Mystery $67 million Vaucluse buyer hotel developer Jerry Schwartz
Phoenix Acres, the harbourfront Vaucluse property belonging to Singapore businessman CK Ow, has stayed in the hotel business, with hotelier Dr Jerry Schwartz and wife Debbie pinpointed as the likely mystery buyers.
The locally based couple, who lived in the next bay along just a kilometre away, are thought to have snapped up the home for around $67 million.
It had hopes of bettering Sydney's $71 million record price.
It was still the second highest price in 2017.
Mr Ow, chairman and chief executive of Singaporean hotel owner and developer Stamford Land Corporation Limited paid $7,0001,000 for the six bedroom home 22 years ago.
Set on 3731 sqm, the home on The Crescent comes with championship tennis court, resort-style pool and an English-style pub.
His taste in cars run to a Ferrari 360 Spider and three chauffeured Rolls-Royces with the OW1 registration.
Likened by an easily enraptured The Straits Times of Singapore to American Donald Trump, Ow was described as seeming to be a reclusive poster boy for ostentatious excess.
"Sadly, I do not spend sufficient time there to enjoy this jewel of a property as my travels take me to many other far reaches of the world."
“My Vaucluse home is magical and irreplaceable. It is more than just a waterside home. It’s a sea-side resort, self-sufficient with all country club amenities,” Mr Ow said in a statement.
The Schwartz purchase has seemingly prompted the listing of Loch Maree, their Michael Dysart-designed home that they paid $24 million for in 2014.
The Loch Maree Place home (below), which has undergone an extensive renovation, now has $32 million hopes.
It has six bedrooms, 10 bathrooms, separate guest accomodation, home theatre and a rooftop which is accessed by a new high speed glass lift.
There's also a championship tennis court, golf driving range, boat house, boat ramp and harbour front pool on the 2,586 sqm waterfront parcel.