×
You will be redirected back to your article in seconds

Craig McCaw Sells Montecito Escape to Former Fox CEO Gary Newman

Seller:
Craig McCaw
Location:
Montecito, Calif.
Price:
$12.2 million
Size:
4,179 square feet, 5 beds, 4.5 baths

Oceanfront properties near Montecito’s scenic Miramar Beach rarely trade hands, so it’s almost always a newsworthy event when they do —  and so it is with the transfer of a half-acre estate on coveted Fernald Point.

Built way back in 1900, the senescent compound was dramatically overhauled in the mid-2000s, then redone again following its May 2009 purchase by Seattle-based telecom billionaire Craig McCaw. Records show that McCaw — a bonafide real estate baller with a jealousy-inducing collection of lavish personal residences — forked out $8.3 million for the premises prior to renovations.

After exactly one decade of McCaw ownership, the sandy property has sold again — for a hefty $12.23 million. This time, the buyers are a Hollywood power couple: bigshot entertainment attorney Jeanne Newman and her longtime hubby Gary Newman, the former co-CEO of Fox Television Group.

With his longtime counterpart Dana Walden, Newman was widely credited for having transformed Fox into arguably the most successful studio in television. And on the heels of Disney’s 2017 gamechanging acquisition of 20th Century Fox, Newman was expected to remain at the so-called “New Fox” — and to continue building on his long success streak. But in a surprise move last October, he officially stepped away from the network, his abrupt exit reportedly the result of a contract length dispute.

Anyway, the new Newman spread features three separate structures — a 3-bed/2.5-bath, 3,300 sq. ft. main house, a wee guesthouse with two ensuite bedrooms, and a detached two-car garage just off the road out front.

The gated driveway runs parallel to a long hedgerow of manicured oleanders and a stately grassy lawn. The main house and guesthouse are set far back on the narrow, deep lot.

An enormous great room encompasses the upgraded kitchen, a formal dining area, and a fireplace-equipped family space all in one. Glass sliders lead directly to an al fresco dining deck and the sandy beach beyond. Elsewhere, the living room sports another fireplace and more glass sliders leading to other patios. The Moroccan-influenced decor is briefly interrupted by a sizable “Life’s a beach” sign on the mantle.

At least two of the main home’s bedrooms include fireplaces, and the upstairs master has a palm-shaded balcony with sea views. The backyard boasts 75 feet of ocean frontage and a wooden jacuzzi, plus a giant iron firepot with surround seating for six. A charming flowerbed border — daisies? — separates the private yard from the public beach beyond. Best of all, the property is just a short stroll down the coastline from Montecito’s ritzy Four Seasons and the brand-new Rosewood Miramar Hotel.

Now in their 60s, the Newmans also maintain a bucolic retreat up in the wine-friendly Santa Ynez County community of Solvang. Purchased for $3.45 million in 2005, that 20-acre estate is currently on the market with a $3.65 million ask — noteworthy features include a vineyard, barn, and a main house with southern plantation-style architecture. The couple’s main residence, however, is a Hollywood-pedigreed Art Deco-influenced estate they bought in 2011 for about $9 million.

Though the Montecito transaction closed off-market, the property had been listed last year by Riskin Partners of Village Properties. Kathleen Winter of Berkshire Hathaway HomeServices repped the Newmans.

More Dirt

  • Bella Thorne House

    Bella Thorne Snags Secluded Mountaintop Estate (EXCLUSIVE)

    Veteran actress, YA genre novelist, poetry writing memoirist andsocial media mogul Bella Thorne, who’s fearlessly assumed the squeaky clean young Disney star-turned-provocative wild child role once pioneered by Miley Cyrus and who frequently posts personal and racy images to her nearly 20 million followers on Instagram, has swapped her conventional suburban home in the San [...]

  • Jay Stein House

    Stein Mart's Jay Stein Hangs $29.5 Million Price Tag on Beverly Hills Modern

    Less than three years after their $22.5 million splurge on an ultra-slick Beverly Hills mansion, businessman Jay Stein and his longtime wife Deanie have officially flipped out, re-listing the rakishly attractive spread with a $29.5 million ask. Though it does not appear the avid midcentury photograph collectors have made any significant alterations to the .77-acre [...]

  • RuPaul House

    Drag Superstar and TV Host RuPaul Lists Home Above the Sunset Strip

    On the much-publicized heels of last week’s premiere of a three-week test run of a self-titled daytime talk show, uninymic drag superstar and budding showbiz mogul RuPaul has put his glamorously dressed, circa 1960s home high in Bird Streets nabe above L.A.’s Sunset Strip up for sale at a number so close to $5 million [...]

  • Simon Helberg House

    Simon Helberg Upgrades to Celeb-Pedigreed Pad in Los Feliz (EXCLUSIVE)

    Simon Helberg has marked the end of his long, lucrative run as one of the high-paid co-stars of the spectacularly popular megahit sitcom “Big Bang Theory” with the just shy of $6.9 million acquisition of a conscientiously restored and updated, early 1930s Spanish Colonial residence in one of the more coveted neighborhoods in L.A.’s Los [...]

  • Steve Kloves House

    Steve Kloves Lists Loft-Style West Hollywood Condo

    Screenwriter and occasional director Steve Kloves has put his West Hollywood condo up for sale at next to $1.2 million. Kloves, who wrote and directed the critically acclaimed box office disappointment “The Fabulous Baker Boys,” acquired the loft-style unit less than a year ago for just under $1 million dollars. The nearly 1,300 square foot, [...]

  • Byron Allen House

    Byron Allen Adds $20 Million Beverly Hills Mansion to Bulging Portfolio

    While he awaits the upcoming Supreme Court review of his high-profile $20 billion racial discrimination lawsuit against Comcast, media magnate Byron Allen has selected an upgraded location for residential relaxation. The owner and founder of billion-dollar Entertainment Studios — which owns The Weather Channel and Fox Sports Group, among other assets — has splashed out nearly [...]

  • BD Wong House

    BD Wong Buys Into Deconsecrated Brooklyn Heights Church

    Star of stage and screen BD Wong has picked up a $1.25 million duplex apartment in a deconsecrated Gothic Revival-style former Presbyterian church on a bustling corner in Brooklyn, N.Y.’s historic, charming and relatively affluent Brooklyn Heights neighborhood. First sussed out by the property gossips at the NY Post and listed with Terry Naini and [...]

More From Our Brands

Access exclusive content