Historic Montecito Estate Hits the Market for $29.95 Million After a Masterful Refresh
Originally built in the 1920s, the Spanish Colonial estate now known as La Paloma has been thoughtfully reimagined into a boutique-resort-style sanctuary
A 1920s Spanish Colonial estate in Montecito, originally designed by architect Mary McLaughlin Craig as Slater House 1, has hit the market following a thoughtful renovation. Listed for $29.95 million, the property, which was once named La Macarena but is now known as La Paloma, was restored and reimagined as a boutique-resort-style sanctuary by real estate developer and current owner Xorin Balbes. The sprawling estate boasts eight bedrooms and nine and a half baths across 8,775 square feet and two floors.
Located at 680 Buena Vista Drive, this listing is a blend of old and new. “For me, it’s really important to honor the architect from the original architecture and bring in what’s needed today for people to live in this current century,” Balbes told Galerie.
According to the listing, this historic dwelling is “a collection of intimate spaces with ocean, island, and mountain views.” Other design elements include vine-covered courtyards, terracotta roofs and floors, antique Portuguese lighting, hand-hewn beamed ceilings, cream-colored plaster walls, and views of the Pacific Ocean, Channel Islands, and Santa Ynez Mountains. Additionally, there is a motor court with room for up to 15 vehicles.
Balbes’s restoration of the home, in partnership with Blue Studio, was meant to evoke the ambiance of a European village, as it features everything from gardens and a pool to a pickleball court and a sauna. He spent $9.5 million on the renovation in 2024. “The thing about this house is you actually live outside as much as you live inside, which is very different from any other house I have ever lived in,” Balbes added.
Highlights of the home include an ocean-view terrace, a kitchen complete with two La Cornue ranges and Sub-Zero fridges, three butler’s pantries, a wine cellar, a meditation room, a primary suite with its own balcony, and a soaking tub. Additionally, there is a two-bedroom, two-bath pool house and a one-bedroom, one-bath guest cottage.
The estate is listed by the Kogevinas Group with Sotheby’s International Realty – Montecito Brokerage.