73 The Esplanade, Mosman, a five-bedroom, two-bathroom red brick house, is being marketed by Ray White Lower North Shore principal Geoff Smith, who has known the family for many years, alongside co-principal Richard Harding.
Speaking on behalf of his siblings Amanda, Andrew and David, retiree Nick Stabback said the location was simply unbeatable.
"Mum first looked at this house 60 years ago, back when there were still flats where the palm trees now stand near the beach," Mr Stabback said.
"She and Dad bought it 40 years ago, downsizing from a 11-bedroom, 15 room house at Cremorne Point to a life overlooking one of Sydney's best beaches. Mum and dad originally lived in Cremorne Point, there were originally three flats so this was their way to downsize."
Mr Stabback, who lived in the property for a short stint at age 21, said the family were keen sailors who spent countless weekends on the water at Mosman Bay in their skiffs.
"You see people out sailing here at all times of the year, it's part of the rhythm of the place," he said. "And the swimming is just as good. Balmoral is iconic for a reason, and both visitors and locals never tire of it."
