Widow of Discount Tire billionaire lists Montecito mansion…at big discount

Diana Cummings Halle and her late husband, Bruce Halle, poured more than $25M into the estate

Los Angeles /
Apr.April 01, 2019 02:00 PM
Bruce and Diane Halle with the home for sale (Credit: Compass)

Over the course of two years, billionaire Discount Tire founder Bruce Halle and his wife poured about $25 million into their Montecito mansion, counting the 2016 purchase price and subsequent renovations.

Now, as the prices of ultra-luxury homes in some of Los Angeles’ toniest neighborhoods continue to fall, the mansion has hit the market for $12.5 million, according to Yolanda’s Little Black Book. That’s about half the amount the couple invested, according to the report. Diane Cummings Halle, heiress to the Sara Lee company, put the home on the market a year after her husband died.

The 8,000-square-foot home was new when the couple bought it in 2016 for $16 million. Still, they renovated the estate immediately, according to Yolanda, putting in an estimated $8 million.

The 2.7-acre property on Mariposa Lane includes three bedrooms and 4.5 bathrooms. The master suite spans over 2,300 square feet, and the property features views of the ocean and the Santa Ynez Mountains.

The listing agents are Suzanne Perkins and Ron Brand with Compass.

Montecito is an unincorporated community east of Santa Barbara. It’s also a favorite real estate target for Ellen DeGeneres, who recently spent $27 million on 8,000 square-foot home shortly after she sold a different Montecito home for $34 million.

At the time of Halle’s death in January 2018, the couple also owned an oceanfront estate in Palm Beach, Florida, which they bought for $41.5 million in 2012. They also owned a 600-acre ranch in Colorado and an estate in Arizona that includes 20,000 square feet of living space. [Yolanda] — Gregory Cornfield


Related Articles

arrow_forward_ios
745 N Bonhill Road and David Bolno (Google Maps, NKSFB)
Business manager to A-listers turns up in $24M Westside listing
Business manager to A-listers turns up in $24M Westside listing
$49.5M price tag on curvilinear compound in Palm Desert
$49.5M price tag on curvilinear compound in Palm Desert
$49.5M price tag on curvilinear compound in Palm Desert
The Bel-Air estate (Google Maps)
Thomson media heiress lists 1920s estate for $43M
Thomson media heiress lists 1920s estate for $43M
Scooter Braun asks $24M for John Travolta’s former Brentwood estate
Scooter Braun asks $24M for John Travolta’s former Brentwood estate
Scooter Braun asks $24M for John Travolta’s former Brentwood estate
Domino’s Pizza exec joins upper crust with $20.9M buy in Bel Air
Domino’s Pizza exec joins upper crust with $20.9M buy in Bel Air
Domino’s Pizza exec joins upper crust with $20.9M buy in Bel Air
Sprawling spec home above Malibu’s Carbon Beach asks $47.5M
Sprawling spec home above Malibu’s Carbon Beach asks $47.5M
Sprawling spec home above Malibu’s Carbon Beach asks $47.5M
Blake Griffin and renderings of the previously planned spec home on the property (Compass via The Agency, Getty)
Blake Griffin adds to growing Brentwood compound
Blake Griffin adds to growing Brentwood compound
Marc Andreessen and his new house (Google Maps, Getty)
Andreessen revealed as buyer of California’s most expensive house
Andreessen revealed as buyer of California’s most expensive house
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...