Rundown Mosman mid-century apartment soars to $1.1 million at auction

An unliveable Sydney apartment “shell” has soared to a $1.1 million auction deal.

It provides an entry level into one of the city’s highest-end suburbs – Mosman. The median apartment price here has rocketed over the short and medium term.

The decades-old unit has the salubrious Sydney address and iconic views, with original features, and elbow grease required.

SOLD - $1,100,000

2/20 Somerset Street, Mosman NSW 2088

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In front of the block at 20 Somerset Street, a large crowd assembled to watch the deal get done.

A video of Bresic Whitney Inner East’s auction was shared by local news publication Mosman Collective, via a Facebook post.

Applause rang out as the hammer fell on the promising two-bedroom pad, which agents described on the listing: “A blank canvas ready to renovate, these striking mid-century elements would shine with a full refurbishment”.

The new owner can see the Sydney Harbour Bridge from the balcony.

Mid-century flair features in the building and the apartment’s original fixtures and fittings, showing it could be revived into a stylish bolthole, and speaking to its glory days.

The listing details that the apartment is a deceased estate, “ready for a new design”, and has a covetable north-west facing corner position in the “classic” building.

The boutique block has only eight apartments and is close to the local shopping village.

Agents Brigitte Blackman and Shabina Kamal inked the deal.

Mosman’s apartment median price is $1.36 million, Domain’s latest data shows. It represents a spike of 13.3 per cent over 12 months and 34 per cent over five years.

The sale contributed to Sydney’s clearance rate of 71.1 per cent, according to Domain figures. The median unit sale price in Sydney over the May 4 weekend of deals was $1,040,750.