By LILY TINOCO | Reporter
A new project is underway in Pacific Palisades on Alcima Avenue: A 16,000-square-foot, modern farmhouse-style home that is currently under construction.
Born and raised in the Palisades, Palisades Funding President Patrick McKenna said the home sold for $19.15 million off-market and in-framing on Thursday, January 7.
Prior to construction, a four-bedroom, four-bathroom, 3,248-square-foot, Spanish-style home sat on one-third of the estate.
“We really enjoy finding properties where we can basically improve on them,” McKenna said to the Palisadian-Post. “We really have a good time doing [this].”
Resting on nearly one and a half acres of land with ocean views and close proximity to Palisades Village, the new home is described as “the finest the Palisades has to offer,” according to Palisades Funding website.
McKenna said it will be a private gated estate with a long driveway, eight bedrooms, 11 bathrooms and luxury amenities, including a movie theater with a 14-foot screen, a pool room, a gym and sauna.
The home is also slated to have a six-car garage with a motor port, an outdoor pool, a cabana and a guest house.
“It’s pretty amazing, it’s going to be a really nice premier estate in the Palisades,” McKenna said.
The home is a ground-up construction and framing is complete—McKenna said the home will likely be completed in 18 months.
Real estate agent Fiora Aston from Compass represented the buyers, with Eric Knight of Berkshire Hathaway HomeServices representing Palisades Developing Company.
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