A blog about the Santa Barbara beach real estate market
Kathleen Winter DRE 01022891 805.451.4663

New Montecito Beach Area Escrow Pending: 1104 Channel Drive

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1104 Channel Drive, an oceanfront home in Santa Barbara

New Montecito Beach Area Escrow Pending: 1104 Channel Drive

1104 Channel Drive, asking $32,000,000, has gone into escrow.

Listed by Berkshire Hathaway Luxury Properties, 1104 Channel Drive offers a 6,497 sq. ft. Contemporary 4 bedroom/5.5 bath home built in 2008, a large pool and spa, 746 sq.ft. pool cabana with fireplace, wet bar and full bath, together with a separate 640 sq.ft. gym with half bath and built-in refrigerator. The 1.13 acre property across the road from Butterfly Beach offers ocean, island and coastline views, is surrounded by a tall stucco wall with a gated pedestrian entrance and includes and a three-car garage.

For further information, please click here.

History of the Listing

1104 Channel Drive came on the market in August 2020 asking $32,000,000. It went into escrow in March 2021.

Previous Sales in the 2000’s

1104 Channel Drive was purchased in February 2007 for $25,000,000 while still under construction and not subject to its completion by the seller.

The history of 1104 Channel Drive during the 2000’s is as follows: 1104 Channel Drive and the adjacent 1127 Hill Road were owned by one party (“Segal”) who had bought the two properties for $6,000,000 in December 2000. In January 2007, having begun construction on 1104 Channel Drive, Segal sold 1127 Hill Road for $12,800,000. While still framing the new construction on 1104 Channel Drive, Segal accepted a $25,000,000 unsolicited offer to sell. In short, Segal’s $6,000,000 investment in 2000 became a $37,800,000 bonanza by 2007. (Thereafter, in September 2009, the current owner of 1104 Channel recombined the two properties by purchasing 1127 Hill Road for $11,000,000, later selling it off in March 2017 for $12,500,000. To view the further history of sales at 1127 Hill Road, please click here.)

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