Some guy just paid $70 million for FOUR houses in one of Sydney's most exclusive surburbs

A Laing & Simmons listing for 15 Coolong Road, one of the properties sold in the deal, shows the waterfront site.

Who said the top was in for the Sydney property market?

A mystery Australian businessman is reportedly the buyer in what is the biggest single residential property deal in the nation’s history: the joint sale of four neighbouring waterfront properties in Sydney’s eastern suburbs for more than $70 million.

Domain reports the buyer plans to knock down the homes in Vaucluse and replace them with a “waterfront megamansion”.

The price tag exceeds the $70 million paid for James and Erica Packer’s nearby six-storey mansion La Mer, which set a national record when it was sold to a Chinese buyer last year.

The deal was enabled when technology entrepreneur David Shein, the Com Tech founder, and his wife agreed to release their properties for the joint sale with their neighbours.

Combined, the four properties on Coolong road will be a site spanning more than 4200 square metres.

Head over to Domain for more details >>

NOW WATCH: Money & Markets videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.