retail hub, promising to be the first of its kind for the affluent Lower North Shore suburb.
“There has never been a lifestyle-focused high street address in Mosman quite like this before,” Avidan added.
The project is within walking distance of Mosman’s designer boutiques, popular eateries, clifftop trails, Headland Park, Sirius Cove and Balmoral Beach.
Construction is scheduled to commence next year, with completion anticipated by the end of 2027.
The Amara Mosman penthouse display suite, located at 555 Military Rd, Mosman, is now available for private appointment through The Agency and Colliers.
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As interest rates, inflation and market sentiment fluctuate, investors are being urged to focus on data, not panic.
Australia’s housing affordability crisis is being fuelled by chronic undersupply, planning delays and rising development costs, as politicians continue to focus on the wrong solutions.
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Australia’s housing crisis will not be solved by first-home buyer incentives or tax changes alone, with leading property figures warning governments must tackle supply constraints if affordability is to improve.
Speaking at the Kanebridge Quarterly Property Leadership Summit in Sydney last week, expert project marketing specialist Sam Elbanna, property investor and fund manager Paul Miron and property consultant Karla McNeice said that a lack of housing supply remained the central issue facing the market.
Elbanna, Director of CPM Realty with more than 30 years’ experience in project sales, argued that successive governments had focused too heavily on stimulating demand rather than addressing the barriers preventing new housing from being delivered.
“The misconception is that politicians think the way to solve the housing crisis is to drive demand,” he said.
“The reality is that’s not the way. This is a supply-side problem, and it needs to be solved on the supply side.”
Drawing on his experience in project sales, Elbanna said policies designed to help first-home buyers often had unintended consequences, pointing to previous grants that ultimately flowed through to higher property prices.
Instead, he said developers were facing increasing red tape, approval delays and rising costs, which were discouraging new housing supply.
“In the absence of stock, demand exceeds supply,” he said.
Miron, a Co-Founder and Fund Manager of Msquared Capital, said the housing debate had become overly focused on tax policy while overlooking broader structural issues.
He argued that affordability challenges stemmed from a combination of factors, including planning constraints, supply shortages, migration levels and interest rates.
“No-one can be 100 per cent certain on the real reason for property prices is going up,” he said.
“The reason why property prices are higher is a combination of interest rates, lack of supply, migration, vacancy rates and maybe taxes play a role.”
Miron was critical of recent federal housing policy changes, warning they could reduce the number of new homes being built and further constrain supply that was even highlighted in the budget.
He also highlighted the importance of the property sector to the broader economy, noting that residential real estate and related industries employed more than one million Australians.
McNeice, who advises developers on sales strategy and market intelligence, said understanding buyers had become increasingly important as affordability pressures intensified.
While affordability remained a major consideration, she said today’s buyers were focused on value rather than simply price.
“People are looking for value for money,” she said.
She said buyers were increasingly evaluating factors such as transport connections, walkability, nearby amenities and flexible living spaces that could accommodate changing family needs.
“What infrastructure is going on? Can I walk to the shops? Can I meet people at the local cafe?” she said.
The panel also discussed the mounting pressures facing developers, with Elbanna arguing that many projects become financially unviable from the moment a site is purchased.
“The viability of a development happens at the moment the site is bought,” he said.
He said rising construction costs, higher interest rates and overly optimistic feasibility assumptions had left some developers exposed as market conditions changed.
While acknowledging the growing number of smaller and first-time developers entering the market, Elbanna said property development required expertise across finance, construction, marketing and legal disciplines.
“It is actually a business that requires a level of expertise,” he said.
Looking ahead, the panel agreed opportunities remained in the market despite current challenges.
Miron said property should continue to be viewed as a long-term investment and cautioned against trying to time short-term market movements.
McNeice said success would increasingly depend on identifying projects that genuinely met changing buyer expectations.
Elbanna said affordable housing remained achievable, but developers needed to deliver more than just homes.
“We can provide affordable housing in this country,” he said.
“But we’ve got to wrap that affordable housing with the things that people want.”
As Australia’s housing affordability debate intensifies, the panellists agreed on one point: without a meaningful increase in housing supply, demand-side measures alone are unlikely to solve the nation’s property challenges.
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