Adam Levine, Behati Prinsloo make sweet music on Montecito flip

Grammy winner, supermodel cleared millions on sale of Montecito estate for $28.5M

Los Angeles /
Dec.December 13, 2021 09:28 AM
Adam Levine, Behati Prinsloo make sweet music on Montecito flip
Adam Levine and Behati Prinsloo and 700 Park Ln, Montecito (Lands of America, Getty)

It turns out Grammy Award-winning singer Adam Levine and supermodel Behati Prinsloo pulled off a quick and quiet multimillion dollar flip in Montecito over the summer.

The couple bought a 5.2-acre estate in the Santa Barbara County enclave for $22.7 million back in March. They sold it for $28.5 million in June, according to Dirt.

That’s a roughly $5.8 million profit before counting any taxes and upkeep costs — the latter would be minimal for such a short period of ownership.

The so-called El Miraval Estate on Park Lane was on and off the market for years before Prinsloo and Levine purchased the property. It had been on the market most recently in November 2020, asking $27.5 million.

The 12,000-square-foot Spanish Revival-style main house was designed by architect George Washington Smith and completed in 1923.

The house has five bedrooms and hallmarks of the Spanish Revival style, including arched doorways and exposed wood-beam ceilings.

The year of the home opens to a massive lawn and a Roman-style swimming pool surrounded by hedges and an ivy-covered trellis.

Elsewhere on the property are a five-car garage with staff quarters, a two-bedroom guesthouse and a one-bedroom cottage.

The couple seems to have no problem letting go of properties. They owned a sprawling home in Beverly Hills for about a year before selling it for $42.5 million in 2019 to prolific flippers and Montecito residents Ellen DeGeneres and Portia de Rossi.

They cleared a nearly $10 million profit on that deal too, before taxes and upkeep costs.

Not surprisingly, de Rossi and DeGeneres didn’t hold onto it for long, ultimately listing it this spring asking 53.5 million. It only took about a month to sell the property for $47 million.

Levine and Prinsloo also own a home in Pacific Palisades and have bought and sold elsewhere around Los Angeles as well.

[Dirt] — Dennis Lynch 





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