Atherton estate of Ross Stores, Gymboree founder sells for $13.9M

UPDATE: APRIL 19, 10:00 A.M.:

The Atherton estate of serial entrepreneur and investor Stuart Moldaw sold recently for $13.85 million, according to property records, or about $1,500 per square foot. 

Moldaw, who created off-price clothing chains Pic-a-Dilly and Ross Stores and was a founding investor in children’s clothing chain Gymboree, died in 2008. His wife Phyllis and their two daughters held onto the 1.6-acre estate. It listed for the first time in over a decade last month.

Michael Dreyfus of Golden Gate Sotheby’s International Realty represented the sellers of 80 Coghlan Lane, but said he could not comment on the sale. 

The buyer is Coghlan LLC, which lists San Francisco-based estate and wealth management attorney Kenneth Raymond Hillier as its agent, according to state filings. Lizi Tabet and Aimee Klarich of Compass represented the buyer and did not reply to a request for comment. 

The nearly 9,000-square-foot home has five bedrooms, six bathrooms, a pool and a tennis court. It came to market on March 13 asking $14.5 million, and by April 5 it had gone into contract. The cul-de-sac home built in 1980 sold one week later, strongly indicating an all-cash deal. 

The home is the eleventh sale at the $10-million-plus mark in the country’s wealthiest zip code so far this year, which had several high-end sales in January and February after a slowdown along with the rest of the luxury market in the latter half of 2022.

Agents have suggested that the recent uptick in luxury activity across the Peninsula is due to several factors, including a continued lack of inventory, increased international interest and more realistic pricing expectations from sellers.

Correction: Previous story incorrectly stated that Phyllis Moldaw was deceased.