Manly apartment in Dungowan sells $2m over guide at auction

24/7 South Steyne, Manly has sold for $10m at auction.

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Manly saw its first double-digit million-dollar sale of the year last night when a beachfront penthouse went $2m above its guide at auction.

The three-bedroom apartment in the landmark Dungowan block had an $8m guide, but at the in-rooms auction bidding opened at just above $8m and kept climbing in $100,000 and $200,000 increments.

There were four or five people competing initially but three people were the most prominent and after some spirited bidding the hammer fell squarely on $10m.

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No wonder it was popular.

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Impressive interiors and great views.

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The Dungowan block, on South Steyne, was built in 1919 in the style of Florentine Renaissance and still retains much of that grandeur.

However owners joined together in 2010 to bring the building up to date with access and lifts and parking and in the process added two side-by-side penthouses.

It was the north-western corner penthouse that sold.

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When it was first listed agent Anthony Calacoci, of Belle Property Manly, said the apartment was the most sought-after beachfront spot in Manly, in the southern corner of the beach and close to everything.

He couldn’t comment on the sale but $10m for a 204sqm apartment on the sixth floor is a big result for Manly.