Rob Lowe buys again in Montecito
Actor and wife paid $13M for home, after selling massive estate nearby for $46M
Actor Rob Lowe and his wife Sheryl Berkoff have purchased their third home of the year and their second in Montecito.
The couple paid $13 million for a 5,700-square-foot home in Montecito, according to Variety. The house, which has five bedrooms and six bathrooms, was built in 1925. The 6.7-acre property includes a couple of guest cottages. The sale was pegged at $2,246 a foot. The grounds include lawns and gardens with hedges and flowers, as well as both citrus trees and eucalyptus trees.
Timothy Walsh with Village Properties represented the seller, while Lowe and Berkoff were represented by Nancy Kogevinas with Berkshire Hathaway.
Lowe and Berkoff have cut three other deals — including one in Los Angeles — in the last two months.
In late September, they sold their massive estate in Montecito for $45 million. About a month later they bought a home in Beverly Hills for $3.75 million and last month they spent $5.2 million on another small home in Montecito.
Montecito has seen a flood of big-ticket deals this year.
News recently broke that luxury house flippers and investors Ellen DeGeneres and Portia de Rossi were the buyers of Dennis Miller’s estate, paying $49 million for the deal that closed in September. Another sprawling estate traded in October for $63 million.