Advertisement

Astros owner Jim Crane sells Pebble Beach home at a huge discount

Astros owner Jim Crane originally sought $37.9 million for his Pebble Beach compound.
Astros owner Jim Crane originally sought $37.9 million for his Pebble Beach compound. The 9-acre property sold this week for $21 million, records show.
(David J. Phillip / Associated Press)

Houston Astros owner Jim Crane has unloaded a base on the Monterey Peninsula, selling his home in Pebble Beach for $21 million. That’s a roughly 45% discount from the original 2017 asking price of $37.9 million.

Taking in views from Carmel Bay up to Pescadero Point, the gated property includes a three-bedroom main house, a caretaker’s cottage and a guest/pool house that combine for eight bedrooms, 11 bathrooms and about 11,900 square feet of space. The wooded grounds encompass more than 9 acres.

The single-story main house was originally designed by San Francisco architect Germano Milono. High ceilings, stone accents and wood finishes are among features of the home, which has a wine cellar, a den/office and a library. A wall of windows in the living room takes in the ocean.

Advertisement

Crane, 66, bought the property in 1998 for $5.5 million, public records show.

The Houston-based businessman is the chairman and chief executive of Crane Capital Group. He acquired the Astros from Drayton Mclane in 2011 for a reported $680 million.

Nicholas Glaser of Carmel Realty Company was the listing agent. Peter Butler, also with Carmel Realty, represented the buyer.


Advertisement