Overflowing with original character and style, this 1920s Spanish Colonial Revival residence in the affluent seaside enclave of Montecito has undergone an extensive makeover courtesy of prolific real estate developer and designer Xorin Balbes. Balbes acquired the estate, known as La Macarena, in early 2024 for $9.5 million. His subsequent renovation, which he describes as a "careful reawakening that honors craftsmanship, proportion, and historic integrity while elevating the home for today," has now brought the reimagined property back to the market with an asking price of just under $35 million. The prestigious listing is held by the Kogevinas Group of Berkshire Hathaway HomeServices California Properties.
A Legacy of Design and Restoration
The property, originally constructed in the late 1920s by Mary McLaughlin Craig, a pioneering female architect, stands as a testament to the enduring appeal of Spanish Colonial Revival architecture. Craig, known for her significant contributions to architectural design in California, envisioned the estate, then named Slater House I, as a luxurious retreat. Nearly a century later, Xorin Balbes, a developer with a distinguished track record of revitalizing architecturally significant properties across Southern California, has undertaken the monumental task of breathing new life into this historic gem. His portfolio includes the renowned Sowden House, a Lloyd Wright-designed neo-Mayan structure, and a 1920s Venetian-inspired villa formerly owned by Hollywood actress Norma Talmadge, both located in Los Angeles’s Los Feliz neighborhood. Balbes’s approach emphasizes a deep respect for historical context, aiming to preserve the original spirit of a home while integrating modern amenities for contemporary living. This philosophy is clearly evident in the meticulous restoration of La Macarena.
Architectural Grandeur and Modern Comforts
Nestled behind protective walls and gates on a two-acre hillside parcel in Montecito, La Macarena commands breathtaking panoramic views of the Pacific Ocean, the Channel Islands, and the Santa Ynez Mountains. The estate’s striking white stucco facade and classic red tile roof are immediately captivating. Upon arrival, visitors are greeted by a spacious motor court with ample parking for up to 15 vehicles, leading to the grand main residence.
The main house itself spans approximately 7,000 square feet across two levels and features four bedrooms and five bathrooms. Throughout the interior, the restoration has painstakingly preserved original architectural details. Terracotta floors, hand-plastered walls, and hand-hewn beamed ceilings evoke the home’s rich history, while antique Portuguese lighting fixtures add a touch of Old World charm. Modern conveniences have been seamlessly integrated, including a sophisticated whole-house sound system, ensuring that the estate offers the best of both historical ambiance and contemporary functionality.
The heart of the home is a magnificent step-down living room, complete with one of the property’s nine fireplaces. This elegant space flows effortlessly into an adjoining bar room, perfect for entertaining. A cozy den provides a more intimate setting and opens onto a terrace offering spectacular ocean views. The expansive eat-in kitchen is a chef’s dream, outfitted with dual La Cornue ranges, Sub-Zero refrigerators, and complemented by three butler’s pantries and a dedicated wine cellar, facilitating grand-scale entertaining.
The secluded upstairs primary suite is a private sanctuary, featuring a personal balcony, a dedicated meditation room, and a luxurious en-suite bathroom equipped with a steam shower, a deep soaking tub, and an expansive custom closet. The careful reawakening of this space ensures a blend of tranquility and opulence for its occupants.
An Estate Designed for Leisure and Entertainment
Beyond the primary residence, the sprawling grounds of La Macarena offer an unparalleled array of amenities for recreation and relaxation. The estate is meticulously landscaped with Santa Barbara-inspired plantings, flourishing citrus and avocado trees, and layered gardens that create a sense of serene beauty. Numerous courtyards and terraces provide private outdoor retreats and spaces for al fresco dining.
For active pursuits, the property boasts a championship-level pickleball court, complete with a trellised viewing patio. The centerpiece of the outdoor living experience is a large rectangular swimming pool, complemented by a spa and a Baja shelf for leisurely lounging.
The estate also provides exceptional guest accommodations. A detached office suite includes a bedroom and a bathroom, offering a private workspace. A well-appointed pool house features two bedrooms, two bathrooms, its own kitchen, and a living area with a fireplace, making it ideal for extended family or visiting friends. Additionally, a charming one-bedroom, one-bathroom guest cottage includes a dedicated potting room, adding to the estate’s versatility.
An impressive entertainment pavilion further elevates the estate’s offerings, featuring a state-of-the-art movie theater, a fully equipped gym, a sauna, a cold plunge pool, and an open-air bar, creating a resort-like atmosphere within the confines of the property.
Strategic Location and Market Context
The sale of La Macarena comes at a time when the Montecito real estate market continues to attract significant attention from discerning buyers. The affluent seaside enclave is renowned for its privacy, natural beauty, and exclusive lifestyle. The estate’s location offers the best of both worlds: a secluded sanctuary with convenient access to Montecito’s Lower Village, renowned dining establishments, boutique shopping, and the picturesque coastline. The proximity to these amenities, combined with the estate’s exceptional features and historical significance, contributes to its substantial asking price.
The $35 million valuation reflects not only the property’s size and prime location but also the significant investment and design expertise brought forth by Xorin Balbes. His meticulous restoration has undoubtedly enhanced the home’s value and appeal, transforming it into a contemporary masterpiece that respects its rich past. This pricing strategy aligns with recent high-value transactions in the Montecito area, where unique and historically significant properties, especially those updated to meet modern luxury standards, command premium prices. For instance, a modern Montecito home designed by Mexican architect Manuel Cervantes recently listed for $20 million, and another modernist residence by pioneering architect Lutah Maria Riggs was listed for $18 million, highlighting the robust demand for architecturally significant homes in the region.
The transaction also underscores the ongoing trend of historic property preservation and renovation by developers like Balbes, who recognize the intrinsic value of architecturally important homes. Their ability to seamlessly blend historical integrity with modern luxury creates properties that are not only investments but also cultural assets. The sale of La Macarena is expected to generate considerable interest from a global clientele seeking unparalleled luxury, privacy, and a connection to a storied architectural heritage. The listing agents, the Kogevinas Group, are well-positioned to manage this high-profile transaction, given their deep understanding of the Montecito market and their expertise in marketing luxury real estate.
The extensive renovation by Xorin Balbes, in collaboration with Blue Studio, has ensured that La Macarena is not just a house, but a comprehensively designed estate. The integration of Santa Barbara-inspired landscaping, the strategic placement of courtyards and terraces, and the inclusion of a resort-style pool and spa all contribute to a lifestyle of refined leisure. The property’s ability to cater to both intimate gatherings and large-scale entertaining, coupled with its serene natural setting and proximity to world-class amenities, makes it a truly exceptional offering in the current luxury real estate landscape.
The sale of La Macarena represents a significant moment in Montecito’s luxury real estate market, showcasing the successful revitalization of a historic architectural treasure by a developer known for his discerning eye and commitment to quality. The property stands as a compelling example of how the past can be beautifully preserved and thoughtfully enhanced to meet the demands of the present.
