Dec. 31--Montecito has long attracted magnates and billionaires, such as noted resident and media mogul Oprah Winfrey.
Now a more than 340-acre trophy property set high atop the Santa Barbara County community in the Santa Ynez Mountain foothills has come on the market at $77 million.
Known as Mar y Cel, meaning "sea and sky" in Spanish, the parcel is one of the last remaining residential sites of its kind where a single estate akin to Hearst Castle in San Simeon or a multihome enclave could be built.
Early owner Henry E. Bothin, who made his fortune in spice and coffee, discovered natural water caves on the property. He had stonemasons create aqueducts and an array of cascading waterfalls and fountains that flow into reservoirs and pools. Also added was an open-air piazza. The features became known as the Tea Gardens and Tea House.
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Views from the more than 10 buildable lots take in the coastline, ocean and outlying islands. Conservation land sits along the back side of the property assuring that no one can ever build above the site.
Joanne Halpern and Terri Harkins of Vista Sotheby's International Realty, in association with Parris Real Estate Group, are the listing agents.
