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The actor Rob Lowe has sold his luxe Montecito mansion for around $45.5 million, the Wall Street Journal reports.
The “Parks and Recreation” star and his wife, the jewelry designer Sheryl Lowe, initially listed the parklike estate in 2018 for $47 million. Then, last year, they reduced the asking price to $42.5 million.
The couple purchased the vacant 3.4-acre plot in 2006 for $8.5 million, then built the East Coast-style compound now known as “Oakview Estate.”
Although they spent millions to construct their regal residence, that’s quite a return on investment.
According to the WSJ, the transaction is one of the priciest in an area where both Oprah Winfrey and Ellen DeGeneres own property. DeGeneres has just listed a newly renovated estate from her real estate portfolio for $40 million.
The Georgian-style home takes its inspiration from George Washington‘s Mount Vernon estate and harkens back to the star’s Virginia roots, Lowe told Architectural Digest in 2010.
The two-story layout features a 10,000-square-foot main house, and a total of six bedrooms, 11 bathrooms, a two-bedroom guesthouse, as well as a poolhouse with a bedroom and kitchen.
Contemporary amenities include a chef-caliber kitchen, plus formal and informal living areas both inside and out.
Other amenities include a catering kitchen, wine room, and state-of-the-art professional theater, as well as a piano bar where Lowe has been known to sing.
The Agency
The Agency
The family-friendly compound offers options for throwing galas as well as small gatherings on the lawn, or to hold family get-togethers indoors. Amenities include a living room with fireplace, a wet bar, family room, dining room, and a library. There’s also a professional home theater, as well as a gym.
Outdoors, the veranda, accessed through French doors, has a wood-burning fireplace for cooler nights. Movies can be viewed from the outdoor living room. Along with rolling lawns, the space features a koi pond, gardens, pool, tennis court, with ocean and mountain views.
Lowe, 56, can now be seen on the TV show “9-1-1: Lone Star.”
The post Rob Lowe Sells His Magnificent Montecito Estate for $45.5M appeared first on Real Estate News & Insights | realtor.com®.
source https://www.realtor.com/news/celebrity-real-estate/rob-lowe-sells-his-montecito-estate/
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