After settling into her new lavish $25 million mansion in Pacific Palisades, a prestigious neighborhood in Los Angeles, Catherina Gores, the 26-year-old daughter of billionaire investor and owner of the Detroit Pistons, Tom Gores, has decided to place her other residence in the exclusive gated enclave of Malibu Colony on the market.
This oceanfront gem is now listed at $26.5 million, a notable increase from the price she paid for it just under two years ago. She originally acquired the property from the late George Shapiro, an executive producer of the popular TV show “Seinfeld,” for just under $17 million.
Constructed in the early 1990s, this wood-sided home, which was previously adorned by Michael S. Smith, the designer for Barack Obama’s White House, has undergone updates during Gores’ ownership. The property spans nearly 5,000 square feet, featuring hardwood floors throughout. It includes four bedrooms, six bathrooms, an attached two-car garage, and a generous front driveway. Notably, it is also available for lease at $145,000 per month, providing an enticing option for those seeking the ultimate Malibu lifestyle.
Entering the home through a doorway adjacent to the garage, you’ll find the ground floor of this three-story residence. The highlight is the inviting living room, showcasing a fireplace flanked by elegant built-in arched bookshelves. French doors open up to a patio, providing an ideal setting for outdoor relaxation and entertaining. This outdoor space is complemented by a hot tub and a built-in barbecue. Adjacent to the living room is a well-appointed kitchen with a butcher block-topped island, wine cooler, top-of-the-line Wolf appliances, and a spacious dining area.
Ascending to the upper level, you’ll discover a spacious master suite that includes a slender balcony overlooking the ocean. The suite also boasts a spa-inspired bathroom with a dressing area, a freestanding soaking tub, and a glass-encased shower. Despite the property’s compact size at just under a quarter-acre, the backyard offers a delightful patio area leading to a wood deck that grants direct access to the beach.
Clearly, Catherina Gores shares her father Tom Gores’ passion for real estate. Tom Gores, the founder of Platinum Equity, possesses a remarkable property portfolio worth an estimated 0 million. His holdings include luxurious residences in Holmby Hills, Malibu, Beverly Park, and his native Michigan, where the Gores family frequently enjoys their vacations. According to Forbes, Tom Gores’ net worth is estimated at $8.1 billion.
In an interesting twist of family involvement, the listing for this exquisite Malibu property is jointly managed by Samira Gores, Tom Gores’ sister, and his nieces, Christine Martin and Tiffany Martin, all of The Agency.
