The Montecito mansion, which gained fame as the backdrop for Prince Harry and Meghan Markle‘s Netflix documentary, is having a hard time finding a buyer.
Despite a $3.5 million price cut, the $30 million property has failed to captivate potential buyers who have refrained from sealing the deal.
The 13,600-square-foot Spanish-style home, located close to Harry and Meghan’s actual residence, has been on the market for the past four years without success.
In fact, since its initial listing in August 2021 for $33.5 million, the house has been repeatedly pulled off and then put back on the market.
Nestled in an exclusive Santa Barbara neighborhood known for its celebrity residents, the property was delisted in November 2021, only to resurface for sale in March 2022.
Nine months later, it made a cameo in Netflix’s Harry and Meghan series, serving as the setting for the couple’s candid on-camera conversations.
While the mansion – complete with its own gym, theater, bar, game room, pool, and guesthouse – wasn’t showcased in detail, the exposure was expected to boost its selling prospects.
At that time, several media outlets highlighted that Harry and Meghan were merely guests at the mansion, emphasizing that the property was up for grabs.
After making headlines, house co-listing agent Ryan Malmsten shared with SF Gate, “Harry and Meghan did [their Netflix show] there, and I got bombarded by every newspaper in the world. It was supposed to be hush hush, and then the Daily Mail got wind of it, and it went ballistic.”
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Despite the surge in attention, the six-bedroom estate continued to linger on the market, and by May 2023, it was taken off the market again, remaining unsold for nearly a year before receiving a $3.5 million price reduction.
As of April 2024, the home has been listed for over 500 days without finding a buyer.
Malmsten confirmed that despite several near-sales, the house has yet to secure a permanent buyer, stating, “We’ve come close on several occasions to selling it. For whatever reason, that particular buyer chose something else.”
While Harry and Meghan’s presence in Montecito has generally boosted the local real estate market, this mansion hasn’t enjoyed the same success as other properties.
Malmsten believes the mansion’s failure to sell is not due to Harry and Meghan but rather its large size.
He explained the current market trend, saying, “Buyers today are wanting way less square footage. They’ll pay the same amount, but they want a smaller home. That’s a big challenge.”
The property’s listing describes it as, “Vast ocean views, flat grounds, luxe amenities, and incredible design coalesce at this iconic Montecito property. Flexible spaces both inside and out make this an intimate home for two yet can easily accommodate crowds of over 200.
“Living off the grid has never been more chic. Solar, a generator, greywater irrigation system, private well, organic vegetable bed and citrus orchards, chicken coops, and secret gardens define sustainable sensibility and offer an unparalleled piece of paradise.”
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.the-express.com ’
