The man’s body was located on Sunday morning at Apsley Place, Taren Point, in the city’s south.
Local police and NSW Ambulance paramedics attended but the man was declared deceased.
Vladimir Kondakov, 49, had been the prime suspect in the fatal stabbing of Sydney property developer Albert Metledge, 76, last Wednesday afternoon in St Peters.
The victim’s son, Antony Metledge, 33, was also stabbed and the knife was left stuck inside his back.
A large-scale police search for Mr Kondakov, considered “a matter of urgency”, was launched immediately involving the dog unit, PolAir and riot squad but that came to an end on Sunday.
He had last been seen around Rockdale, having hitched a ride away from the bloody scene.
The driver of the vehicle provided assistance to investigators and had no connection to Mr Kondakov or awareness about what had happened beforehand.
Mr Kondakov had been an employee of the company “for some time” and there were no previous issues, Chief Inspector Michael Merrett on Thursday.
He said the suspect was already known to police, but for “unremarkable” matters.
Investigators had been working to determine what disagreement occurred before the stabbing.
A police spokesman said the man’s body is yet to be formally identified.
“A crime scene was established however the death is not being treated as suspicious,” he said.
“A report will be prepared for the coroner.”
Antony Metledge is recovering from his injuries in hospital.
His father has been remembered by family members and colleagues as a softly spoken “angel” and “absolute gentleman”.