Deloitte Australia chief marketing officer Matt McGrath and his wife, acclaimed fashion designer Jodie Boffa-McGrath, have bought in Darlinghurst.
The couple, who have been renovating their $3.7 million Palm Beach home, have quietly paid $2.16 million for an updated terrace.
Bresic Whitney Darlinghurst secured the off-market sale.
It had been a $1100-a-week rental in recent years, having last sold for $812,500 in 2003.
The home with three bedrooms, two designer bathrooms and a landscaped garden on 95 square metres has been listed for rent by the couple at $1395 a week.
This article was first published in the Saturday Daily Telegraph.