31 Gaerloch Ave, Tamarama is understood to have sold for about $45m.
Advertising guru David Droga has been revealed as the buyer of Australia’s most expensive oceanfront home.
Speculation about the new homeowner has been growing after it was revealed that the modest four bedroom bungalow in Tamarama had sold for around $45m.
According to the Financial Review, Droga snapped up the 1100 sqm home above the Bondi to Bronte walk after it was on the market for seven months.
Droga currently lives in New York City and his plans for the property remains to be seen.
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David Droga currently lives in New York City Photo: Nigel Barker
The bungalow, which is called Lang Sayne, was built in the 1920s and sold for £9750 in 1959.
The price guide was $47m-$52m but it is understood Droga bought the property for a sum towards the lower end of that scale.