Real estate agent Anthony Di Nardo believes his newest Merewether listing could crack the $10 million mark and potentially top the current suburb record.
Mr Di Nardo listed a luxury home at 3 Berner Street on Wednesday, with price expectations in the vicinity of $10 million.
"It could break a suburb record. This could go for $10.5 [million], $11 [million] or $12 [million]. You just don't know," Mr Di Nardo said.
The record price for a residential property in Merewether is understood to be $10.25 million paid for a house around the corner on John Parade in May this year.
The agent said he already had local and international buyers expressing interest.
Designed by EJE Architects, the house was last sold in September 2015 for $4,025,000.
"The owners have spent a fair bit of money undertaking extra works to the property since they bought it, but that location and proximity to Merewether Beach epitomises lifestyle, in my opinion," he said.
With views across Dixon Park Beach, the four-bedroom, four-bathroom house includes a heated in-ground pool and luxury features throughout.
The premium end of the property market has remained strong despite the cooling market.
Last month, Mr Di Nardo sold a mansion at 334 The Esplanade, Speers Point for $10 million after just one week on the market.
"I'm feeling optimistic about this one. I think it will take time," he said.
"If you asked me about the Speers Point one I would have said it will either go very quickly or take up to three months to sell because two to four weeks is what a property really needs."
The house at Berner Street is not the only high-priced property on the market in Merewether.
Two neighbouring beachfront properties at 22 and 24 John Parade are listed for sale via expressions of interest with First National Newcastle's George Rafty in collaboration with Alexander Phillips of PPD Real Estate, Eastern Suburbs Sydney.
The two are expected to sell for a combined value of around $20 million.
Concept plans for a new compound-style home encompassing both blocks include two swimming pools, an eight-car garage, half-court basketball court, gymnasium, music room and bar set across more than 1600 square metres of internal space. (STCA).
