Monaco billionaire Patrice Pastor rushed to assure the residents of Carmel-by-the-Sea, Calif., that he loves the town and wants to protect its history. He was responding to reports that the locals were "terrified" by his real estate shopping spree.
In the heart of Carmel-by-the-Sea, where the ocean breeze meets the charm of Spanish-style architecture, a recent $7.5 million sale has sparked a mix of intrigue and concern among locals. The La Rambla building, a historic gem dating back to 1929, with its charming retail spaces and elegant apartments, has changed hands, adding another notch to the belt of Monaco billionaire Patrice Pastor, SF Gate reports.