The buyer snapped up the three-bedroom pad four years ago for $2.325 million – the bargain price reflecting the financial risk of taking on a property that was in the midst of a costly remediation.<\/p>\n
Now that the recladding work has been completed, the owner is selling up, listing the penthouse for $3.695m<\/a>.<\/p>\n Ray White listing agent Ross Tierney notes that the building was fully reclad in 2022 with modern Alucobond aluminium cladding, new double-glazed joinery, and upgraded to meet the latest building standards. It received a new Code Compliance Certificate in 2023.<\/p>\n The interiors have benefited from high-quality renovation. Photo \/ Supplied<\/p>\n \u201cThe new owner walks in the door and doesn’t have to worry about any of that sort of stuff,” Tierney told OneRoof. <\/p>\n \u201cThe building itself is tickety-boo.\u201d The interiors boast European oak floors, granite tiles, ducted 4-zone air-conditioning, and top-of-the-line Miele appliances, a 180-bottle wine fridge, and the building has a full-size tennis court, swimming pool, spa, and gym. <\/p>\n Tierney said the Byron Avenue penthouse was comparable to luxury pads in the neighbouring Sentinel. \u201cRecent sales in the Sentinel have come in at $3.3m and $4.25m. We appraised this property using those apartments, factoring in the remediation and renovations. That\u2019s how we got to $3.695m. <\/p>\n Discover more:<\/p>\n – Developer spares award-winning trophy home – ‘far too good to remove’<\/a><\/p>\n – Seascape penthouse has sold, but buyer hasn’t decided what they’re going to pay<\/a><\/p>\n – ‘Owner wants out’: Freemans Bay apartment selling with $20,000 auction reserve<\/a><\/p>\n \u201cIt has been completely redone. It’s minimalist; a very nice fit out. But the real X factor in this apartment, and why the owner bought it, is its orientation. There are other penthouses in the building, but this one is arguably the best. You can see all of Rangitoto, Waiheke, Tiritiri Matangi, all the islands in the Hauraki Gulf. Floor-to-ceiling glass of four-metre stud height. Every room has this amazing view.\u201d<\/p>\n Tierney said the owner took a punt on the penthouse when he bought it. \u201cMy vendor bought it knowing he wouldn’t be able to live in it for about two years until the reclad was complete. That\u2019s part of why he got it at a discount. <\/p>\n The view from the penthouse is stunning, and, according to the agent, the best in the building. Photo \/ Supplied<\/p>\n Spencer on Byron during its remediation. Photo \/ Dean Purcell<\/p>\n \u201cIt was a leaky building. He took a punt that everything would be done on time, which isn\u2019t always guaranteed. There was a six-month delay on the penthouse windows. Holding costs were significant, too. It was a big risk. Now it\u2019s amazing inside, and the building\u2019s done, and the CCC issued. The new owner walks in without worrying about anything else.\u201d <\/p>\n Construction firm Brosnan did the work to replace cladding, waterproof membranes, redecorate interiors, upgrade the tennis court, and refurbish the pool and spa areas. The previous owner paid the apartment\u2019s share of remediation costs, and the current owner paid the interior renovation costs. <\/p>\n Tierney said his client, who lives in the apartment as an owner-occupier, was selling to move over the bridge. <\/p>\n Another three-bedroom penthouse pad in the building is also up for grabs<\/a>. 20C is listed with Premium agent Alison Parker and offers 200sqm of living with views out to the city and the Harbour Bridge. The property has a set sale date of October 1. <\/p>\n![\"The](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2025\/09\/f61298a293e91afe5834b89a0176cb31.jpg\")
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