California’s priciest property is a $160-million compound in Carpinteria
California’s most expensive residential property isn’t found in Los Angeles County or the Bay Area, but the low-key beach city of Carpinteria. In the small oceanfront community, a 22-acre spread known as the Sanctuary at Loon Point just surfaced for sale at $160 million.
According to the Multiple Listing Service, the titanic price tag makes it the most expensive property in the state, beating out a $135-million retreat up for grabs in Woodside and a $115-million glass mansion listed in Malibu.
If it gets its price, it will rank as California’s second-highest home sale ever. The current crown belongs to Jeff Bezos, who paid $165 million for David Geffen’s famed Warner Estate in Beverly Hills last year.
The Carpinteria compound is owned by Bruce Kovner, an investor and hedge-fund manager who serves as chairman of the board of the Juilliard School. Crawling across 22 acres of coastal bluffs, the staggering estate was assembled over the course of 14 years and consists of five parcels.
The Southern California median home prices rose 17% to a record high in July, though there are some signs the market is cooling.
Two custom homes occupy the residence, combining for 10 bedrooms and 21 bathrooms across more than 14,000 square feet. They’re connected by a private, gated road with a security checkpoint, and both open to stone patios overlooking the ocean from the edge of a bluff.
Shaped like a “U,” one house opens to a loggia that wraps around a swimming pool and spa. Off to the side, there’s a fire pit surrounded by built-in seating.
Views are the main attraction in the other home, as arched walls of glass line the living spaces and take in views of the coast. Out back, a stone pathway descends to the beach.
Other celebrities who’ve flocked to the secluded coastal community include Ellen DeGeneres, Portia de Rossi and Kevin Costner. Earlier this year, Bryan Cranston sold his eco-friendly beach house in nearby Mussel Shoals for $5.45 million.
Mauricio Umansky and Eric Haskell of the Agency hold the listing.