It was a big week for residential real estate sales in Santa Barbara—the Solana estate finally sold, and two properties went for over $10 million. Ten notable closings:
256 EUCALYPTUS HILL DRIVE
Far and away the biggest sale of the year so far, the extraordinary property known as Solana, one of the original Montecito hilltop estates, went for $30.8 million—miles off the original 2013 asking price of $49 million. (The closing was two weeks ago, but I only just saw it in the county assessor’s records.) From Robb Report‘s article on the 2018 relisting: “Built in 1914 by prominent Santa Barbara native Frederick Forrest Peabody and designed by architect Francis T. Underhill, the 22,000-square-foot estate […] was a precursor to other sprawling West Coast properties such as Hearst Castle and the Getty Villa. Located on an 11.2-acre knoll-top property, the castle-like compound offers 360-degree views of the Pacific Ocean and Santa Ynez Mountains. From 1958 to 1978, the estate served as the site of a prominent American think tank, and revered guests ranging from John F. Kennedy to Martin Luther King Jr. visited to discuss pressing policy issues.” To see more photos, click the link above or watch this video.
Listed: $49 million in December 2013.
Adjustments: ↓$10M, ↓$2.11M.
Closed: $30.8 million.
P.S. The sellers are Bill and Sandi Nicholson. The buyer is Okeanos SB LLC, registered in Delaware with a Menlo Park P.O. box as the address.
121 OLIVE MILL LANE
Price cut? What price cut? This lovely property sold for its original asking price.
Listed: $10.75 million in September 2019.
Closed: $10.75 million.
4295 MARINA DRIVE
Hope Ranch oceanfront on the market for years.
Listed: $12.9 million in November 2017.
Closed: $10.475 million.
652 PARK LANE
The hot market is drawing buyers to properties on busy streets (this one is on E. Valley Road)….
Listed: $4.495 million in April 2019.
Adjustments: ↓$300K, ↓$196K, ↓$4K.
Closed: $3.825 million.
1430 N. JAMESON LANE
And this is on the 101.
Listed: $3.1 million in July 2020.
Closed: $3.15 million.
3320 CLIFF DRIVE
Yankee Farm fixer.
Listed: $3.395M in January 2020.
Adjustments: ↓$300K, ↓$100K.
Closed: $2.8 million.
340 E. LOS OLIVOS STREET
Huge, fabulous old Upper East house.
Listed: $3.995M in March 2019.
Adjustments: ↓$200K, ↓$296K, ↓$250K, ↓$254K, ↓$245K.
Closed: $2.754 million.
4730 BOULDER RIDGE ROAD
New-build out past San Antonio Canyon.
Listed: $2.85 million in November 2019.
Adjustments: ↓$50K, ↓$50K.
Closed: $2.7 million.
1383 SCHOOL HOUSE ROAD
Small and sweet in Montecito, but with limited outdoor space.
Listed: $3.295 million in June 2018.
Adjustments: ↓$150K, ↓$150K, ↓$346K, ↓$199K, ↓$51K.
Closed: $2.4 million.
18 W. QUINTO STREET
Cute downtown house atop a small hill.
Listed: $2.495 million in March 2020.
Closed: $2.342 million.
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