Add Category![The Dixon Tama for Wentworth Courier](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 1280 720"%3E%3C/svg%3E)
Artist’s impression of the terrace at The Dixon penthouse in Tamarama.
Tamarama is home to a showstopping new apartment price record after Gavin Rubinstein from TRG sold The Dixon penthouse at 5 Pacific Ave for “circa $20m”.
Prior to last week’s sale, the record for a unit in ‘Glamarama’ was set two years ago when Travelogic co-founder Craig Smith paid $17m for a 175sq m penthouse in the Kalypso building on Fletcher St.
The Dixon, a luxury development by STM Realty, launched to market in April and will include just four full-floor residences designed by Mark Shapiro Architects with interiors by Jessica Enander Dunne. Due for completion in 2026, it will have a front-row position facing Tamarama Beach.
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![The Dixon Tama for Wentworth Courier](data:image/svg+xml,%3Csvg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 768 1024"%3E%3C/svg%3E)
The Dixon is due for completion in 2026.
The two-storey penthouse will offer 291sq m of internal living space including three bedrooms, three bathrooms, a large 135sq m terrace, an internal lift and two car spaces with storage.
“I’ve also just sold the garden floor unit for around $14m with a pool on title and about 200sq m internally. The building is half sold out in eight weeks for around $70,000/sq m,” says Rubinstein.
“The incredible thing is The Dixon hasn’t even started construction yet, that begins in August.
The penthouse has stunning views.
“So, to sell those sorts of numbers without even putting a shovel in the ground goes to show demand out there.
“The good news is we’ve still got two left, a ground-floor unit and the subpenthouse.”
Rubinstein says the results have capped off a hot autumn season for himself and the TRG team.
“In May, we transacted over $160m worth of real estate in the east,” he says.
“Myself, Oliver Lavers and Cae Thomas have had, respectively, an off-market sale for around $15m, one in the mid-to-high $15m range, and another at $16m in the last week in Bellevue Hill.”
He adds that the TRG May total also includes $25m in sales by Zac Rabin and Mark Lowe of the Woollahra TRG team achieved $20m.