Investment banker Nick Langley, art collector Lorraine Tarabay list Point Piper digs

The recently appointed chair of the Museum of Contemporary Art Lorraine Tarabay and her investment banker husband Nick Langley have listed their redundant Point Piper house as part of their efforts to simplify their real estate portfolio.

This is the Wyuna Road property that was billed as a 1960s time capsule when it was listed in 2016, selling soon after for $13 million and ending more than half a century of ownership by the Harris family since it was bought by the late racing identity Ray Harris for £15,000 in 1962.

At the time the Langley-Tarabay family were relative newcomers to Point Piper, having upgraded from their historic Hunters Hill home Windermere to buy a landmark Leslie Wilkinson-designed mansion for $30.5 million in 2014.

Tarabay’s aesthetic pursuits are not limited to her renown as a modern art collector, with a major renovation undertaken on her own heritage-listed home that was profiled in Vogue Living magazine last December.

It was also followed by a somewhat less extensive renovation of the investment across the road.

BlackDiamondz Concierge’s Monika Tu, who has listed it with her husband Jad Khattar, said the original bones of the John Suttor design remain, but the house has been improved with new bathrooms, kitchen and finishes throughout.

Buyers are being offered a guide of $14.5 million ahead of an upcoming auction.

The couple’s selling plans come as they seek to offload their Whale Beach estate Rocca Bella, long owned by the late Dame Joan Sutherland. It was sold by her widower Richard Bonynge for $6.9 million in 2015.

The more-than-3000-square-metre clifftop property was set for a major rebuild by the Point Piper-based couple, but was instead put up for grabs in late 2018, and remains on offer with hopes to recoup their purchase price.