New Montecito Beachfront Escrow Closing: 1623 Posilipo Lane
1623 Posilipo Lane has closed escrow for $11,950,000.
1623 Posilipo Lane is a charming but modest 920 sq.ft. 2 bedroom/2 bath redwood cottage built in 1919 along with a 1 bedroom/1 bath guest cottage on the sand in Montecito. Cherished for generations by the same family, this property offers 180º ocean, island and coastline views and is steps from the Rosewood Miramar Beach Resort on 0.19 acres with 39′ of beach frontage.
History of the Listing
1623 Posilipo Lane came on the market in August 2025 asking $12,500,000. It went into escrow about a week later amidst multiple offers, but fell out shortly thereafter. Then it popped back in escrow in October, closing in November for $11,950,000.
Sales since 2000
None.
