Perched atop the rugged California coastline, a striking Mediterranean estate is back on the market after attempts to sell it off piecemeal. The sprawling Carpinteria compound, dubbed The Sanctuary on Loon Point, was custom-built for financier Bruce Kovner across 22 secluded acres. It comprised two homes and initially hit the market for $160 million. One of the homes was listed last spring for $55 million but included five acres only. It has now returned on a larger scale, offering 12 acres across three parcels and seeking a buyer willing to pay its current $75 million asking price.
This is no ordinary luxury listing. Kovner spent 14 years assembling the compound, acquiring neighboring plots to complete his grand vision. The resulting estate is a contemporary work of art fusing Mediterranean style with breezy California living. There are five bedroom and nine bathrooms. Arches, hand-scraped floors and Spanish details complement open, airy interiors awash in reclaimed materials across 10,902 square feet. Folding walls of glass connect to sprawling patios and gardens oriented toward Pacific vistas. Even the landscape design evokes a romantic dialogue between nature and human craft.
Few homes can match the ambition and achievement of Kovner’s coastal utopia. But the discerning buyer willing to pay its lofty price may find their own sanctuary in this masterfully designed retreat. Its blend of privacy, luxury construction and natural beauty creates a one-of-a-kind waterfront oasis custom-tailored for the elite buyer seeking a truly exceptional home. For those with the means, it may be the ultimate expression of attainable paradise by the sea.
Kovner’s net worth is $7.7 billion, per Forbes.
