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Famed El Fureidis Estate Reduced to $17.9M A Significant Price Adjustment for Historic Montecito Property

The historic El Fureidis estate in Montecito recently returned to the market with a $17.1 million dollar price reduction, a 49% reduction from its 2014 offering price of $35 million.

Represented by Riskin Partners and Emily Kellenberger of Village Properties Realtors, Santa Barbara’s exclusive affiliate of Mayfair International Realty, the famed estate is one of the area’s most notable properties. El Fureidis – “tropical paradise” – was designed by renowned architect Bertram Goodhue and built in 1906 for James Waldron Gillespie. Goodhue’s works include the Los Angeles Central Library, Saint Thomas Church in New York City, the Nebraska State Capitol, and the Chapel and original campus of the U.S. Military Academy at West Point.

The estate encompasses over 10 acres with multiple reflecting pools, Persian gardens and a 9,816 square foot Roman villa which recently underwent a multimillion-dollar renovation. The residence boasts an expensive rooftop terrace, which overlooks the elaborate gardens and ocean and island views.

Throughout its history, El Fureidis has hosted many memorable tenants and visitors, including Thomas Mann, Albert Einstein, Winston Churchill, Charles Chaplin, and John F. Kennedy. It is perhaps best known in recent years as a location for the 1983 film “Scarface,” and the wedding scene of Michele Pfeiffer and Al Pacino.

Why the significant price reduction?

“This is a one of a kind trophy property. The competitive list price represents an exceptional value,” said listing agent Dina Landi, “The owner is ready to sell and is looking for an offer.”

ABOUT RISKIN PARTNERS
Riskin Partners, a luxury division of Village Properties Realtors, the area’s exclusive Mayfair International Realty affiliate, is the #1-selling luxury real estate team in the exclusive areas of Montecito, Hope Ranch, Carpinteria and Santa Barbara. Proudly representing properties of distinction, Riskin Partners closed over $194 million in 2014, making them yet again the top-selling real estate team in the area. No one understands high-end real estate, and the needs of luxury home buyers and sellers, like Riskin Partners. For more information about Riskin Partners or their listings go to: http://www.riskinpartners.com

ABOUT EMILY KELLENBERGER
Emily Kellenberger of Village Properties Realtors, an exclusive affiliate of exclusive Mayfair International Realty, is a top-producing realtor in the exclusive areas of Montecito, Hope Ranch, Carpinteria and Santa Barbara, and ranked in the top 1% of real estate agents nationwide. Emily brings her many years of real estate experience, including real estate finance, sales of luxury residential and commercial property, expertise on vacant land sales, and large development consulting experience, as a direct contribution to the success of her clients on their marketing and acquisition of select properties. For more information about Emily Kellenberger or her listings go to: http://www.emilykellenberger.com.