New Montecito Beachfront Escrow Pending: 1685 Fernald Point Lane
After 1-3/4 years on the market listed by Sotheby’s International Realty, most recently asking $24,000,000, 1685 Fernald Point Lane has gone into escrow.
Situated on 2 beachfront parcels 3 completely usable flat acres with a vast 240′ of beach frontage, 1685 Fernald Point Lane is by far the largest Southern facing beachfront property in the entire Santa Barbara area. All of the structures are extremely dated, but the land is incomparable. The main house was built in 1920 and consists of 7,309 sq.ft. There is also a 2 bedroom/1 bath guest house, tennis court, pool and beachside cabana.
History of the Listing
1685 Fernald Point Lane was originally listed in August 2012 asking $28,000,000. Its price was reduced to $26,000,000 in July 2013, and reduced again at the end of March 2014 to $24,000,000. It went into escrow in April 2014.
