The apartment on Ramsgate Avenue is owned by Better Homes and Gardens architect Peter Colquhoun, who has been leasing the property as a holiday rental.

Police attended a unit on Ramsgate Avenue, Bondi, about 4.40pm to arrest the man wanted on a warrant.

Police confirmed the man refused entry to police and barricaded himself inside the unit.

Police negotiators were called and assisted with the peaceful arrest of the man shortly after 9pm.

He was taken to hospital for assessment and remains under police guard.

"It was pretty scary there for a while," said Mr Colquhoun, who waited close by as the police cordoned off the area stretching from Bondi RSL and Campbell Parade between Wairoa Avenue and Brighton Boulevard.

"But the Local Area Command guys had things in hand," he said.

It is understood the man gained access to the apartment late on Monday afternoon and locked himself inside.

There was no firearm involved, contrary to other media reports.

Local police and police snipers had been on the scene since early evening, positioning themselves around the unit block, including a contingent that set up in the kitchen of the North Bondi RSL across the road from Mr Colquhoun's apartment. 

Ambulance and fire trucks were also on the scene.

Mr Colquhoun told Fairfax Media that the apartment was vacant at the time, with the previous tenant having recently vacated.

"I guess it's just another night in Bondi," Mr Colquhoun said. "I'm just so thankful it all ended safely."

Big police incident occurring at North Bondi at moment. Dozens of cops. pic.twitter.com/NaUyLZurh9— Adam Gibson (@adamfgibson) May 25, 2015

Police, ambos and fire brigade in attendance at North Bondi. Whole block taped off. Police moving onlookers. pic.twitter.com/7JEIJWbiCg— Adam Gibson (@adamfgibson) May 25, 2015