Actor Jeff Bridges has unloaded his Tuscan-style villa in Montecito, California, which finally sold last week for nearly half the original asking price set a year ago.
The six-bedroom house on nearly 20 acres in Santa Barbara County closed on Friday for $15.925 million, according to property records. The Academy Award-winning actor and his wife, Susan, originally listed the home in March 2016 for $29.5 million.
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Perched in the Montecito foothills, the property overlooks the Pacific Ocean and surrounding mountains. A long drive over a stream and past mature olive trees leads to the front of the 9,500-square-foot main house, according to the listing with Suzanne Perkins of Sotheby’s International Realty.
Santa Barbara architect Barry Berkus designed the home, which was completed in 1988. The entry opens into a double-height foyer with stone columns meant to invoke grand European cathedrals, according to the listing.
The architect drew on other rustic elements from the homes of northern Italy, including rough stone walls and antique terra cotta pavers. The living room centers around a 100-year-old bridge beam and an antique fireplace.
The main living spaces open out onto a collection of patios and terraces designed to capture the panoramic views and the collection of large trees that ring the property and shade the outdoor dining areas. The living room and library lead out into a paved garden with a central fountain, roses, lavender and a large fig tree, images of the home show.
Records list the buyer as a limited liability company established by a person named Matthew C. Harris, who also owns a townhouse on Manhattan's Upper East Side, property records show.
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The price of the Tuscan estate has come down dramatically in the past 12 months, first dropping to $23.5 million last May and then to $18.5 million before the winter holidays, according to listing records.
Mr. Bridges, 67—who won an Oscar for his role in "Crazy Heart" and played The Dude in "The Big Lebowski"—and his wife bought the home in 1994 for an undisclosed amount, according to property records.
When the home first hit the market, Ms. Bridges told The Wall Street Journal that the estate had served as their main home, but they were downsizing to a smaller nearby property now that their daughters have grown up.
A publicist for Mr. Bridges did not immediately respond to a request for comment.
Correction
The buyer of this home is a limited liability company with a Manhattan mailing address established by a person named Matthew C. Harris. An earlier version of this story incorrectly stated the buyers were Matthew Harris, a New York-based venture capitalist, and his wife. (5/19/17)