Bondi block owned by childhood friends for 30+ years smashes price expectations

A rare Art Deco block of four apartments in the heart of North Bondi has smashed its expectations, selling under the hammer for $7.095 million. 

Driven by intense competition for the premium beachside offering, the result far exceeded the price guide of $5.75 million, with eight registered bidders vying for the chance to acquire the entire block.

Selling agent James Ledgerwood of McGrath Double Bay oversaw the high-stakes campaign. He spoke with realestate.com.au to unpack the factors that drove this extraordinary result.

The Property: A block of four Art Deco strata apartments (totalling 8 bedrooms, 4 bathrooms, 2 car spaces) at 6A Mitchell Street, North Bondi, NSW. It sold at auction for $7,095,000 on 29 November 2025.

Crucially, the block features two lock-up garages and is positioned between two popular cafes, just a short stroll from Bondi Beach.

Suburb snapshot: The median house price in North Bondi was $4.75 million as of October 2025 according to PropTrack. The median unit price was $1.65m.

What is the most interesting thing about this sale?

A classic North Bondi art-deco block of four large apartments in a premium location close to the beach, cafes and transportation – these types of opportunities are incredibly rare to the market. But, perhaps most interesting is that the block was purchased by four friends together over 30 years ago. All are still very close friends, and now was simply the right time to sell.

One said to me after the auction that it had been wonderful to own the block with his mates and it had been a great experience – not one argument about anything over the years – and they had enjoyed driving past knowing they owned it. It was definitely an emotional sale for them but they were all very happy with the result.

Were you surprised by the result?

Yes, the price was well above expectations. It seems the buyers had all held their cards close to their chests. We had expected four to six bidders, and on the day eight registered. There were four active bidders and 33 bids in total, kicking off at $5,600,000.

How long was the property on the market?

A normal four-week auction campaign.

What type of buyers did you see during the campaign?

We had over 70 groups inspect during the campaign and multiple contract holders. The buyers were predominantly Eastern Suburb locals. It was a mix of long-term investors and those considering renovating and on-selling.

Much of the strongest interest came from my personal list of buyers wanting to purchase close to Bondi Beach.

What was the feedback you received from potential buyers?

Buyers immediately saw the long-term investment value of an exceptional beachside opportunity that will always rent well given the apartment size and location.

What was the key factor that led to the final sale price?

Emotion, competition and opportunity. Well-maintained strata blocks of four apartments this close to the beach do not come on the market often, let alone with two garages and maintained in such good condition.

The opportunity created the competition amongst the buyers, and emotion drove the result. The highest bidders were all long-time locals and families wanting to invest close to home.

Predictions for this area?

North Bondi and Bondi Beach are constantly in hot demand. The continuing new development is improving the lifestyle offerings behind the surf and sand, with a big focus in the area on health and wellness and quality dining and retail. I can only see our beachside market continuing to go from strength to strength.

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