What Scarlett Johansson’s Manhattan Apartment Can Teach Us About Sydney Real Estate
What does Scarlett Johansson’s new Manhattan apartment have to do with Sydney real estate?
At first glance, maybe not much. But when you look closer, it’s a powerful reminder that even in high-end property markets, prices don’t always move in one direction.
A few months ago, Scarlett Johansson purchased a beautifully renovated apartment on Manhattan’s Upper East Side. The seller? A private equity CEO who originally bought the apartment back in 2006 for USD $13 million. After investing in a two-year renovation, he listed the property in 2018 for more than double that, USD $27.5 million.
It sat on and off the market for years. And just recently, it sold.
For the same USD $13 million he paid nearly two decades ago.
That’s right, nineteen years later, zero growth.
Image: @topclosings
Even Smart Buyers Can Get Caught Out
Now, I’m sure the seller is a smart guy. A private equity CEO probably isn’t short on resources or financial knowledge. And yet, even with a high-end property in one of the most prestigious cities in the world, the market didn’t move in his favour.
This isn’t to say he made a mistake, real estate is complicated, and there are many factors that shape property values beyond just buying and selling. But it is a reminder that even smart, well-resourced buyers can see their investment stall if they don’t buy at the right price or in the right market cycle.
Sydney’s Story Is Different, For Now
We don’t hear stories like this often in Sydney, at least not over the last couple of decades. Most buyers here have seen steady growth, sometimes explosive growth, and for many, the idea that property values could stay flat for nearly two decades feels unthinkable.
But here’s the thing: past growth is not a guarantee of future performance. Not in Manhattan, not in Mosman. Sydney’s median house prices might have soared, but even here, there are micro-markets that stagnate, properties that underperform, and periods when growth slows down.
Why Buying Well Matters More Than Ever
That’s why I always come back to one principle, no matter what city you’re buying in: buy well.
Whether you plan to hold the property for three years or thirty, how you enter the market matters.
It’s not about finding the cheapest property or trying to time the market perfectly. It’s about making a clear-headed, data-driven decision that takes into account quality, location, and value, and knowing where the risks are hiding.
Because even in the world’s most in-demand, high-price cities, timing, quality, and strategy still count for more than blind optimism.
So, What Can Sydney Buyers Learn from Scarlett’s Seller?
Past performance doesn’t guarantee future returns.
A beautiful renovation doesn’t always translate to a profitable sale.
Even the smartest investors can be caught out by market shifts.
And most importantly: buying property is never just about price; it’s about value, strategy, and long-term potential.
“If you’re thinking about entering Sydney’s property market or making your next move, speak to The Acquiry. As your Sydney-based buyer’s agent, we’re here to make sure you buy well, buy smart, and buy with confidence.”
Source: https://www.instagram.com/p/DJk6-c-pnSG/