Ian Qiu’s Success Story – 1601/21 Cadigal Avenue, Pyrmont

Sold 18th February 2023 | by Ian Qiu

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In the dynamic landscape of Jacksons Landing Pyrmont, Ian Qiu had the captivating sale of penthouse 1601/21 Cadigal Avenue. The buyer's testimonial underlines Ian’s expertise and meticulous attention, emphasising the significant impact of his dedication to showcasing the property's unique qualities and facilitating a transparent auction process. Similarly, the vendor's testimonial acknowledges Ian’s strategic approach and unwavering commitment to enhancing the property's presentation, ultimately resulting in an exceptional outcome and a record-breaking sale for McCafferys Tower.

46

Groups inspected

32

Days on Market

9

Contracts issued

105

Enquiries

The unique aspects of the sale process were marked by the property's status as a deceased estate/mortgagee sale. Ian’s strategic approach focused on detailed enhancements, gaining trustee approval for improvements such as carpet replacement, kitchen upgrades, and a full-scale painting. While the kitchen and bathrooms retained their original condition, these cosmetic upgrades allowed potential buyers to fully appreciate the penthouse's unique attributes.

Offered for the first time in almost two decades, the property boasted exclusive features as one of two penthouses in the building. Its top-floor, prime north-east corner position offered incredible views over the city, Harbour Bridge, and surroundings. With only two apartments per floor and a 70% owner occupier rate in the building, the penthouse's uninterrupted 270-degree views were appreciated from every room.

A strategic auction sale, recommended by Ian, generated over 75 groups during the four-week campaign. With a buyer's guide of $5,800,000, the property went under the hammer on the fifth Saturday, fostering engagement with four contract holders. The heightened buyer competition resulted in a sale almost $800,000 over the reserve, setting a new building record.

The property spent 32 days on the market, highlighting the effectiveness of Ian’s campaign and the appeal generated through the strategic enhancements. The sale, categorised as a Trustee Sale, added another layer of complexity that Ian navigated successfully, showcasing his ability to handle unique family circumstances.

Ian Qiu

Sales Executive