NSW 2 Bed Apt in Darlinghurst – Strange sales history

For this apartment: Property Report for 2/230-232 Palmer Street, Darlinghurst NSW 2010

The sales history is strangely inconsistent – $818k in 2009, down to $405k in 2011 and then $670k in 2019, and now advertised at $1.4m! Am I missing something here?

 

A few theories:

• Sold to family, or;
  
• 2010-2011 is roughly when the second wave of the GFC hit, with Greece on the verge of meltdown, so maybe someone was desperate to liquidate
• 2019 was the lowest point in the boom so that makes sense

 

Or divorce settlement etc

 

I did some digging around in RPData, its quite common for unit and lot numbers to get mixed up.

The property that sold in 2009 for $818k appears to be this unit, but the 2011 & 2019 transactions are for the 29sqm retail shop at the street level.

I think that explains the issue, so $1.4m seems like a reasonable price trajectory.

 

What do you think? It's got great views of the city and only one shared wall with the other apartment. Really big drawback is no parking and the fact that the other apartment is an AirBnB...