Ruby penthouse

Double Bay record smashed with house-sized penthouse

As featured in The Australian Financial Review

In the news

A landmark Double Bay penthouse, has sold for about $50 million, clocking an apartment record for the salubrious suburb in Sydney’s east.

Known as the Ruby Penthouse, the residence spans more than 1000 square metres and crowns developer Fortis’ under-construction Ruby House, which is slated for completion early next year.

While the exact sale price is undisclosed, local real estate sources have tipped that a deal was inked for circa $50 million. Developer Fortis declined to discuss the buyer or price, but did confirm the sale.

With interiors by Melbourne architect Pete Kennon, the Ruby House penthouse is accessed by a private lift and features four ensuite bedrooms, two powder rooms and garaging for six cars, along with two north-facing terraces.

Other features include a grand dining room with three-metre-high vaulted plaster ceilings, a kitchen with a 6.3-metre limestone island and a La Cornue induction oven, and a drawing room with timber cabinets.

The north-facing master suite will feature polished Venetian plaster plus a French Oak dressing room, as well as a marble bathtub and two marble basins.

The expansive property sits atop Fortis’ under-construction mixed-use commercial project on the corner of New South Head Road and Bay Street, the same strip as Neil Perry’s dining institutions Margaret and Gran Torino.

If the rumoured $50 million sale price is confirmed at settlement, the penthouse sale roughly doubles the glitzy suburb’s $24.9 million apartment high set when the co-founder of Retail Apparel Group, Stephen Leibowitz and his wife, Pam, purchased the Ode project’s penthouse on nearby Cross Street off-the-plan in 2023. That nearing-completion luxury apartment block with downstairs retail was designed by architect Luigi Rosselli for developer Top Spring.

Before the hefty Ruby House deal, Fortis’ priciest residential deal was the $16.5 million sale of Woollahra Collection’s Ox House in 2023. Fortis is part of the Pallas Group, founded and run by directors Patrick Keenan, Dan Gallen, Mark Spring and Charles Mellick.

Launched in 2016, Pallas Group focuses on high-end commercial and residential projects, often funded by its sister company, Pallas Capital.

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