Barangaroo penthouse mystery deepens after $80m sale twist

The biggest sale in the One Sydney Harbour building has yet to settle.

Now the adjacent Crown Barangaroo penthouse has finally sold, the focus seems set to shift back to the mystery sale of the One Sydney Harbour penthouse.

The One Sydney Harbour penthouse was exchanged in October 2019 for $140m plus, but it has yet to settle amid ongoing intrigue.

Construction of the 89-storey Renzo Piano-designed tower was initially scheduled for late 2023 completion, with developer Lendlease registering the slightly-delayed strata plan in February last year.

The highest registered purchase has been $38.95m to the Zhong family on the 76th floor.

Back in 2019 it was reported the buyer of the three-level penthouse was a local Australian resident from mainland China.

The One Sydney Harbour penthouse, designed by Renzo Piano Building Workshop, sits adjacent the Crown penthouse on the Sydney skyline.

So presumably no issue therefore in meeting any Foreign Investment Review Board requirements.

The lavish fit-out of the whopping 1980sq m could have understandably been delayed, but not by 16 months given Lendlease’s credentials.

Maybe the buyer is awaiting an auspicious day to settle, but The Sell senses settlement on apartment 88/88 Barangaroo Ave keeps getting pushed back.

Has Lawrence Myers’ rumoured purchase of a Barangaroo penthouse stuffed up the settlement for another luxe property next door?

The reports on Lawrence Myer’s 849sq m dual-level Crown penthouse purchase speculated it might have been offloaded in a “structured” deal at under $80m and possibly as low as $70m.

It is possible the discount secured by Myers, who is James Packer’s right hand man at Consolidated Press, on its initial $100m asking price, could potentially disrupt any financing still required for the One Sydney Harbour penthouse deal.

In 2019, Lendlease advised the deal included the penthouse and the sub-penthouse in one line.

James Packer has been heavily involved in the Barangaroo project.

The two-storey penthouse broke the $100,000 per square metre barrier, with the third floor forming part of the overall home, but also able to function as a separate residence.

In the meantime, after winning gold in the Australian Design Awards 2025, Lendlease elatedly announced that One Sydney Harbour recently won gold in the BETTER Future World Design Awards, a global recognition program.

Another Sydney penthouse, in the Sirius complex, is mooted for imminent sale, but at a lot less than its initial $50m price hopes.

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