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Meg Ryan Flips Montecito Estate for Huge Profit, Buys Again
Well, that was fast. Only about 18 months after she bought a $5 million home in the laidback but endlessly posh Santa Barbara County neighborhood of Montecito, Meg Ryan is already done with the place. Records reveal she’s quietly sold the house in an off-market deal for a whopping $13.3 million. For any math-challenged folks, that’s an $8.3 million profit before renovation fees, carrying costs, taxes and realtor commissions. The big-bucks flip was first reported by Siteline Santa Barbara.
And yes, the “Sleepless in Seattle” actress did renovate the place during her brief ownership, despite the fact it had already been fixed up just prior to her purchase. She worked with prolific local design-build firm Becker Studios to reimagine the previously modern farmhouse-style estate into a so-called contemporary “jewel box of architectural features.” Those upgrades involved copious amounts of white paint, all-new fixtures, gorgeous floor-to-ceiling banks of windows and a rather stunningly overhauled kitchen.
Per records, the spendy buyer is Gwen Campbell, a former Goldman Sachs banker who’s now a high-profile managing director at J.P. Morgan in San Francisco. Campbell leads her own team of wealth advisors and is herself one of the top-ranked female wealth advisors in the country, per Forbes. Besides her new Montecito getaway, she also maintains a $6 million main residence in San Francisco’s sexy and wealthy Marina neighborhood.
The below photos show Ryan’s renovations. The property still retains its three bedrooms and 3.5 bathrooms, sublime mountain views from the backyard, an outdoor fireplace and sparkling swimming pool. There’s also a “hidden” patio for al fresco dining that’s shaded by ancient oaks, organic vegetable garden and an assortment of fruit and avocado trees.
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