The end of a long peninsula running parallel to the north of the Sydney central business district. In between the two lies Darling Harbour. Pyrmont was originally an industrial area, with huge shipping ports on the water's edge and factories higher up, with a lot of cheap worker housing. It fell into decay in the later half of the 20th century, but the development around Darling Harbour under New South Wales premier Nick Greiner in the 1980s stimulated the area. The growth of the enormous Star City casino complex and the Sydney Fish Markets also helped.
Pyrmont is now the site of huge numbers of luxury real estate developments. Despite being overlooked for years, it is after all harbourview stuff ten minutes walk from the busniness district, although parking is impossible in the rabbit warren of tiny streets. There's some cool architecture emerging, not to mention some good restaurants and a wonderful imported cheese shop, and of course the fish markets.