Loch Maree, Vaucluse sold after 10 months
Fairfax Media has reported a $30 million private treaty sale in Vaucluse, although it was still listed as for sale on the Sotheby's website.
The harbourfront, Loch Maree had been initially listed earlier this year at $32 million by the hotelier Jerry Schwartz.
Loch Maree was sold by Dr Schwartz and his wife Debbie who bought it three years ago for $24 million.
Loch Maree, the Vaucluse waterfront trophy home sits on a 2311-square-metre holding with a vast modernist mansion built in the early 1970s for the late Gordon Barton, founder of IPEC.
Designed by architect Michael Dysart, it has had only three owners since it was built at 1a Loch Maree Place.
After Barton experienced financial troubles, the property sold in 1993 for $4.75 million after being on the market for three years.
Hidden from view by established gardens, the property has two entrances, Loch Maree Place and Coolong Road.
The Michael Dysart-designed residence was completed in 1972 at a cost of $280,000.
It features stone floors quarried from a 14th century convent in France by Burgundian monks to Leonard French´s stained glass feature windows.
Schwartz, a cosmetic surgeon, owns the Four Points Sheraton at Central Park in Sydney amid his portfolio of hotels, which includes the Sofitel Darling Harbour, Rydges World Square, Mercure Hotel Canberra, Fairmont Resort Blue Mountains and the Crowne Plaza Hunter Valley.
