Actor Gene Hackman Sells Santa Barbara Villa

"The 15,000-square-foot Mediterranean-like villa was listed for some time at $10 million and more recently, at $6.9 million. We sold it with 25 acres with our co-listing agent, Alexander Velto Real Estate in Montecito. Juan Alvarez represented the Hackmans with Alex, and Alex represented the buyer, from Texas. He described the buyer as being on the board of five New York Stock Exchange companies."

"The house has three floors, a reception hall with marble floor, 35-foot-long living room, dining room (that Hackman used for a screening room), an elevator and grand staircase, and terraces with a view of the gardens, swimming pool and ocean."

"The Racquet Club of Palm Springs, started by actors Charles Farrell and Ralph Bellamy and operated for years by Farrell and his wife, Virginia, as an oasis for Hollywood stars, will celebrate the beginning of its second half century on Friday with a black-tie party. Past rosters look like a 'Who's Who of Hollywood:' Marlene Dietrich, Greta Garbo, Ginger Rogers, Barbara Stanwyck, Joan Crawford, Mary Pickford, William Powell, Lucille Ball, Greer Garson, Carol Lombard, Douglas Fairbanks, Spencer Tracy, Humphrey Bogart, Henry Fonda and Dick Powell."

Gene Hackman and his wife sold their 15,000-square-foot Mediterranean villa on 25 acres in Santa Barbara for $5.5 million, down from initial asking prices of $10 million and $6.9 million. The property features three floors, marble reception hall, 35-foot living room, dining room used as a screening room, elevator, grand staircase, and terraces overlooking gardens, pool, and ocean. The sale was facilitated by real estate agents Juan Alvarez and Alexander Velto, with the buyer being a Texas-based executive on five NYSE company boards. The Hackmans relocated to Los Angeles. The Racquet Club of Palm Springs, founded by actors Charles Farrell and Ralph Bellamy, celebrated its 50th anniversary with notable historical significance as a Hollywood celebrity hub.

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