Inside Toorak's record breaking $20 million plus penthouse apartments

A yet-to-be completed luxury development in Toorak by Prime Edition has already rewritten the suburb's record books, with two penthouses at Como Toorak selling off-the-plan for $20.95 million each.

The dual sales total just under $42 million, making them the most expensive penthouses ever sold in Toorak.

Located at 2 Bruce Street, penthouses 301 and 302 have also set new benchmarks for price per square metre.

Penthouse 302 achieved $46,659 per internal square metre, the highest penthouse rate recorded in the blue-chip suburb.

Penthouse 301, sold a few months earlier, set the previous record at $44,000 per square metre.

According to the latest Cotality-indexed market data, the median apartment price in Toorak is around $1.14 million. The Como Toorak penthouse sales sit almost 19 times higher than a typical apartment in the suburb, illustrating the extraordinary level of demand for ultra-luxury, low-maintenance living among high-net-worth buyers.

Architecturally designed by Jolson Architecture and Interiors with landscaping by Paul Bangay, Como Toorak comprises just 16 residences across three levels, with completion expected in February 2026.

Prime Edition Director Alistair Taylor said, "Its sculptural, chiselled faade is softened and enlivened by Bangay's discerning and creative eye, creating a building that will be valued for many years to come as one of Toorak's best."

The two penthouses, spanning 474 square metres (301) and 449 square metres (302), are the largest in Toorak.

Each includes four bedrooms, five bathrooms, two powder rooms, dual living areas, a study and a seven-car private garage with licence-plate recognition.

The level of amenity is closer to that of a private members' club, with a cinema, wine cellar, sauna, steam room, gym, dog wash, and chef-grade kitchens fitted with Sub-Zero and Wolf appliances.

Each penthouse also features a private rooftop terrace complete with a pool, bar and multiple entertaining zones surrounded by Bangay's signature landscaping.

Jolson director Mat Wright said the penthouses "sit atop the building as glass pavilions surrounded by generous terraces, with views over the park, river, city skylines and South Yarra Tennis Club."

Both purchasers made significant customisations.

The buyer of penthouse 302 requested a basement bar and beauty room, along with a Hollywood-style walk-in wardrobe upstairs.

The purchaser of penthouse 301 added his-and-her master robes and ensuites, art-display walls and a spa and TV area adjoining the rooftop pool.

Prime Edition director Alistair Taylor said of the sale: "This really demonstrates the appeal of a home that offers all the luxury and scale of Toorak living, without the maintenance that often comes with it," he said.

Marshall White director Marcus Chiminello, who sold penthouse 301, said Melbourne's penthouse market remains exceptionally strong.

"Penthouses are a rarity right now in Melbourne, with demand well outstripping supply," he said.

"The buyer appreciates that opportunities like this are finite, bringing together exemplary talent to create an ultra-luxury penthouse where every detail is considered."

Apartments in the building start from $3.75 million, with two-, three- and four-bedroom configurations available.

The project is located 600 metres from Toorak Village and opposite Como Park and the Royal South Yarra Tennis Club.