The four-bedroom home Lang Sayne at 31 Gaerloch Ave, Tamarama, is located in an 1100sqm waterfront conservation area above the Bondi to Bronte walkway, with views up and down the coast.

With a guide price of $47 million to $52 million, it is understood to be priced at around $45 million. It is not yet known who the buyer is, but there is speculation that the buyer is an expatriate attracted by the potential.

The selling agent, Ken Jacobs of Forbes Global Real Estate, is overseas and could not be contacted, while Simon Cohen is the known buyer's agent.

The property was on the market for seven months and was built by boot and shoe manufacturer George Wolfe in 1924.

The buyer in 1959 was radio comedian Harry Griffiths, who starred in the comedy sketch McCackie Mansions with Roy "Mo" Rene.

When trying to find out who the most recent purchaser was, the local agent was unable to help.

Last September, billionaire fund manager Will Vicars, through William Manning of Highland, bought the modest semi at 23 Gaerloch Ave. for about $11 million before a scheduled auction.

The house also has incredible 180-degree panoramic views of the ocean, but just over 300 square metres of land.

Could Vicars have snapped up the bungalow too?

Manning had held the Tamarama record when he sold an old five-unit flat block at 9 Kenneth Street to socialite Di Maloney for $29.2 million in October 2021.

The previous beachfront record was $29.5 million set by James Packer for his bachelor pad at Campbell Pde, Bondi Beach, in 2018.