Luna Park rides force Big Dip in sale price

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PHOTO: Luna Park’s new rides are the reason an apartment sold for less than two years ago.

Nine new rides at Luna Park are being blamed for a Milsons Point unit selling for $200,000 less than its sale price two years ago.

The luxury three-bedroom apartment at 3a/6 Cliff St, less than 100m from the edge of the fairground, had a guide of $8m and has just sold for $7.8m.

It last traded in August 2020 for $8m.

Agent Nigel Mukhi, of Di Jones Neutral Bay, said three buyers were interested in the expansive apartment with amazing views in The Cavill in the heart of Milsons Point.

3A/6 Cliff St, Milsons Point, has just sold for $7.8m.

But it was the knowledge that nine new rides had been added to Luna Park rather than a change in the overall market that influenced the sales result.

“Not that the rides make that much difference,” he said.

And interestingly, the buyers already know and appreciate the location as they have been renting in the prestige building paying between $2,500 and $3000 a week for a unit in the modern block having sold their upper north shore home.