Officers discovered more than 700kg of cocaine worth an estimated $1 billion after responding to reports of a robbery at an apartment block in Ryde, in Sydney's northwest on Monday.
After another resident reported a break-in at the block's underground carpark, police found four men, aged 24, 23, 20 and 19, sitting in a Toyota Yaris wearing all-black clothing and face coverings.
During a search of the car, officers said they recovered a crowbar, gloves, a meat cleaver, knife, box cutter, flashing light bars and zip ties, all tools consistent with a kidnapping attempt.
The men were charged with five offences each, including being armed with intent to commit an indictable offence and participating in a criminal group.
Police identified the intended victim of the foiled kidnapping and spoke to him at the apartment, where he initially appeared "friendly and helpful".
But later that night, when investigators returned to search the unit, Detective Superintendent Joseph Doueihi said the 24 year-old attempted to escape by jumping off the balcony.
The alleged drug dealer was caught and arrested by police waiting at the back of the unit.
"It was quite evident entering the front door of the premises and (looking) into the bedroom, (officers) could see a large amount of bags and within the wardrobes were hundreds of kilograms of cocaine stacked up." Supt Doueihi said.
"We certainly didn't expect that large quantity of drugs."
The haul is thought to be one of the largest single seizures by NSW police that was not the result of an importation bust.
Police said they found the cocaine packaged in large bags in the Sydney apartment. (HANDOUT/NSW POLICE)
Supt Doueihi said the arrested man was from Melbourne and had leased the unit for a three-week period. He was known to Victorian police.
The man was charged with supplying a commercial quantity of a prohibited drug and knowingly dealing with the proceeds of crime.
All five men appeared in Burwood Local Court on Tuesday and four were refused bail.
One man was released on strict conditions, including surrendering his passport and reporting daily to police.
Police will allege the four men broke into the unit complex intending to rob and kidnap the 24-year-old.
"You will only be a victim of this type of (alleged kidnapping) if you're involved in organised crime, if you're a major drug dealer," Det Supt Doueihi said.
"Generally speaking, innocent people are not victims of kidnapping and serious robbery offences like this."
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