After unloading his primary family home in 2019, Rob Lowe dug up Montecito real estate at record speed – since late 2020, the 1980s heartbreaker and wife Sheryl Berkoff have snapped up three mansions in the lavish enclave for a combo of $ 47 million.
In the summer of 2019, Lowe, 57, and Berkoff, 59) sold Oakview Estate, a 10,000-square-foot mansion just a stone’s throw from the mansion now occupied by Prince Harry and Meghan Markle because their two sons had since moved out and the property was too big for them both.
Lowe and Berkoff decided to downsize and invest in not just one but three smaller Montecito properties – a $ 13 million property in the same neighborhood as their old home, a 4,274-square-foot house from the 1990s Montecito’s main shopping street for $ 5.2 million and a four-bedroom beachfront mansion that they paid around $ 29 million for, according to the New York Post.
Few details of the deals have been released, but Lowe and Berkoff have decided to demolish the 5,800-square-foot home on the first lot and build something new on the 6.7-acre lot. Celebrities like Ellen DeGeneres and Katy Perry also reportedly bid on the second lot, but ultimately lost the couple’s $ 5.2 million offer.
Montecito had a decades-long reputation as a haven for Hollywood stars and the California over-the-top, and was back on the news when Harry and Meghan decided to make it their home after giving up their royal titles. The area is heavily guarded while real estate transactions are kept top secret by agents used to working with numerous nondisclosure agreements.
Lowe, who first rose to fame in the 1980s after playing Sodapop Curtis in Francis Ford Coppola’s classic coming-of-age film “The Outsiders”, played an important role as an adult on shows such as “Parks and Recreation” and “The West Wing”. In recent news, the second season of Fox’s problem-solving reality show “Mental Samurai” premieres on May 29th. Lowe is both a presenter and a producer.
Email Veronika Bondarenko