Actor Rob Lowe and his wife, Sheryl Lowe, have relisted their Montecito mansion with a discount. The expansive estate is being offered for $42.5 million. It had been listed about a year ago for $47 million.
Called Oakview Estate, the home was built from the ground up after the couple purchased the 3.4-acre site in 2006 for $8.5 million. Harking back to Lowe’s Virginia roots, the Georgian-style estate takes inspiration from George Washington′s Mount Vernon estate.
The couple worked with architect Don Nulty, along with interior designer David Phoenix, landscape architect Mark Rios, and feng shui master David Cho, according to a spread in Architectural Digest.
The result? A classic, East-Coast style home with modern amenities and ultraluxe details.
“We believe it’s the most exciting listing to hit the market in years in the Montecito area. It’s a new build that’s amongst the finest in the world, in one of the most amazing locations in the world,” says Eric Haskell of The Agency. He and Luke Ebbin of Compass hold the listing.
“It would be impossible to build this home again in Montecito,” Haskell adds. “It’s a true legacy estate designed for family, friends and memories. You can host a formal event or gather with small groups in the many inviting indoor and outdoor spaces. In our opinion, it’s the ultimate modern-day family compound.”
With 10,000 square feet of living space, the huge home includes six bedrooms and 11 baths. Inside, you’ll find a chef’s kitchen with a marble island, 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 is accessed through French doors. You can lounge in front of the wood-burning fireplace or watch a movie from the outdoor living room. Along with rolling lawns, the space also features a koi pond, gardens, plus ocean and mountain views.
The grounds also offer a tennis court, pool, poolhouse, and a two-bedroom guesthouse.
Located about 90 miles from Los Angeles, the exclusive enclave close to Santa Barbara attracts celebrities and wealthy residents alike. Oprah Winfrey, Ellen DeGeneres, and Julia Louis-Dreyfus have all owned homes there.
The family compound first came onto the market a year ago, for $47 million. “With our boys now out of the house, we’re looking forward to our next real estate adventure,” Lowe told the Los Angeles Times last year.
However, with no takers, the couple have switched real estate agents and lowered the price to its current ask.
The actor rose to fame with roles in “The Outsiders” and “St. Elmo’s Fire.” He also starred in the popular TV drama “The West Wing” and the comedy show “Parks and Recreation.” More recently, he starred in a reality show, “The Lowe Files,” with his two sons.
The post Rob Lowe Relists Magnificent Montecito Mansion for $42.5M appeared first on Real Estate News & Insights | realtor.com®.