Eric Schmidt, the former chief executive of Google, and his wife Wendy Schmidt purchased a large estate in Montecito, Calif., for $30.8 million this summer, according to people familiar with the deal. The price was eventually dropped to $36.89 million last year, according to Zillow. The sellers are Bill and Sandi Nicholson, who bought the roughly 22,000-square-foot home for $5.25 million in 1999, records show. In an interview in 2016, his wife said the couple spent more than $20 million renovating and restoring the estate. The property still includes many original details, including a Gladding McBean terra cotta glazed surround designed for Mr. Peabody and original white Alabama marble.

Source: Wall Street Journal September 08, 2020 21:22 UTC