Updated Sep 5, 2024
Jenni Kayne Sells Santa Ynez Ranch-Style Home For $6M, Buyer's Rep Keller Williams Realty
Santa Ynez
$5,995,000
$1,553/SF
Building Size
3,860 SF
Asset Type
Single Family
Closing
Apr 25, 2023
About this deal
AI
Designer Jenni Kayne has sold her renovated Santa Ynez Ranch-style home for $5,995,000. The property, which spans 20 acres, was originally purchased by Kayne in 2020 for $950,000. After completing renovations in March 2022, she listed the property for its asking price of $6 million. The sale marks Kayne's first venture into the hotel and hospitality-driven experiences and resort markets, as part of her expansion efforts for the Pacific Group. The buyer, who remains anonymous, embraced the Jenni Kayne lifestyle brand and purchased the house fully furnished.
Summary of transaction details:
- Property Type: Single Family
- Sale Price: $5,995,000
- Square Footage: 3,860
- Price per Square Foot: $1,553
- Market: Santa Ynez
- Buyer's Representative: Emily Termond - Keller Williams Realty Santa Barbara
- Seller's Representative: Laura Drammer - Berkshire Hathaway HomeServices California
The successful sale of Jenni Kayne's Santa Ynez property was a significant milestone in her career, as she expands her brand presence into new markets. With the buyer choosing to purchase the house fully furnished, it demonstrates the appeal of the Jenni Kayne lifestyle and design aesthetic.
Players
Santa Ynez Single Family Market Snapshot
Boundary boundary · Single Family · Sale transactions
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About $1.6K per square foot on a published $6M for 3,860 square feet (2023).
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.65%
Cash-on-Cash
-0.76%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93