If there’s one home we’ve seen lately that is just begging to throw a cocktail party it’s this place. 

And why wouldn’t you want to celebrate as you take in the million-dollar views across Sydney’s Elizabeth Bay towards North Head from your fabulous two-level penthouse?

This epic penthouse is a perfect setting for entertaining friends. Picture: realestate.com.au/buy

The three-bedroom, three-bathroom home, on the market for $5.8m, complete with rooftop entertaining deck and wet bar is definitely one for those that love to entertain.

Spanning the entire width of the building, this timber-clad penthouse at 22/14-16 Onslow Avenue celebrates its heritage with fastidiously-preserved custom 70s joinery. 

The home is decked out in timber joinery. Picture: realestate.com.au/buy

The outside areas are generous with a rooftop garden and 22sqm glass-wrapped balcony on the lower level.

The luxurious spaces are designed to impress, from the marble flooring to the stone and steel kitchen, not to mention the Japanese-style bath and monsoon shower.

Take the full tour in our gallery:

Stunning Sydney penthouse

A rooftop deck like this doesn't get much better. Picture: realestate.com.au/buy

The home is decked out in timber joinery. Picture: realestate.com.au/buy

You've got the best seat in the house for Sydney's water views. Picture: realestate.com.au/buy

A sublime floating staircase. Picture: realestate.com.au/buy

The master bedroom has its own water view. Picture: realestate.com.au/buy

This epic penthouse is a perfect setting for entertaining friends. Picture: realestate.com.au/buy

The kitchen is perfect for throwing an epic party. Picture: realestate.com.au/buy

This apartment is on the market with a price guide of $5,250,000 and while the median price for a three-bedroom unit in this area is $3,900,00 – few could have such impressive views.

While you may not want to leave this heavenly Sydney pad, some of the some the best coffee shops, bars and restaurants can be found in nearby Potts Point and Woolloomooloo.

We’re convinced it’s the perfect setting for a Mad Men-style party, where the cocktails are flowing and the outfits are loud.