SANTA BARBARA – The restaurant property at 30 Los Patos Way, currently the Montecito Event Center and previously known as Café del Sol, has been purchased by the founder of the famous Magic Castle in Los Angeles. Listed for $2,350,000, the 3,982 sf restaurant building on a 11,761 sf parcel overlooks the Andree Clark Bird Refuge and is a short walk from both Santa Barbara’s East Beach and Montecito’s Coast Village Road. The offering went into escrow within days of being listed for sale.
Milt and Arlene Larsen purchased the property and have announced long-term plans to transform it into an offshoot of the Magic Castle. For the time being, the property will continue to operate as the Montecito Event Center. Mr. Larsen founded the Magic Castle in Los Angeles in the 1960s with his late brother Bill Jr.
Steve Hayes and Michael Martz of Hayes Commercial Group represented the seller, and Joe Parker of the Santa Barbara Group represented the buyer in the transaction.