A venture capitalist has dropped $16 million for a large residence in Montecito, adding to the number of well-heeled individuals picking up homes in the luxurious — and fire-ravaged — neighborhood near Santa Barbara.
Mitchell and his wife, Lisa, Green acquired the seven-bedroom house on Picacho Lane from sellers Edward and Sheri Glazer, owners of the Tampa Bay Buccaneers, Yolanda’s Little Black Book reported.
Mitchell Green is the founder of Lead Edge Capital, a venture capital firm that has backed companies like Uber and Spotify.
Spanning 3.6 acres, the Montecito home features a 10,110-square-foot main house with five bedrooms and eight bathrooms. There’s also a tennis court, three fountains, rose gardens, a swimming pool and guest house on the property.
The Glazers spent $15 million to acquire the Mediterranean-style villa in 2015. They put it on the market a year later, following an extensive renovation.
Ed Glazer, president of the family-run commercial real estate firm First Allied Corp, also owns a 19,300-square-foot mansion in Beverly Park. He and his wife hosted a fancy reelection campaign fundraiser at that property for their pal President Trump in March.
Riskin Partners of Village Properties represented the Glazers. MK Properties of Berkshire Hathaway Home Services represented Mitchell Green.
Just outside of Montecito, long-time resident and comedian Ellen DeGeneres recently picked up another pad in the area. The talk show host spent $6.7 million for a ranch home in Carpinteria. She also owns two other properties in the area. [YBB] – Natalie Hoberman