Prince Harry and Meghan Markle’s billionaire neighbor has sold his $19million mansion
Prince Harry and Meghan Markle’s billionaire neighbor has sold his $19million mansion, making him the latest of the rich and famous Montecito, California, residents to exit since the ex-royals arrived.
Peter Sperling, son of University of Phoenix founder John Sperling and one of the 400 wealthiest Americans, sold his seven-bed, 13-bath property in the Duke and Duchess of Sussex‘s private Southern California neighborhood in April this year, deed documents show.
The billionaire heir also sold another mansion on a couple of streets over for $16.3million in February and his two sales follow actor Rob Lowe who also ditched his home in Meghan and Harry’s neighborhood in September last year.
Sperling was so keen to sell his Garden Lane home just a few doors down from Harry and Meghan that he reduced the price by a total $7.65million.
The home was originally listed at $26.75million, but the listing dropped by $4.25million last year to $22.5million, and eventually sold $3.4million under that, for $19.1million.
Prince Harry and Meghan Markle’s billionaire neighbor has sold his $19million mansion just yards from the royals
The home is just yards from the Duke and Duchesses’ property and sits on 5.56 acres of land
The billionaire’s departure makes him the latest of the rich and famous Montecito, California, residents to exit since the ex-royals arrived
The seven-bedroom estate has 13-bathrooms, a pool with a cabana and two separate one-bedroom guesthouses
Gwyneth Paltrow, Ellen DeGeneres as well as Oprah Winfrey also live nearby in the celebrity enclave
It was originally listed at $26.75million, but the listing dropped by $4.25million last year to $22.5million, and eventually sold $3.4million under that, for $19.1million
The home was bought by a trust whose trustee is financial analyst and LA lawyer Robert Gipson (pictured), managing partner of Gipson Hoffman & Pancione
The billionaire has been trying to sell the mansion since 2017.
Sperling and his wife Stephanie’s former $19.1million Garden Lane mansion, sold on April 6 2021, was bought by a trust whose trustee is financial analyst and LA lawyer Robert Gipson, managing partner of Gipson Hoffman & Pancione.
Gipson could now be the Sussexes’ newest neighbor – or could be a trustee for one of his clients who wished to purchase the home more anonymously.
Gipson is on the Board of Directors of Wolfgang Puck Worldwide and a member of the strategic planning group of World Gym International.
He has previously served on the board of the Sundance Institute, the organization behind the Sundance Film Festival.
Sperling’s former mansion was bought by The Owenshire Trust, of which Gipson is a trustee, documents filed with the Santa Barbara County recorder’s office show.
The trust took out a $12million mortgage on the property.
The home as a dual gated cobblestone circular drive, multiple entertaining rooms, 5-star professional chef’s kitchen, library and solarium
A gorgeous kitchen is pictured in the home and there’s also a movie theatre, two pools, outdoor kitchen, and guest house
The seller was so keen to sell his Garden Lane home just a few doors down from Harry and Meghan that he reduced the price by a total $7.65million
The home also has a ‘new secondary culinary arts kitchen the envy of any 5 star restaurant’, according to the listing
The listing calls the home a ‘legacy Estate in Montecito’s coveted Riven Rock redefining American Mansions’
The outside of the home shows three large doors leading out on to a patio area perfect for entertaining guests
The home next door to the couple comes complete with a pool and cabana; it was put on the market earlier this year
The staircase oozes elegance as the home is also near creeks, bridges and pathways perfect for families
One of the home’s reception rooms is pictured; The listing states: ‘Master suite to end all others replete w/ its own accessories boutique’
Actor Rob Lowe also ditched his home in Meghan and Harry’s neighborhood in September last year
Sperling is chairman of the University of Arizona’s parent company Apollo Group, and has several multi-million-dollar property investments.
According to Forbes he is worth $1.6billion and is among the 400 wealthiest people in America.
In 2015 he sold another Montecito estate formerly owned by actress Jayne Seymour for $10.5million.
Stars including Gwyneth Paltrow and Oprah Winfrey also own homes nearby.
A listing for the estate published last year claimed seven bedrooms and 13 bathrooms.
Listing showed potential buyers its pool with a cabana and two separate one-bedroom guesthouses. It also boasts ocean and mountain views and a gym.
According to Santa Barbara County records the 11,170sq ft home, built in 1999, sits on 5.56 acres of land, has nine fireplaces, and is just yards from the Duke and Duchesses’ property.
The April sale was substantially under the county’s 2021 net assessed value of $25,111,000.
A listing for the plush bolthole on Estately.com said: ‘Ocean/mountain views, lush lawns, citrus trees, verdant gardens, creeks, bridges and pathways framing a remarkable residence, setting the bar for luxury.
Harry and Meghan moved into their sprawling nine-bedroom and 16-bathroom mansion in upscale Montecito for $14.65million in June last year. Their neighbor’s yard is pictured
Harry and Meghan’s home sits on 5.4 acres of land; their neighbor’s home is pictured in a realtor’s listing
‘Cobblestone motor court introduces an exquisite English Country Architectural with indelible grace & stature.
‘Approximately 16,668 square feet of restored, renovated and newly constructed grandeur by famed luxury builder Van Acker Construction.
‘Featuring seven bedroom suites with 13 total bathrooms, an eight car subterranean auto gallery, two bay chauffeurs garage with three staff /security offices upstairs, two separate one-bed guest houses and separate staff laundry/restrooms/break room facilities.
‘Detached professional gym, play room, pool and pool cabana.
‘New secondary culinary arts kitchen the envy of any five star restaurant.
‘Master suite to end all others replete with its own accessories boutique.
‘See this and you’ve seen it all!’