Wealthy car importer Neville Crichton and his wife Nadi have reportedly secured the most expensive home ever sold outside the Sydney city centre by purchasing a sprawling $50 million penthouse in the heart of Double Bay.
A New Era for the Neighbourhood
The off-the-plan sale of the Ruby House penthouse completely rewrites the rules for local real estate, essentially doubling the previous apartment record for the glitzy downsizer suburb. That prior high mark was set when Retail Apparel Group co-founder Stephen Leibowitz and his wife Pam bought into the nearby Ode project in 2023. At roughly $50 million, this latest purchase easily lands a spot on the top ten list of Sydney’s most expensive apartment sales.
The massive deal marks a major shift for the eastern suburbs community, proving that the tree-lined streets of the village are now attracting the kind of mega-wealth normally reserved for large waterfront mansions or high-rise towers in the main business district.
Inside the Massive Sky Home
Sitting high above the corner of New South Head Road and Bay Street, the property covers more than 1,000 square metres of total space, with 550 square metres dedicated to the inside living areas. Melbourne architect Pete Kennon designed the four-bedroom, four-bathroom layout to include a grand dining room with high vaulted plaster ceilings and a drawing room lined with custom timber cabinets.
The kitchen is built around a massive 6.3-metre limestone bench and features top-tier cooking equipment. The main bedroom faces north and comes with a French oak dressing room, along with a marble bathtub and twin basins. The luxury extends outside with two huge north-facing terraces landscaped by Wyer and Co, topped off by a private rooftop swimming pool and entertaining gardens.
Local Ties and Deep Pockets
The mystery buyers are no strangers to the exclusive eastern suburbs lifestyle. Real estate sources point to the New Zealand-born businessman and his wife, who already live nearby in a waterfront home in Point Piper. The yachting enthusiast even confirmed he had looked at the Double Bay property while chatting with locals at a recent gathering at the Prince Edward Yacht Club.
He currently owns a designer beachfront house next door to former political figures, which he bought several years ago and has quietly tried to sell off-market. The massive penthouse comes with a private lift and a six-car garage, allowing the buyers to stay close to the harbour while downsizing from a traditional house.
The Developers Behind the Build
Developer Fortis is building the mixed-use commercial and residential complex, which sits on the same street as popular local dining spots. Fortis representatives noted that they worked with top-tier project partners to create what they firmly believe is the finest home ever produced in the wealthy suburb.
The developer, part of the Pallas Group run by directors including Patrick Keenan and Dan Gallen, has focused heavily on high-end local projects. Their previous top residential sale was a $16.5 million property in Woollahra. The company expects the entire Ruby House project to be finished and ready for its new owners early next year.
Published Date 26-May-2026
