Inside the penthouse at One Barangaroo Crown residences in Sydney.
Photographer: Brent Lewin/BloombergOpen House: $59 Million Sydney Penthouse Gets Celebrity Realtor After Languishing on Market
The six-bedroom luxury apartment in One Barangaroo, a casino and hotel complex that was billionaire James Packer’s pet project, is struggling to sell after demand by wealthy Chinese plummeted.
Opulent, elevated, expensive. There are plenty of descriptive terms for the A$90 million ($59 million) home perched high in Crown Resorts Ltd.’s twisting skyscraper in Sydney. “Sold” is not one of them.
The chrome-heavy duplex has been on the market since at least 2021 when the 271-meter-tall One Barangaroo tower was completed. Conceived in an age when Chinese cash flooded the globe, elevating asset prices from Sydney to London, the property’s target market has all but disappeared as crackdowns by China’s President Xi Jinping cut the fortunes of the country’s elite and choked outflows.