Rob Lowe sells Montecito mansion for $46M

Two years after relisting their sprawling Montecito mansion, actor Rob Lowe and wife Sheryl Berkoff sold the property for $45.5 million.

The couple had actually slashed the price on the 10,000-square-foot home in August 2019 to $43 million from $47 million before settling on buyers Jack McGinley, who co-founded RoundTable Health Care Partners, and his wife Julie, the Wall Street Journal reported.

Way back in 2013, Lowe and his wife had a buyer at the $42 million price, but that deal fell through. Called the Oakview Estate, the 3.4-acre property’s main house has 20 rooms, a koi pond, rose gardens, 800-square-foot pool cabana and ocean views. Berkoff is a jewelry designer.

The couple is among the many boldface names with Montecito compounds, including actor Jeff Bridges, Oprah Winfrey, and talk show host and real estate investor Ellen DeGeneres and her wife, actor Portia De Rossi.

Rob Lowe — the ‘80s cool kid who in recent years appeared in “Parks and Recreation” and now has his own podcast, “Literally!” — and his wife bought the land in 2005 and developed the home, the Journal reported.

The deal comes as LeBron James closed on his $36.75 million Beverly Hills mansion purchase; and former 007 actor Pierce Brosnan listed his Malibu pad for $100 million. [WSJ] — Alexi Friedman