Scott and Ally Svenson, the husband-and-wife team behind MOD Pizza, have cashed out of Medina, selling their century-old mansion for nearly $11.6 million. The deal, recorded in King County property records and reported Friday, hands off a 1908 estate the Svensons bought in 2005 and moves yet another trophy property through the Eastside luxury market.
The transaction closed at about $11.6 million, roughly $4.4 million above the county's assessed value, and represents a gain of about $7 million over the couple's 2005 purchase price, according to King County records cited by The Seattle Times. The outlet reports that the house dates to 1908 and that the sale appears in local property filings.
From Coffee Shops To A Pizza Empire
Before building their pizza chain, the Svensons launched the Seattle Coffee Company in London. That brand was later acquired by Starbucks in the late 1990s, and Scott went on to help run Starbucks Europe. The couple opened the first MOD Pizza in downtown Seattle in 2008 and grew the fast-casual chain to roughly 500 locations, according to GeekWire. Financial troubles eventually led to a 2024 sale of MOD Pizza to Elite Restaurant Group, as reported by Eater Seattle.
What This Sale Says About The Eastside Market
Medina and the Four Points enclave are among the region's priciest pockets, where waterfront estates and other trophy homes routinely hit eight-figure price tags. Local market reporting and broker notes point to tight luxury inventory and concentrated demand, a pattern that puts the Svensons' sale squarely in line with other high-end Eastside deals, per Judah Realty.
Public reporting has not yet identified the buyer, and it is unclear whether the new owner plans to renovate or keep the house's historic character largely intact. Either way, the deal highlights how founders of once-local brands can leave an outsized mark on the Seattle area's most rarefied housing markets.
