Leading Australian property developer Crown Group has set a new sales record for its luxury top-floor penthouse in Waterfall by Crown Group.

The three-bedroom apartment located in the award-winning Waterfall by Crown Group development broke the previous Waterloo and Zetland suburb apartment price records when it sold for $4.5 million.

The apartment broke the record as the highest price for the residential apartment in Waterloo, Green Square and Zetland previously held by a three-bedroom penthouse at Infinity by Crown Group which was sold for $3,598,650 last year.

Set to revolutionize the use of green space in Australian residential developments, the $395 million Waterfall by Crown Group features Australia's tallest man-made waterfall.

Director of Project Sales, Prisca Edwards said the Waterfall by Crown Group penthouse allowed the purchasers to own a prestigious home in the city's most natural address.

"The sales advice was issued, and the contract was exchanged in less than 24 hours. The rapid sale of the penthouse reflects the strong demand for luxury apartments in Sydney's property market.”

Designed by award-winning architects SJB, Waterfall by Crown Group will comprise three seven-storey buildings and an iconic 20-storey sculptural tower overlooking lush, tropical landscaping and a beautiful water garden. Public art is a key element within the development: Mika Utzon Popov, the grandson of Sydney Opera House architect Jørn Utzon, is creating a large-scale artwork integrated in the design.

Waterfall by Crown Group offers a collection of 331 luxury apartments including studios, one, two and three-bedroom apartments, courtyard apartments and double-storey penthouses. The interiors offer fresh, natural modern luxury, utilising stone, timber and subtle hues.

"This record-breaking penthouse sale demonstrates there is always an appetite for luxury apartment living built by reputable developers with premium quality," Mrs Edwards said.

Located on level 22 and 23, the oversized three-bedroom super penthouse totalling 303 sqm with 173 sqm internal and 130 sqm outdoor area features luxuriously designed apartment, unrivalled resort-style amenities and a spectacular rooftop terrace with panoramic views of Sydney's CBD.

"The penthouse is the perfect balance of nature and beauty. Boasting bright, naturally-lit living spaces and lavish interior finishes, the penthouse appealed to those particular purchasers who wanted a low-maintenance home in Sydney's upcoming Waterloo area without compromising on lifestyle," she added.

Crown Group recently announced its next development Eastlakes Live by Crown Group, located 6km from Sydney CBD, will be launched for sale this Saturday 2nd June.

As Crown Group's largest and most ambitious development to date, the $1 billion development Eastlakes Live by Crown Group is set to be the new east of Sydney and the vision of a future living, revitalizing the new Eastlakes town centre.

Stage one of Eastlakes Live will include 134 luxury apartments ranging from one-bedroom apartments to penthouses and 12 retail outlets below and expected construction completion in 2021. Stage two will complete the new town centre with a mix of residential and retail components, with details still to come.

Sales for stage one will begin on Saturday 2nd June 2018 with expected construction completion in 2021. Crown Group is now accepting expressions of interest from prospective buyers.

The display centre is now open daily from 10am to 4pm, located at 19a Evans Avenue, Eastlakes.

For more information, please visit www.crowngroup.com.au/eastlakes or call 1800 853 162.