Prince Harry and Meghan Markle paid $14.7M for their new estate

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Prince Harry and Meghan Markle bought their new California mansion from a Russian businessman with a $9.5million mortgage after the price was knocked down by more than $10million,

The couple bought the sprawling nine-bedroom and 16-bathroom mansion in upscale Prince Harry and Meghan Markle

Montecito for $14.65million on June 18, making them neighbors with celebs Oprah

Winfrey and Ellen DeGeneres.

The 14,563-square-foot home, known as ‘The Chateau’, sits on 5.4 acres of land and

immaculately clipped hedges border the estate’s stone-pillared entry gates.

The seller is thought to be Russian tycoon Sergey Grishin who bought the ‘palatial’

mansion

for more than $25million in 2009 and had tried to sell the home for up to $34million

before eventually accepting a loss.

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Grishin is also the former owner of a different California estate – known as the Scarface

mansion because it appeared in the 1983 Al Pacino movie – which sold for a similarly

cut-price $12million in 2015. Prince Harry paid $14.7M for their new estate

Property listings say the home took nearly five years to build and included a library, office

, spa with a separate dry and wet sauna, a gym with a stripper pole, game room, arcade,

theater, wine cellar and five-car garage. Prince Harry and Meghan Markle

The former royals bought a $14.7 million mansion in a secluded and leafy, gated estate outside Montecito, Southern California in June and joined an affluent town where homeowners include Oprah Winfrey, Ellen DeGeneres and Ariana Grande

The former royals bought a $14.7 million mansion in a secluded and leafy, gated estate outside Montecito, Southern California in June and joined an affluent town where homeowners include Oprah Winfrey, Ellen DeGeneres and Ariana Grande

Prince Harry and Meghan Markle’s $14.7million home in Santa Barbara, California, is seen above

The Sussexes have been living in the Montecito home for six weeks. They are pictured above with Archie in September last year

The Sussexes have been living in the Montecito home for six weeks. They are pictured above with Archie in September last year

The Sussexes have been living in the Montecito home for six weeks. They are pictured

above with Archie in September last year

Locals are quick to welcome Harry, Meghan and their one-year-old son Archie into their circle, with many telling DailyMail.com how excited they are to have them. Gwat Bhattacharjie, a Montecito resident for 43 years and lives just down the road, said: ‘I think it is wonderful. It’s a great idea for them if they seek anonymity and privacy.’ The royal’s home sits on a private road (pictured) in an exclusive area of Santa Barbara, home to many celebrities

Locals are quick to welcome Harry, Meghan and their one-year-old son Archie into their circle, with many telling DailyMail.com how excited they are to have them. Gwat Bhattacharjie, a Montecito resident for 43 years and lives just down the road, said: 'I think it is wonderful. It's a great idea for them if they seek anonymity and privacy.' The royal's home sits on a private road (pictured) in an exclusive area of Santa Barbara, home to many celebrities

The home sits on a private road in an exclusive area of Santa Barbara, home to many celebrities

The palatial residence, set in 10 acres, was originally put on the market in May 2014 for $36million

The palatial residence, set in 10 acres, was originally put on the market in May 2014 for $36million

The home was built in 2003. The estate has sweeping lawns, tiered rose gardens, tall Italian cypress trees, blooming lavender, century old olive trees, a tennis court, tea house, children’s cottage and a pool

A cut-price palace… but running costs could reach $4.4million per year Prince Harry paid $14.7M for their new estate

Harry and Meghan bought their new home for $14.7million, a bargain compared to its

earlier selling price of more than $25million and a previous listing of $34million. Prince Harry paid $14.7M for their new estate

However, the mansion comes with eye-watering bills of its own which could stretch as

high as $4.4million per year.  Prince Harry and Meghan Markle

MORTGAGE: $480,000 PER YEAR

The couple have secured a $9.5million mortgage for the $14.7million home, suggesting they

made a down-payment of around $5.2million.

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At typical interest rates provided by Bank of America, the couple would have to pay around

$40,000 a month or $480,000 a year in order to repay their $9.5million mortgage over 30 years.

PROPERTY TAX: $68,000 PER YEAR

Finance technology firm SmartAsset estimates that a $14.7million home in Montecito,

California would be liable for around $68,000 per year in property tax.

The tax is based on the purchase price of the home, but is also affected by other variables

such as the rate of inflation.

STAFF: $300,000 PER YEAR

Harry and Meghan have not revealed what kind of staff they will employ, but a full-time

staff of cooks, gardeners and housekeepers would come with a hefty bill.Prince Harry paid $14.7M for their new estate

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Christopher Baker, who runs a firm that supplies domestic staff in California, told the

Hollywood Reporter in 2015 that a staff for A-list celebrities can cost $200,000 to $300,000

per year, or even more.

US Imposes Sanctions On Chinese Company Over Abuse Of Ethnic Minorities

UTILITIES: $24,000 PER YEAR

According to cost-of-living database Numbeo, utility bills for a 900 sq ft home in Santa Barbara

County are typically around $200 per month.

Harry and Meghan’s mansion is more than 10 times larger, suggesting a possible bill of at least

$2,000 per month or $24,000 per year. Justin Rubinstein of real estate firm Compass told

Business Insider last year that utility bills of $2,000 to $3,000 a month were typical for

large mansions.   Prince Harry and Meghan Markle

SECURITY: $3.3MILLION PER YEAR

Reports earlier this year claimed that Harry and Meghan had hired  $9,000-a-day security Prince Harry paid $14.7M for their new estate

If GDBA were hired for 365 days a year at that rate, Harry and Meghan would be left with a

$3.3million bill for security alone.

GDBA is run by Gavin de Becker, a security expert and former presidential adviser who was

previously hired by Jeff Bezos as a private investigator.

The firm offers ‘highly trained, highly screened’ security guards who control access to the

homes of the rich and powerful, boasting that its thousands of clients include ‘over 90 of the

world’s most prominent families and at-risk individuals’, said to include Tom Hanks and

Madonna.Prince Harry paid $14.7M for their new estate

TOTAL: $4.4MILLION PER YEAR

The entrance to the property opens onto a wide lane paved with hand-cut Santa Barbara

Stone that leads through a grand archway of trees to the main residence, according to Zillow.

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The estate has sweeping lawns, tiered rose gardens, tall Italian cypress trees, blooming lavender,

century old olive trees, a tennis court, tea house, children’s cottage and a pool.

It also boasts a two-bedroom, two-bath guest house, perfect for Meghan’s mother Doria,

who is acting as one-year-old Archie’s nanny. Doria has already been to the house, TMZ reports.

According to Zillow, the house has been updated with the latest Lutron lighting systems

and Crestron, including iPad control. Prince Harry paid $14.7M for their new estate

The property is located on a private road in a luxury and secluded estate in Montecito.

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The home is around a two-hour drive from downtown Los Angeles and almost every house

in the multi-million dollar neighborhood is designed for privacy, with long driveways and

large gates.  Prince Harry and Meghan Markle

Harry and Meghan bought the luxury property after securing a $9.5million mortgage, it is

believed, implying that they made a down-payment of more than $5million.

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At typical interest rates, the couple would have to pay  $40,000 a month or $480,000 a year in

order to repay the mortgage over 30 years.

Annual property tax is estimated at $68,000 and the costs of security and utilities for the huge

mansion will also come with hefty bills.

The couple have bought the property despite still owing the British taxpayer £2.4million

($3.1million) for the renovation of Frogmore Cottage, their former home near Windsor Castle.

The pair have agreed to pay £18,000 ($24,000) a month to repay the cost of refurbishing the

cottage, and royal expert Ingrid Seward said on Wednesday that the new expenditure was ‘not

going to be looked at very favorably’. Prince Harry paid $14.7M for their new estate

Reports said yesterday that Harry and Meghan purchased the home with help from Prince Charles, Prince Harry paid $14.7M for their new estate

but a source told  that the couple ‘feel proud to have struck out on their own and

they are saying they bought it without any help from his family.

‘They do have a mortgage, but they see this as their own place, free from relying on anyone else –

a proper family home,’ the source said. Prince Harry and Meghan Markle

At their peak Harry and Meghan’s combined wealth had been estimated to be around $43million.

After changing hands in 2009, the home was listed by Sotheby’s six years later for $34.5million, but had no takers.

Eventually it was relisted for $16,975,000 in January this year, and sold to the Sussexes for $2,325,000

less than the asking price.

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Page Six reported that the couple have been living in Santa Barbara for the past six weeks.

According to the LA Times, the seller was a limited liability company linked to Russian businessman Sergey Grishin, who previously had to sell the Scarface estate for a fraction of its original asking price.

The setting was famously used for the exterior shots of Tony Montana’s mansion in Scarface, while

other scenes – including the dramatic final shoot-out – were filmed on sets.

The palatial residence, set in 10 acres, was originally put on the market in May 2014 for $36million

after it was purchased by Grishin in 2008.

However, the the sprawling ‘El Fureidis’ – which means ‘Tropical Paradise’ in Spanish – was eventually

for $12.26million, barely a third of its initial listing.

HARRY AND MEGHAN: The home was built in 2003. The estate has sweeping lawns, tiered rose gardens, tall Italian cypress trees, blooming lavender, century old olive trees, a tennis court, tea house, children’s cottage and a pool

HARRY AND MEGHAN: The home was built in 2003. The estate has sweeping lawns, tiered rose gardens, tall Italian cypress trees, blooming lavender, century old olive trees, a tennis court, tea house, children's cottage and a pool

The palatial residence, set in 10 acres, was originally put on the market in May 2014 for $36million

Harry and Meghan have moved into the star-studded neighborhood in California

Harry and Meghan have moved into the star-studded neighborhood in California

Harry and Meghan have moved into the star-studded neighborhood in California

The sprawling estate sits on 5.4 acres. Property listings say the home took nearly five years to build and included a library, office, spa with a separate dry and wet sauna, a gym with a stripper pole, game room, arcade, theater, wine cellar and five-car garage

The sprawling estate sits on 5.4 acres. Property listings say the home took nearly five years to build and included a library, office, spa with a separate dry and wet sauna, a gym with a stripper pole, game room, arcade, theater, wine cellar and five-car garage

The sprawling estate sits on 5.4 acres. Property listings say the home took nearly five years to build

and included a library, office, spa with a separate dry and wet sauna, a gym with a stripper pole

, game room, arcade, theater, wine cellar and five-car garage

The couple are thought to have bought the property from Russian businessman Sergey Grishin (pictured)

The couple are thought to have bought the property from Russian businessman Sergey Grishin (pictured)

The couple are thought to have bought the property from Russian businessman Sergey Grishin

(pictured)

Leading luxury real estate broker Jason Streatfeild, who has an office in Montecito, told

Harry and Meghan will fit right into the community. Prince Harry and Meghan Markle

‘It’s the type of neighborhood where you may not realize who your neighbor is but you really don’t care,’ he said.

‘It’s not unusual to run into Oprah Winfrey at the grocery store or to be sitting next to Ellen

DeGeneres for lunch at the Miramar Hotel.

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‘It’s a very private and exclusive area, a place where you can escape with an ocean in front of you

and the mountains behind you.

‘We’re about 90 minutes north of Los Angeles and about four hours south of San Francisco – a unique south facing coastal community that has the channel islands directly in front of us.

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We have a wonderful climate, calm waters and it’s just a very laid back health orientated community with plenty to do outdoors.’

Streatfeild, 39, who runs a team of five agents in Montecito for the Douglas Elliman real estate firm

, said there’s also plenty of shopping and great places to eat.

‘There are also two small commercial districts filled with wonderful restaurants and high end

shops,’ he said.

‘Harry and Meghan coming here will certainly create a buzz, but then we’re used to celebrities

here.’

Harry and Meghan have gotten a steal, as their new home initially sold in 2009 for over $25million

Harry and Meghan have gotten a steal, as their new home initially sold in 2009 for over $25million

Harry and Meghan have gotten a steal, as their new home initially sold in 2009 for over $25million Prince Harry paid $14.7M for their new estate

Neighbors told  they had not seen the Sussexes, saying that residents on the

private roads often kept to themselves.

The former royal couple enjoyed walking in the parks near their previous temporary residence on Vancouver Island, Canada, and their new home is just a few minutes walk away from a canyon trail frequented by hikers lapping up the Southern California sunshine – albeit with COVID-19 face

masks. Prince Harry and Meghan Markle

Property records show Harry and Meghan’s new mansion was built in 2003.

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The sense of privacy was also a massive draw for Meghan’s friend and confidante Oprah Winfrey,

who until yesterday was its most famous resident.

She has expanded her ocean-side Promised Land estate in Montecito from 42 acres to 70 and

recently bought a house from actor Jeff Bridges because it neighboured hers.

Her 23,000-square-foot mansion has a library, 14 bathrooms, rose gardens and fountains in her landscaped grounds. There is also an outdoor theatre and man-made fishing lake.

Another local friend is Ellen DeGeneres, the chat show host who is going through a scandal over

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She revealed recently that she had visited the Sussexes soon after Archie’s birth, had fed him and described Harry and Meghan as the ‘cutest couple.’ She and Meghan text each other.

Her main home with actress Portia de Rossi is in Beverly Hills, but she has four houses in Santa

Barbara. Prince Harry and Meghan Markle By Will Stewart for MailOnline

The shadowy Russian ‘Scarface oligarch’ who sold Prince Harry and Meghan Markle’s new home

Sergey Grishin, 54, who is believed to be worth $500million, has made extraordinary boasts about ‘robbing’ the Russian banking system – including a scam with disappearing ink.

Based in Los Angeles, the banker has begged Donald Trump for a US passport, saying he needs it Prince Harry paid $14.7M for their new estate

stay safe from Russians who are after him. His complex relations with glamorous women – including a Russian

described by the Gazprom owned NTV channel as a ‘porn webcam model’ – have led to a number of legal clashes, including

alleged death threats.

Sergey Grishin (pictured) is the shadowy Russian ‘Scarface oligarch’ who sold Prince Harry and Meghan Markle’s new home in Santa Barbara

Sergey Grishin (pictured) is the shadowy Russian 'Scarface oligarch' who sold Prince Harry and Meghan Markle's new home in Santa Barbara

Sergey Grishin (pictured) is the shadowy Russian

and Meghan Markle’s new home in Santa Barbara

One of Grishin’s romantic partners was Anna Fedoseeva (pictured together), in her late 30s, who worked at an events agency and organised one of his birthday parties.

One of Grishin's romantic partners was Anna Fedoseeva (pictured together), in her late 30s, who worked at an events agency and organised one of his birthday parties.

One of Grishin’s romantic partners was Anna Fedoseeva (pictured together), in her late 30s

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who worked at an events agency and organised one of his birthday parties.

Grishin has a degree in Physics but his first business venture in Moscow reportedly involved

home-baked cookies and hot dogs.

Nicknamed the ‘Scarface oligarch’ due to his earlier purchase of the ‘Scarface’ estate – where Tony Montana got blown to bits and Winston Churchill and Albert Einstein also stayed – he made

several videos on his private Gulfstream jet which purported to confess to involvement to financial

machinations in the Reds-to-Riches 1990s in Russia.

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He wanted to explain how ‘a single person like me can cause the collapse of the Russian banking

system’, apparently as a come-on to the US authorities.

His aim seemed to be to coax a US passport from the Trump administration by implying he

had inside knowledge of Russian wrongdoing which would be of interest to the FBI.

In one video filmed on his jet, he claimed he made Russian bankers use a Polish-designed pen

to write cheques for $2million.

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The larger alleged robbery involved financial manipulations via Estonia at the time when

the Soviet Union was collapsing into chaos, he said.

He has praised Trump and his slogan about making America great again, but made clear he

wanted a US passport because: ‘I want to be safe.

‘I am kind of under fire right now by the criminal world of Russia…by the top government

officials of Russia, too. ‘

Grishin’s marriage to Anna Fedoseeva (pictured) ended in acrimony

Grishin's marriage to Anna Fedoseeva (pictured) ended in acrimony

He posted a picture of his bloodied face (above) claiming he had been the subject of domestic abuse

He posted a picture of his bloodied face (above) claiming he had been the subject of domestic abuse

Grishin’s marriage to Anna Fedoseeva (left) ended in acrimony and he posted a picture of his

bloodied face (right) claiming he had been the subject of domestic abuse

The oligarch later met former model Ekaterina Loginova (pictured together) and began a relationship with her, reports in Russia say

The oligarch later met former model Ekaterina Loginova (pictured together) and began a relationship with her, reports in Russia say

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The oligarch later met former model Ekaterina Loginova (pictured together) and began a

relationship with her, reports in Russia

In his video message he did not explain the alleged threats from the mafia or Putin’s officials

but said: ‘I don’t like this…I hate this. I do not deserve this.’

In fact, surprisingly little is known about the Grishin.

In 2008, Finans magazine dubbed him ‘one of the most mysterious Russian bankers’, who

made his first money in selling electronics and petrol.

He has been married at least three times, according to the Russian media.Prince Harry paid $14.7M for their new estate

His latest bride was Anna Fedoseeva, in her late 30s, who worked at an events agency and

organised one of his birthday parties.

She moved from St Petersburg to California and ‘he started showering her with presents’,

according to one account.

‘Her life turned into a fairy tale – Bentley, furs, expensive hotels and resorts.’

They married in March 2017 and split up 11 months later, amid demands for a return of his

‘gifts’ say reports.

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His lawyer Alexey Melnikov, later said: ‘My client has spent over $5million on her, the exact

amount is hard to establish since the presents were bought at different times for rubles, US

dollars, euro and Swiss francs. Over this time they had traveled to a lot of places.’

There followed legal action in which he demanded the return of an alleged loan from Anna

and her business partner Jennifer Sulkess.

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They started legal action accusing him of death threats and false imprisonment.

He posted a picture of his bloodied face claiming he had been the subject of domestic abuse.

Ekaterina Loginova (pictured) was described by the Gazprom-owned NTV channel as a ‘porn webcam model’

Ekaterina Loginova (pictured) was described by the Gazprom-owned NTV channel as a 'porn webcam model'

Ekaterina Loginova (pictured) was described by the Gazprom-owned NTV channel as a ‘porn webcam model’

Sergey Grishin and US tycoon Warren Buffet playing poker. The Russian businessman has lobbied for a US passport

Sergey Grishin and US tycoon Warren Buffet playing poker. The Russian businessman has lobbied for a US passport

Sergey Grishin and US tycoon Warren Buffet playing poker. The Russian businessman has lobbied for a US passport

The oligarch later met former model Ekaterina Loginova and began a relationship with her, it is

reported in Russia.

But later he filed a criminal lawsuit against an assistant who has worked for him for 25 years,

Svetlana Grachyova, and Loginova

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He accused them of defrauding him while they countered that the banker allegedly threatened

them with murder, jail and accused them of a lesbian plot, say reports in Russia.

Loginova was quoted as saying: ‘Grishin invited me, my eight-month-old son and my mother to

live with him in the USA, and soon he proposed to me, giving me an expensive ring worth several

million rubles. He said he wanted to get married.’

She said: ‘In the summer of 2018, Grishin suddenly left for Moscow, explaining to his bride that

he wanted to sue his ex-wife Anna Fedoseeva.

‘After his return, he began to behave extremely aggressively and completely inadequately.Prince Harry paid $14.7M for their new estate

‘Although before that, I heard strange things from him, for example, that he would become

the next president of the United States.

‘But after this trip, he went off the rails: every day I heard how he would punish his ex-wife, put

her in prison.

‘Frightened by the hatred and cruelty emanating from Grishin, I packed my things and

returned to Moscow with my child and mother.’

An earlier wife Anna Grishina also became locked in legal dispute at the end of their relationship,

it was reported in Moscow.

Source

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