It is being marketed as "arguably the most desirable penthouse" on Newcastle's coastline and is expected to produce one of the biggest apartment sales for the city.
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PRD Newcastle and Lake Macquarie's Mark Kentwell, Jesse Wilton and Natalie Tonks have listed the luxurious three-bedroom, three-bathroom residence on the top floor of The York apartments overlooking Newcastle beach at 1201/61 Shortland Esplanade.
It is one of only two penthouses on the top floor and offers north, northeast and northwest aspects.
But Mr Kentwell says it is not just the 270-degree, panoramic views or the position that cannot be rivalled, he suggested the greatest appeal was that "there'll only ever be one".
The penthouse last traded in 2012, for $2.43 million, according to Australian Property Monitors data.
A price guide has not been disclosed but the Newcastle Herald believes this time around it is expected to reach $5 million or more.
"It's probably the most sought-after position of an apartment in Newcastle; it's a very rare spot," Mr Kentwell said.
"It's been eight years since it traded last. It might be another 10 years before it comes up again, or it might be never. Some of these style of apartments in Sydney, people hold them for generations.
"In those eight years Newcastle has become a completely different city. Now we've got a university in the city. We've got another one planned. We've got a light rail. All the new roads are done for Supercars, love it or hate it. The East End development is underway. There's been multiple sales above $4 million and $5 million in houses and apartments and we've been basically classed as a metropolitan city, whereas before that we were a coal and steel town with a mall that was dying."
The property has undergone an extensive, high-end refurbishment. It has floor-to-ceiling glass, views that take in Newcastle beach, Nobbys headland, the working harbour and Christ Church Cathedral. Balconies wrap around the house-like apartment, which offers almost 300 square metres of internal living space, and there is an indoor/outdoor area with an outdoor kitchen. It also has garaging for three vehicles. Inspections are only by appointment.
A penthouse in the new East End development sold off the plan in November 2017 for $6 million, smashing Newcastle's previous apartment price record. It was the amalgamation of three apartments comprising the entire top level of the Washington House complex on Hunter Street.
The previous record purchase for an apartment in Newcastle was $4.495 million, according to Australian Property Monitors data, paid in 2008 for a three-bedroom penthouse in the The Royal's McCaffrey Wing and also bought off the plan.
