Rob Lowe and his wife, Sheryl Berkoff, are about to sell their Montecito, Calif. home for a whopping $42 million! Who knew the ‘Tommy Boy’ actor had been living that large!

Lowe built the 20-room mansion on four acres, earning it a feature spot in a 2010 issue of Architectural Digest.


An insider said, “I don’t believe the deal is done, but [it] could be shortly.”

The buyer is not known, but will be in esteemed company. Neighbors include Oprah Winfrey, Ellen DeGeneres, Drew Barrymore and Google’s Eric Schmidt.

Lowe and Berkoff have two sons, Matthew Edward, 20, and John, 18. “The kids are grown up,” said a local real estate agent. “They don’t need such a big place.”

The couple is said to love the area, so don’t expect them to go too far.
Lowe’s spokesperson had no comment.