Actor Rob Lowe and his makeup artist wife, Sheryl Berkoff, have sold a six-bedroom house in Montecito, Calif. for $7,600,000.
In a Big Time Listings exclusive, we can report on Lowe's sale of the house and 1.13-acre lot at 735 Fuera Lane in Montecito, which is in Santa Barbara County. Records show that Lowe's Profile Property Trust sold the house on May 11, with the deal being recorded on May 19. The buyers are not celebrities.
Built in 1929, the house that Lowe sold has five full baths and one half bath, according to listing information. Designed by William McCay, the house has been remodeled and "re-styled," according to listing information, by Lowe. The house first had been listed for $12,398,000 and later was reduced to $10,995,000.
Records show that Lowe purchased the house in 2005 for an undisclosed amount. The Los Angeles Times' Ruth Ryon reported in April 2005 that the amount was $6 million, and that the house was purchased as a "temporary house" until Lowe and his wife had finished building their dream house (see more on that below).
Lowe owns other property in Santa Barbara County. Records show that his trust owns the following:
--His principal residence, which is his house on 3.4 acres nearby, which he purchased in 2005 and on which he subsequently built a 9,860-square-foot (or 14,260-square-foot, depending on which plans one consults) house, according to public records. The property has ocean and mountain views, Ryon reported in 2005. That project incurred significant wrath from his neighbors.
--And another small parcel in Santa Barbara that he has owned since purchasing it for an undisclosed price in 2004, according to public records.
Lowe also famously had owned the mansion and 5.56-acre property at 771 Garden Lane in Santa Barbara, which appeared in Architectural Digest in July 2001. He and his wife sold that property to something called the 771 Garden Lane Trust in 2005. Ryon reported in 2005 that the individual behind the 771 Garden Lane Trust was Peter V. Sperling, the son of the founder of the Arizona-based University of Phoenix. She also reported that that property went to escrow for $25 million.