Downsizing retirees splash $40m in one day on Elizabeth Bay units

Two apartments worth a combined $40 million sold in one day to two downsizing parties from Sydney’s eastern suburbs.

Sold stickers went up on two listings at Billyard Avenue development in Elizabeth Bay – both four-bedroom, four-bathroom, house-sized units, on September 25. One sold for $20.5 million and the other for $19.5 million, both to retirees.

Jason Boon and Geoff Cox of Richardson & Wrench Elizabeth Bay and Potts Point sold both residences but could not divulge the buyers’ identities when contacted by this masthead. However, Boon did reveal they were corporate downsizers after a lifestyle change.

This masthead can reveal that one of the apartments was purchased by retired Macquarie banker Peter Maher. It will be left to settlement to reveal the buyer of the other apartment.

Maher is returning to the neighbourhood from the eastern suburbs, after Boon and Cox sold his Potts Point residence for $10 million in 2022. Maher also sold his Whale Beach house for $7 million in May this year.

Boon said demand for Elizabeth Bay was not driven by price point, as it has caught up to suburbs in Sydney’s east, but was down to its eclectic atmosphere, which reminded him of New York’s SoHo, and its proximity to hospitals, the beach and city.

The buyers will be neighbours with a bevy of corporate types who have bought into the complex including yachtie and vice president of the Australian Olympic Committee Matt Allen, Tina Green, the widow of hotelier Maurice Green, James Hawkins, and Chris Coudounaris, lawyer and former business associate of former Australian prime minister Paul Keating.

Developed by North East Corp and P3-Living and designed by SJB architects, the apartments reinterpret art deco design with their curved surfaces, and offer a modern palette with honed marble, fluted stone, patterned tiling, parquetry floors, statement lighting and expansive glass. There are multiple zones to entertain.

The development won the 2026 UDIA (Urban Development Institute of Australia) NSW Award for Excellence in Design.

Fancy Nathan Cleary as your landlord?

Nathan Cleary, star halfback at NRL club the Penrith Panthers and the winner of the 2026 Dally M Medal, has put his Curl Curl home on the rental market, months after purchasing it for $5.5 million.

Settlement documents show Cleary paid the figure in June to children’s charity Stewart House, after the property was sold in April. He is the sole owner.

Listed as a rental, available for $2350 per week with bond set at $9400, the cottage is now configured as a three-bedroom, one-bathroom house. At the time of purchase, it had four bedrooms, one bathroom and dated interiors.

Cleary has since transformed the interiors with new floorboards, a fresh lick of paint, a brand-new kitchen and an updated bathroom.

There is a multipurpose space that could be made into a home office, gym, teen retreat or man cave, and ocean views from the balcony, and the beach is a stroll away.

Linda Nero and Bernadette Broadman of Belle Property Northern Beaches were unable to comment on any aspect of the listing or interest shown in the property.

Paul Franks of Area Specialist, who sold the residence to Cleary, also declined to comment on any aspect of the sale.

Records show Cleary also owns a four-bedroom, two-bathroom home at Leonay, at the foot of the Blue Mountains. He purchased the property from his father, Penrith Panthers head coach Ivan Cleary, for $1.7 million in 2022.

Nathan underwent surgery after suffering a double compound fracture in his left leg as a result of a hip-drop tackle by the Newcastle Knights’ Phoenix Crossland in the preliminary final game.

Over in Point Piper…

The deceased estate of the late Muriel Balkin on prized Wolseley Road in Point Piper has hit the market with a price guide of $50 million.

Configured as three interconnecting apartments with a total of eight bedrooms and six bathrooms, it could be retained as a multigenerational family estate.

Balkin’s son Richard Balkin, who has worked in real estate, told this masthead he hoped the property would not be knocked down, and another family would live there for another 40 years or so.

Interiors feature marble detail, oak floors and an overall white palette, and there are terraces with stunning views over the harbour at Double Bay to Redleaf Pool and the city skyline.

Richard noted the property’s exclusive location in a prized pocket. It is on the corner of Wolseley Road and Wingadal Place, with additional access via Wingadal Place.

Muriel’s neighbour was Aussie Home Loans founder John Symond. As previously reported by this masthead, the site of Symond’s home – most recently offered with $200 million-plus price hopes – once boasted a landmark doughnut-shaped house designed by late architect Guilford Bell in 1956 for the Hordern retail dynasty.

Symond’s block was later owned by high-profile corporate identities like the late New Zealand pulp and paper magnate John Spencer, fellow Kiwi businessman Christopher Huljich and property investor, Rich Lister and confidant of the late Kerry Packer, Robert Whyte.

The landmark house was demolished in the 1990s and sold as land to Symond for $10.85 million in 1999. Architect Alexander Tzannes designed Symond’s new home.

Pillinger’s Brad Pillinger is accepting expressions of interest for the deceased estate.