Waterfront house in Castlecrag threatens to break Sydney suburb record with $28 million price hopes

A luxury Sydney home for sale is all about grandeur – including the price tag.

The five-bedroom, seven-bathroom waterfront mansion at 304 Edinburgh Road in Castlecrag could break the suburb record.

Monika Tu, who holds the listing and is the lead agent alongside Jad Khattar and Maylin Liu of Black Diamondz Property Concierge, confirms price hopes are $28 million.

This figure would surpass the previous record of $23.5 million in 2022 with the sale of Transurban chief executive Scott Charlton’s waterfront home.

$28m

304 Edinburgh Road, Castlecrag NSW 2068

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Castlecrag is a leafy suburb on the lower north shore of Sydney, 8km from the CBD, and was named the second-most popular suburb of New South Wales.

Domain’s End of Year Wrap for 2022 ranked Castlecrag in the top 10 suburbs nationally based on the highest views per listing.

Castlecrag was the second-most sought after in New South Wales behind Birchgrove. In fifth spot was Point Piper, which is currently home to the most expensive house in Australia.

The baronial-style trophy estate called Uig Lodge on Wentworth Place transacted in 2022 for $130 million. Built in about 1900, the manor was purchased by Atlassian billionaire Scott Farquhar.

The Castlecrag property for sale is brand new and is described on the listing as “offering a paradise of executive opulence”.

Designed by Alchemy Architecture with interiors by MXM Design Studios, the mansion occupies four levels with uninterrupted views across Middle Harbour.

A focal point is the helical Venetian plaster staircase that presents itself as a work of art.

The kitchen is a mix of style and function with top-notch Gaggenau appliances and striking black marble detail.

A barbecue entertainer’s terrace, pool, custom-made sauna, games room, gym and boat shed round off the property’s standout features.

There aren’t enough sales over the past 12 months for Domain to obtain a median house price for the suburb.

However, Domain’s House Price Report for the December 2023 quarter reveals Sydney’s median house price has reached a new peak of $1.6m.

The city’s median house price rose by 10.3 per cent last year, surpassing its previous peak last December.