PHOTO: The 2500 square metre property is set on th waterfront off Loch Maree Place. Photo: Domain

Hotel mogul Jerry Schwartz sold his $30 million waterfront mansion in Vaucluse on Saturday, quelling fears that price falls across the broader Sydney market might hit Sydney’s trophy home owners.

The sale of the double block, known as Loch Maree, should prove a windfall for Dr Schwartz and his wife Debbie, even with the costs of a recent renovation, given it last traded three years ago for $24 million.