tomo logo

$5,995,000

Beds
6
Baths
6.0
sq ft
Unknown

789 Park Ln, Santa Barbara, CA 93108

789 Park Ln

Montecito, CA 93108

  • Pending
    • Price drop $704,999↓
Located on an original site of the streets namesake Dr. Charles Caldwell Park originally built in 1928, a rare opportunity awaits to purchase 789 Park Lane, Montecito, 93108. An extraordinary opportunity where the meeting of prestigious and coveted Park Lane and East Mountain Drive. As you turn this site into this surreal slice of heaven. Listen to the birds chirp and pass by horses in the distance meandering in the large pasture across the roadway. This property upon completion will feel as though you live in your own 2 acre park with mature oaks, privacy hedges, olive grove and sustainable gardens. Designed by the renowned architect Britt Jewett AIA this brand new Spanish Revival Colonial 5BR, 5BA main house PLUS media room, study, gym, wraparound outdoor verandas, terraces, casita and roof deck with Ocean Views is a masterpiece in the making. Additional amenities; the swimmers pool, fountains, 7-car garage and guest house. Located within the most sought after Montecito Union School District. OFFERS DEADLINE FRIDAY MARCH 14 5PM.

Details

Property type

Single Family Residence

Est. home value

$8,520,802

Property condition

Under Construction

Lot size

1.65 acres

Price per sq ft

Unknown

Year built

Unknown

HOA

No

Price History

04/03/2025
CLAW

CLAW #25507964

Pending
$5,995,000
03/25/2025
CLAW

CLAW #25507964

Price change
$5,995,000
-10.52%
03/09/2025
CLAW

CLAW #25507964

Listed
$6,699,999
+27.62%

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Val Chris Investments Inc

Loan start date

January 2023

Original loan amount

$1,100,000

Est. remaining balance

Not provided

Interest rate

6.31%

Loan type

Commercial

Seller

Mir Jafer Ali Joffrey and The Mir Jafer Ali Joffrey Trust

Lender

Axos Bank

Loan start date

May 2021

Original loan amount

$3,150,000

Est. remaining balance

$2,892,005

Interest rate

3.13%

Loan type

New Conventional, 30 year

Seller

Mir Jafer Ali Joffrey and Mir Jafer Ali Joffrey Trust

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Pending/Under Contract

Tomo last checked: 04/04/2025 at 5:15 AM

Listing updated: 04/03/2025 at 2:51 PM

Listed by: Lisa Sorrentino, Rodeo Realty Phone #: (310) 924-3130

MLS: CLAW #25507964

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