It took two years but Rob Lowe has sold his sprawling custom-built Montecito mansion for $45.5 million.

The actor and his wife, jewelry designer Sheryl Lowe, put the home on the market in 2018 for $47 million before slashing the price to $42.5 million in August 2019. 

Just over a year later and the couple are reportedly closing on a deal to sell the estate for around $3 million more than the latest asking price, according to The Wall Street Journal.  

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Done deal: Actor Rob Lowe and his wife, jewelry designer Sheryl Lowe, have sold their 10,000 sq ft Montecito mansion in an off-market deal for $45.5 million

Done deal: Actor Rob Lowe and his wife, jewelry designer Sheryl Lowe, have sold their 10,000 sq ft Montecito mansion in an off-market deal for $45.5 million

Over asking: The Lowes put the home on the market in 2018 for $47 million before slashing the price to $42.5 million in August 2019

Over asking: The Lowes put the home on the market in 2018 for $47 million before slashing the price to $42.5 million in August 2019

Jack McGinley, a retired healthcare private-equity executive, and wife Julie McGinley, are the new owners, according to sources familiar with the off-market deal. The property listing was pulled in March 2020. 

It’s reported that the McGinleys put their Massachusetts home up for sale in August, asking $18.9 million, after deciding to spend more time in California.  

And the Lowes’ stunning property will feel like home with its East Coast architecture and colonial/ contemporary-inspired style.

The mansion, called the Oakview Estate, is located in the super exclusive enclave of Montecito, near Santa Barbara, California, with neighbors such as Ellen DeGeneres, Oprah Winfrey and more recently Prince Harry and Meghan Markle.  

The mansion, called the Oakview Estate, is located in the super exclusive enclave of Montecito, near Santa Barbara, California, with neighbors such as Ellen DeGeneres and Oprah Winfrey

The mansion, called the Oakview Estate, is located in the super exclusive enclave of Montecito, near Santa Barbara, California, with neighbors such as Ellen DeGeneres and Oprah Winfrey  

There is no shortage of space to prepare food in the Lowes' Montecito estate

There is no shortage of space to prepare food in the Lowes’ Montecito estate

Next to the exquisite kitchen is a smaller dining area with enough space to keep a round table that sits eight people

Next to the exquisite kitchen is a smaller dining area with enough space to keep a round table that sits eight people

In the guest house building on the property, a smaller dining area is just off the kitchenette, and flooded with natural light

In the guest house building on the property, a smaller dining area is just off the kitchenette, and flooded with natural light

There's also a formal dining room for when you'd like to have a more proper meal with large group, with a fireplace featured

There’s also a formal dining room for when you’d like to have a more proper meal with large group, with a fireplace featured

The Lowes built their dream home in 2005 after purchasing the land for $7.5 million and even brought in a feng shui master to create the perfect flow of energy.

But now, with their sons grown up and having moved out, the Lowes do not need all of the space encompassed by the 20 rooms spread over close to 10,000 square feet.

The main part of the house boasts six bedrooms, a formal dining room and a formal living area, an office, a film screening room, and a piano bar. 

The new owners of the Montecito pad won’t be wanting for unique personality in the property, or space for their visitors, with a separate guesthouse. 

Rob Lowe is seen here with his two sons, Matthew and Johnny, and his wife and jewelry designer Sheryl. Both boys are now out of the house which is reportedly the reason the Lowes decided to sell in 2018

Rob Lowe is seen here with his two sons, Matthew and Johnny, and his wife and jewelry designer Sheryl. Both boys are now out of the house which is reportedly the reason the Lowes decided to sell in 2018

Fireplaces are a theme on the Lowe property, with a smaller one than featured elsewhere making its way into the guest house

Fireplaces are a theme on the Lowe property, with a smaller one than featured elsewhere making its way into the guest house

And there's another fireplace sighting in this casual dining environment, which again features plenty of windows to let in light

And there’s another fireplace sighting in this casual dining environment, which again features plenty of windows to let in light

This bedroom which is part of the pool house is simple in design for the no frills lifestyle of stepping right out in the water

This bedroom which is part of the pool house is simple in design for the no frills lifestyle of stepping right out in the water

Another bedroom keeps things similarly simple, with white walls and white built in furniture, and keeping a big window

Another bedroom keeps things similarly simple, with white walls and white built in furniture, and keeping a big window

This bedroom, likely in the guest house, has multiple beds, perhaps in case a family with little ones comes over to stay

This bedroom, likely in the guest house, has multiple beds, perhaps in case a family with little ones comes over to stay

Another bedroom, also probably in the guest house, has  a decidedly more mature tone with  white walls and dark accents

Another bedroom, also probably in the guest house, has  a decidedly more mature tone with  white walls and dark accents

Beautiful hardwood stairs take those who live in the home and guests alike up to the second floor of the sprawling mansion

Beautiful hardwood stairs take those who live in the home and guests alike up to the second floor of the sprawling mansion

Once upstairs, the view is books and books and books, for as far as the eye can see down the lofted hallway

Once upstairs, the view is books and books and books, for as far as the eye can see down the lofted hallway

The main house includes a screening room with plenty of space for both individual and group seating and be entertained

The main house includes a screening room with plenty of space for both individual and group seating and be entertained

The guesthouse itself features two bedrooms and its own kitchenette. That’s to say nothing of the pool house, which spans 800 square feet and includes a full kitchen and one more bedroom.

In addition to the pool, there’s a fire pit so residents can enjoy cooler days and nights. 

Special features that were also added specifically to suit the Lowes’ tastes include a wine cellar and multiple terraces for enjoying the always optimal California weather.

For those who are more actively inclined, there’s a tennis court that comes complete with two observation areas, so you can pick a side and separate yourself from the opposition’s cheerleaders.  

To add to the good energy and harmony throughout, the estate also features a reflecting pool, koi pond and vegetable garden. 

In addition to Oprah, the Lowes are also neighbored by Ed Glazer, who owns the Tampa Bay Buccaneers, according to property records, as well as Jeff Bridges.  

This formal living room features a fireplace to stay cozy even of the rare nights it gets cool in California 

This formal living room features a fireplace to stay cozy even of the rare nights it gets cool in California 

The more casual living space also features a fire place with a window on one end of the room with a bench seat to look outside

The more casual living space also features a fire place with a window on one end of the room with a bench seat to look outside

In addition to the screening room, the main house on the property boasts six bedrooms, an office, and a piano bar (shown)

In addition to the screening room, the main house on the property boasts six bedrooms, an office, and a piano bar (shown)

Here's another angle of Mr. Lowe's piano bar, where past guests could kick up their heels and enjoy the company of the singer

Here’s another angle of Mr. Lowe’s piano bar, where past guests could kick up their heels and enjoy the company of the singer

This eclectic room features a portrait of a woman wearing a large hat to set off the dark walls and furniture

This eclectic room features a portrait of a woman wearing a large hat to set off the dark walls and furniture

One of the bathrooms on the property echoes those same dark tones on the walls pictured previously, with a white counter

One of the bathrooms on the property echoes those same dark tones on the walls pictured previously, with a white counter

One special feature that was added specifically to suit the Lowes' tastes included a wine cellar with ample space 

One special feature that was added specifically to suit the Lowes’ tastes included a wine cellar with ample space 

The Lowes certainly know how to stock a pantry, with more storage than most could probably ever think of how to use

The Lowes certainly know how to stock a pantry, with more storage than most could probably ever think of how to use

The Lowes decided they were ready to move on from the property now their sons are grown up and have moved out, according to the Wall Street Journal

‘We’re looking forward to our next real estate adventure,’ the star of The West Wing said in a statement in 2018.

In 2016, Mrs. Lowe gushed over the property that they built from scratch in an interview with Architectural Digest.

‘Like Rob, I loved the idea of a big lawn rolling up to an understated manor house perfect for mud boots or high heels,’ she said. 

Mr. Lowe has mentioned that food is very important to his family, so it's  not surprise that one kitchen is full of stainless steel

Mr. Lowe has mentioned that food is very important to his family, so it’s  not surprise that one kitchen is full of stainless steel

Different styles of kitchens are a staple in the three buildings on the property, with this one looking both Victoria and rustic

Different styles of kitchens are a staple in the three buildings on the property, with this one looking both Victoria and rustic

The pool house, which spans 800 square feet and includes a full kitchen and one more bedroom, adds plenty of appeal

The pool house, which spans 800 square feet and includes a full kitchen and one more bedroom, adds plenty of appeal

This living area is much more casual than others we've seen, accented with tables made from tree trunks and lots of light

This living area is much more casual than others we’ve seen, accented with tables made from tree trunks and lots of light

One piano room just wasn't enough for Mr. Lowe, so he snuck another one, in what looks to be part of the guest house

One piano room just wasn’t enough for Mr. Lowe, so he snuck another one, in what looks to be part of the guest house

No one will ever go without a seat in this expansive house, if the Lowes leave the furniture for the new owners, that is

No one will ever go without a seat in this expansive house, if the Lowes leave the furniture for the new owners, that is

One serene escape on the expansive Montecito property features a koi pond stocked with the majestic fish

One serene escape on the expansive Montecito property features a koi pond stocked with the majestic fish

A closer shot of the koi pond reveals that if you follow its path you'll eventually end up in another small garden, down the way 

A closer shot of the koi pond reveals that if you follow its path you’ll eventually end up in another small garden, down the way 

The home comes equipped with its own gym, in case the new owners don't get enough exercise by walking the grounds

The home comes equipped with its own gym, in case the new owners don’t get enough exercise by walking the grounds

To add to the good energy and harmony throughout the landscape, the estate also features a reflecting pool and koi pond

To add to the good energy and harmony throughout the landscape, the estate also features a reflecting pool and koi pond

It doesn't get much more peaceful than this simple, wooden swing hanging from a tree, somewhere secluded on the estate

It doesn’t get much more peaceful than this simple, wooden swing hanging from a tree, somewhere secluded on the estate

Outdoor space was very important to the Lowes, and the estate includes a lot of it, like this porch featuring ping pong tables

Outdoor space was very important to the Lowes, and the estate includes a lot of it, like this porch featuring ping pong tables

Plenty of tables and chairs overlook the lush lawn on the Lowes' property, making it perfect for those that love the outdoors

Plenty of tables and chairs overlook the lush lawn on the Lowes’ property, making it perfect for those that love the outdoors

From every angle, this home is focused on entertainment, as can be seen here where a TV is featured outside to appease all

From every angle, this home is focused on entertainment, as can be seen here where a TV is featured outside to appease all

This aerial view of the Lowes' estate showcases how expansive and lush and green it is, with its tennis court and viewing areas

This aerial view of the Lowes’ estate showcases how expansive and lush and green it is, with its tennis court and viewing areas

‘Building from scratch, I could finally have everything we’ve experienced, loved, wanted to have or do under one roof—a meld of our personalities.’    

‘Besides sleeping, my husband’s favorite things are reading, writing and music,’ Mrs. Lowe said.

‘Who else would have a piano bar? My mantra was that it reflects my non-conformity: a black, white and gray palette, lots of different rooms for the gypsy in me who has traveled the world. And loving entertainment, I wanted a place not so much to entertain friends as ourselves.’ 

One viewing area overlooking the tennis courts is shown here, covered in greenery as is the rest of the property

One viewing area overlooking the tennis courts is shown here, covered in greenery as is the rest of the property

The estate in Montecito is incredibly lush and green, with gardens that also include vegetables planted on the property

The estate in Montecito is incredibly lush and green, with gardens that also include vegetables planted on the property

Another garden area is framed by well-manicured bushes and features a pathway that leads you right up to the flowers

Another garden area is framed by well-manicured bushes and features a pathway that leads you right up to the flowers

The expansive estates of the Lowes is full of creative nooks and crannies that will no doubt leave new owners in surprise

The expansive estates of the Lowes is full of creative nooks and crannies that will no doubt leave new owners in surprise



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