Top Spring Australa’s Ode residential development in blue-chip Double Bay continues to appeal to ravenous downsizers with its latest penthouse sale attracting a $21.5 million price tag.

The 219sq m penthouse, with an upper level, and a private 111sq m rooftop terrace with a spa and landscaped entertaining spaces, was sold to a couple seeking to downsize from their five-bedroom harbourfront property in Sydney’s eastern suburbs.

It’s the third time the project has broken the previous suburb price record of $16.09 million with the adjoining penthouse selling off the plan for $24.9 million and a subpenthouse which sold for about $17.5 million. 

It’s a refinement of the developer’s focus, shifting from the high-density St Leonards area to a more luxury boutique residential offering. 

Top Spring Australia managing director Sydney Ma said the sale of the two penthouses to local buyers was “testament to its exceptional architecture and location, and its enduring contribution to the renaissance of Double Bay”.

“From its refined architecture, artwork and concierge service to the vibrancy of the custom interiors and ground floor retail spaces, Ode’s contribution ultimately extends beyond that of a residential experience, to a complete and unrivalled lifestyle experience,” Ma said.

▲ Top Spring Australia’s Ode development features 15 luxury apartments in blue-ribbon Double Bay, designed by Luigi Rosselli.

The corner site at 19-27 Cross Street directly links to local retail and dining offerings, and is close to beaches, parks and public spaces.

The penthouse comprises three bedrooms, three bathrooms, a media room and multiple living and dining zones. 

The five-storey development, designed by Luigi Rosselli Architects, comprises 15 three and four-bedroom apartments and 600sq m of ground floor retail space, most of which has been sold to leading Sydney restaurateurs.

Double Bay institution Indigo will move into 300sq m of Ode’s retail space and local fine dining offering, Carte has secured 137sq m of space with plans to relocate its modern art and fine-dining experience.

The remaining three-bedroom apartments start from $9.695 million, while the four-bedroom residences start from $11.995 million.

Demolition of the existing site began in September last year, with the main construction phase due to break ground in early 2023. 

Ode is scheduled for completion in early 2025.