Mosman's Redan Lane is off to a record-smashing start.

Construction of Mosman's most expensive apartments began last month with locals paying a record $19m and $19.5m each for a couple of off-the-plan units. And that's not even the top price for a home in the exclusive Redan Lane development.

Three more apartments will be offered above Balmoral Beach, including a three-bedroom home asking $13.5m and a four-bedroom residence with a price tag of $23m. Those numbers are head and shoulders above the giddy heights of Mosman prices.

Redan Lane is a $125m residential project of seven luxury residences in Redan St developed by Prosker and due to be completed by the end of next year.

Prosker chief executive Tim Foote says two Mosman downsizers and an investor bought $51m worth of off-the-plan property at Redan Lane last November, a fourth home will be retained by the developer and three will be offered for sale closer to completion. The $23m apartment will have four bedrooms, four bathrooms, two livingrooms, a six-car garage and a private wine cellar.

Foote says there is an appetite, even at the $23m level, for luxury low-maintenance living in Mosman.

“Local downsizers are the dominant market,” he says. The three- and four-bedroom apartments range in size from 205sq m to 270sq m and include either two garages or garaging for four cars. Every residence offers EV charging facilities, court yards and terraces for alfresco dining, and there is a golf room with simulator.

Redan Lane has been designed by Studio Johnston with interiors by Mim Design and landscaping by Dangar Barin Smith. Construction is in the hands of Trescon.

And the residences will offer panoramic views over the ocean. “Redan Lane isn't just a project; it's a testament to our dedication to excellence and innovation in collaboration with Prosker,” says Trescon director Michael Kounellis. “Together, we are setting new standards for luxury living in the Lower North Shore.”

Prosker chief executive Tim Foote says: “We're creating a place wher eluxury meets tranquillity, offering our residents an exclusive retreat in the heart of Balmoral.”

This article was orginally published here.