New Padaro Lane Blufftop Price Reduction: 2825 Padaro Lane
The asking price of 2825 Padaro Lane has just been reduced from $55,000,000 to $49,000,000.
Listed by Coldwell Banker Property Shop, 2825 Padaro Lane is a 10.25 acre blufftop property with approximately 505′ of ocean frontage, beach access, a shared water well and panoramic coastline and mountain views. This is a 10.25 acre portion of the 17.25 acre property formerly known as “Rancho Carinoso.” There is a small 2 bedroom/1 bath cottage built in 1940 on the property.
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History of the Listing
2825 Padaro Lane came on the market in February 2017 asking $60,000,000. Its price was reduced to $55,000,000 in July 2017 and $49,000,000 in January 2018.
Previous Sales in the 2000’s
Prior to being subdivided, the entire 17.25 acre “Rancho Carinoso” property at 2825 Padaro Lane sold in March 2006 for $28,500,000. Though it took until December 2009 to complete the requisite lot line adjustment, during 2007 a deal was struck to sell off 7 acres of the 17.25 acre parcel for $25,000,000 to the next door neighbor (who had purchased the neighboring property in 2007 for a whopping $83,275,000.) The remaining 10.25 acre property is now being sold, asking $49,000,000.
