At around 2pm PST on August 16, a home in Carpinteria, California hit the market. Carpinteria is just south of Santa Barbara. And actually, it's not a home. That's a bad description. Estate? Palace? Mansion? Compound? It's all those words rolled into one. It's an Estalacionpound (trademark pending).
If you happen to be the market for an Estalacionpound® in a picturesque beach town, I hope you also have extremely deep pockets. This property, which is known as "The Sanctuary at Loon Point" is currently listed for…
The Sanctuary at Loon Point was pieced together over 14 years by a hedge fund manager named Bruce Kovner and his wife Suzie. Bruce earned his $6.6 billion net worth as the founder of Caxton Associates. He founded the hedge fund in 1983, and over time it grew into one of the most successful funds in the world, returning tens of billions in profits to his investors.
Bruce and Suzie made their first purchase in Carpinteria in 2007. That year they went on a buying spree, dropping a total of $83.3 million for 15 acres. In total have spent more than $100 million compiling what is now a 22 acre compound. One of the sellers was Kevin Costner. Bruce and Suzie then spent another $50 million developing the land and renovating the existing structures.
On those 22 acres you will find two mansions (pictured above), both of which span 8,000 square feet. A 6.6 acre portion of the property (off to the right in the above photo) is undeveloped and could be zoned for a 12,000 square-foot future mansion if a new owner was so inclined.
The property features a citrus grove, rose garden, winding gated driveway, private beach access, library and much more. Both of the current homes have their own separate pools and cabanas.
You must watch this promotional video of the property. It's unlike anything I've ever seen:
The Kovners say they are selling because this has been A VACATION home for them!!!! and they prefer to spend more time on the east coast. That's their vacation home??!! And now that I look at the CNW archives, I see that back in 2017 Bruce and Suzie listed their Caribbean vacation home for $67 million. They found a buyer that same year but the final purchase price was not disclosed.
FYI, if you do buy the Kovner Carpinteria Estalacionpound, you will be living on the same block as Ashton Kutcher and Mila Kunis and George Lucas who owns two side-by-side mansions on this same block. Be sure to say hi and invite them over for a horseback ride or something!