New Montecito Beachfront Escrow Closing: 1603 Posilipo Lane
1603 Posilipo Lane, on the sand in Montecito, has closed escrow in a private sale for $22,000,000.
1603 Posilipo Lane is a 2-story 3,650 sq.ft. 3/4.5 English Tudor built in 1988 with 3 fireplaces, den, office, guest house and detached 2 car garage. The 0.40 acre parcel has 106′ of beach frontage and is adjacent to a flume.
Note: The photos herein are from a listing of the property in 2009, but my understanding is that they accurately reflect how the property still looks.
History of the Listing
1603 Posilipo Lane closed escrow in March 2025 for $22,000,000 without ever coming on the market.
Sales since 2000
None.
