Haute Estate: Rob Lowe Sells Montecito Home for $7,600,000

Actor Rob Lowe and his makeup artist wife, Sheryl Berkoff, have just joined the ranks of home sellers across the nation who are breathing a huge sigh of relief at the closing of their home.

Lowe and his wife have finally sold their six-bedroom home in Montecito, California for a satisfying $7,600,000. Originally listed for $12,398,000, then dropping to $10,995,000 before finally decreasing to what would turn out to be the home selling price, it’s likely the Lowes were happy to take the offering to avoid further dropping the price before selling.

The beautiful home was built in 1929 and in addition to its six bedrooms, the home also features five full bathrooms and one half bath. The home was designed by William McCay, but has since been remodeled and “re-styled” by the Lowes. The Lowe’s purchased the home in 2005, but the amount they paid has not been disclosed. It was originally intended to be a temporary house for the couple while they finished their other home. The home sits on 1.13 acres and was sold to an unidentified individual, who is reportedly not a celebrity.

Lowe and his wife own other property throughout Santa Barbara County including his primary residence which was purchased in 2005 as well. This 9,860-square-foot home sits on 3.4 acres of land and features stunning ocean and mountain views. The wealthy couple also famously owned a mansion on 5.56 acres of property that was featured in Architectural Digest in 2001 before being sold off for a reported $25 million to Peter V. Sperling, the son of the founder of the Arizona-based University of Phoenix.




Via: Big Time Listings