It has arguably the most spectacular backyard of any home in Sydney, with stunning views of the Opera House and Harbour Bridge.
And it can be all yours for just $54.5 million. For the first time since it went back on the market two years ago, the asking price for Point Piper mansion Altona has been revealed, which if achieved, would set a new record for Sydney.
The new asking price is not quite double the record price of $28.5 million Altona achieved when it was sold a decade ago by former owner Fiona Handbury to current owners, Deke and Eve Miskin.
Miskin, a former publishing mogul and his bikini-designer wife, Eve, now live in Byron Bay and have been trying to offload their Sydney mansion for two years.
Most recently rumours swept Sydney that property developer Bob Ell was seriously considering buying the property, which over the years has hosted the likes of Elle Macpherson and Bono as a holiday home for about $40,000 a week.
However the Ell sale appears to have been derailed, and now the Miskins have called in agents Coldwell Banker to promote the property, which listed its asking price on its US site at $US56.9 million, which at today's conversion rate equals $A54.5 million.
Domestically, no price has been advertised.
Boasting a series of terraces overlooking lawns and the harbour, Altona also has a heated pool, private jetty and sauna, along with a rooftop deck and a fully kitted out boathouse which would put most Sydney homes to shame.
There are also eight bedrooms and seven bathrooms throughout the house.
The asking price also includes a vacant block next door.
Altona has been sold five times since 1986.
Last year, it was reported that neighbouring property Villa Veneto was sold for a record breaking $53 million, the highest ever price for a Sydney property.
However it was subsequently revealed the property, which features a 21-person lift, six bedrooms and nine bathrooms, was transferred for $44 million after headhunter Andrew Banks and his wife Andrea sold it to current owners David and Linda Penn.