The six-bedroom, seven-bathroom and double garage home at 4 Parsley Rd came on the market in early February through Laing and Simmons Double Bay principals D'Leanne Lewis and Jacob Hannon with a guide price of $18 million and is the Wentworth Courier's House of the Week.
Letters of intent were due to close on 8 March and it is understood that Lewis has already done deals with three buyers. Negotiations on the final price have taken slightly longer and the vendor is looking for a longer settlement time.
In an Instagram post on Friday, Lewis said the property had "just sold".
"I'm so happy for my amazing seller and excited for the lucky buyer to call this perfect waterfront beauty their new home.
Sources confirmed to the Wentworth Courier this morning that the price of the mansion was around $21 million, but the identity of the purchaser was unknown.
Of the house this week, Lewis said: "Front row settings like this are very rare, especially with incredible views.
"The most special aspect of this beautiful home is its direct waterfront access with wide expanses of water."
According to records, Stubbs and Vito, granddaughter of the late billionaire Victor Smorgon, bought the 1,128 square metre property in 2006 for $6.1 million and set about renovating the original 1980s house.
Early last year, the couple sold their major stake in General Pants Co to the Alquemie Group, which owns interests in Lego, Surfstitch, National Geographic and Ginger and Smart, among others.
The deal was reportedly signed for US$60 million. However, the couple are still in the cloth trade and they remain major shareholders in the fashion brand Ksubi, which they co-own with Jackie's family business, Victor Smorgon Group.
The couple are now downsizing from their beloved Parsley Bay home.
Located on the beach, the home has been extensively renovated by George Livisianis Interiors and Architecture to maximise its versatile harbour, beach and park views.
The gardens, curated by Daniel Barfsky of 360 Degree Landscaping, create a private oasis that includes a sculpture garden and a bridge across the pool to the main entrance.
On five levels, the residence features several alternative entertaining areas within the 500+ square metre interior space.
There are several outdoor spaces that spill out from the formal and informal living areas.
The state-of-the-art gas kitchen, with a full range of Wolf and Sub-Zero appliances, is centrally located between the large dining room and the expansive family room with its bespoke bar.
The spacious formal lounge opens onto a deep terrace facing the bay and the adjoining master bedroom has a five star hotel style double en-suite.
This superior suite also has a dressing room and a private terrace facing the water.
Outside, the gardens showcase mature trees, pebble concrete, terrazzo and sandstone paving, and a unique UV system swimming pool with bridge and direct access to the sands of Parsley Bay.
There is also a double lock-up garage and plenty of storage space for planks and kayaks.
