Ellen DeGeneres is once again flipping million dollar homes like they’re playing cards. The talk show titan just unloaded her massive blufftop estate in Carpinteria, California, near Santa Barbara, for a whopping $96 million.
The buyer is Robert Friedland, a mining billionaire with a taste for real estate, according to the Wall Street Journal.
DeGeneres, who bought the luxury property less than two years ago for about $70 million, made a $26 million profit on the resale.
A few months ago, she and her wife, Portia de Rossi, spent $32 million to rehab a Santa Barbara mansion they sold to Friedland earlier this year for the same price.
Carpinteria, a celebrity magnet on the California coast, has attracted big names like George Lucas and Kevin Costner over the years.
DeGeneres’ former estate there spans 10 acres and features an 8,000-square-foot home complete with exposed wood beams, a cabana and a guest cottage.
The power couple snapped up the place from hedge fund guru Bruce Kovner in 2022, who had originally listed his 22-acre compound for $160 million before selling the lots.
Kovner still owns a neighboring piece of land, which he is trying to offload for $75 million.
The Carpinteria House is located on Padaro Lane, one of the most expensive and exclusive spots in the area.
Meanwhile, DeGeneres and de Rossi have also snapped up a 3-acre vacant property next to their reclaimed Santa Barbara estate for $6 million, adding even more land to their growing portfolio.
The property itself, a nearly century-old house sitting on 8 acres, fits right in with couples’ penchant for historic properties with a luxurious allure.
Friedland, the founder of Ivanhoe Capital, has been busy flipping through his holdings. He recently sold another Carpinteria property for $49.6 million, just a year after buying it for $46.9 million.
DeGeneres and de Rossi’s real estate empire isn’t slowing down anytime soon. In 2020, they dropped $49 million on a Montecito estate owned by comedian Dennis Miller and his model wife, Carolyn Espley-Miller.
As for the local market, Santa Barbara, Montecito and Carpinteria are on fire.
Single-family home prices in South Santa Barbara County rose 8% in the first half of 2024, with the median sales price reaching $2.265 million, according to Village Properties, cited by the Journal.
Sales volume also increased by 19% compared to last year.
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Image Source : nypost.com