Tech CEO Wins Bidding War for Pacific Palisades House – DIRT

Pacific Palisades is one of the most competitive luxury markets in Los Angeles, with its combination of good seaside weather, good schools and plentiful shopping/dining destinations attracting wealthy buyers in droves. As such, bidding wars are commonplace. But this particular property took the feeding frenzy to a new heightened level — though the all-new house was unfinished at the time, it sold last year for $18 million, a staggering $3.2 million over the asking price and reportedly one of the highest per-square-foot sums ever paid for new construction on the Palisades Riviera.

No small part of the home’s desirability is attributable to Kim Gordon, the widely known Los Angeles developer and designer whose latest projects are a striking fusion of warm contemporary architecture and “wellness real estate,” which thoughtfully incorporates natural elements like SoCal sunlight, ocean breezes and local flora to create homes that seamlessly blend into their environment while retaining all the high-tech amenities luxury homebuyers crave.

This particular house flaunts all of Gordon’s signature design flourishes — seamless indoor-outdoor living environs throughout, bespoke furnishings and finishes, and an open yet still intimate floorplan that provides equal opportunities for large-scale entertaining and cozy meetings. Sited behind gates, the two-story structure is unassuming from the street, but stretches deep on its lush lot, boasting a mansion-sized 8,600 square feet of living space.

Because the home was sold prior to completion, renderings provide a suggested glimpse at how the finished interiors are likely to appear. Two of the home’s more unique features are its light-flooded kitchen, which offers an innovative two-story pantry with an open-air dining patio, while the primary bedroom suite is a luxury residence unto itself, secluded in a private wing of the home and equipped with dual bathrooms, dual closets and a private patio with a plunge pool. Throughout the residence are hand-troweled, matte finished plaster walls and heated stone floors.

Though the home’s very well-heeled winning bidder went unnamed, it turns out he is tech entrepreneur Joshua Motta, the 39-year-old co-founder and CEO of San Francisco-based Coalition. Now valued at $5 billion with backing from private equity firms like General Atlantic and Valor Equity Partners, Coalition is disrupting the cyber insurance industry with industry-leading cybersecurity tools that mitigate digital threats.

Motta, who had prior stints at both Microsoft and the CIA, and wife Gwyneth were formerly based in San Francisco, near Coalition’s Union Square-adjacent headquarters. But it’s not such a surprise that they would be planning an L.A. move. A couple years back, Motta’s business partner — Coalition co-founder John Hering — acquired a $13 million fixer-upper mansion in the nearby Brentwood Park neighborhood.