North Bondi one-bedder sells for ‘mind-boggling’ price

A tiny North Bondi unit just 32sqm in size, has been sold for an incredible record price for one rather obscure reason.

A North Bondi one-bedder has sold for a ‘mind-boggling’ record price.

The 32sqm space — with its extremely rare freestanding garage — at 12A/77 Ramsgate Ave on exclusive Ben Buckler Point sold ahead of tomorrow’s scheduled auction for about $2.5m.

A North Bondi local called in with the price, that the whole neighbourhood is talking about. “It’s just mind-boggling. it’s just such a tiny apartment … you couldn’t give these away back in the day!” the insider said, who has lived nearby for decades.

The deal was done late Thursday night. The insider speculated that it had been snapped up by a neighbour who didn’t currently have off-street parking.

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The apartment doesn’t have a beach view.

But this feature is even rarer than a beach view in North Bondi.

When contacted, the Raine and Horne Double Bay selling agent Christophe Serrao, who shared the listing his dad, Ric Serrao, said he couldn’t discuss the result due to a non-disclosure agreement, but confirmed it had sold.

“We had 32 contracts out on it in the end,” he said.

The same agents had sold a similar one-bedder in the block, with a view of the water but no garage (or off-street parking) for a record $2.32m in February.

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Beachside vibes.

That had had had a $1m price guide.

The most recent listing had been harder to price, as it didn’t have a view of the water but came with the rare garage.

Last week, Christophe had said: “It’s the closest private garage this close to the sand … an apartment with a garage here is rarer than a beach view.”

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The kitchen is very basic, but neat.

There’s just one bedroom.

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When first listed, the guide was $1.5m, based on two other one-bedders close by in the block of 15 that sold recently for $1.45m each, though they didn’t have the garage or even off-street parking.

Christophe upped the guide to $1.7m after an offer.

The community title property is owned by Jamie and Sky Mackay, who bought four apartments on the top floor, which came with three garages, through the Serraos for $9.9m 11 years ago.

They then combined the four apartments to create one huge penthouse, and have now opted to sell the one-bedder downstairs and one of the garages.

Prime location.

He reckons the penthouse alone could now be worth about $40m.

The Mackays are the only owners with garages but Christophe had said just two of the other owners, mostly investors, have taken contracts.

“Most of the others who are interested are locals nearby who currently don’t have parking but also some from elsewhere, Vaucluse and overseas,” he’d said.

He estimated the apartment would rent out for between $1200-$1300 per week and the garage $250-$300 per week.

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