While many are debating the value of real estate, Fashion Nova founder Richard Saghian seems to be swearing by it. After making a string of other similar purchases, the businessman’s latest buy is a swanky home at the infamous ‘Billionaire’s beach’.
A plush residence for an even plushier price:
Saghian bought the Carbon Beach mansion in an all-cash deal for $40 million. It sits right next to one of Larry Ellison’s many homes and was originally built in the 1970s. The seller of the home is nursing home mogul Lee Samson who purchased it in 2015 for $22 million.
The residence has since been remodeled by architect Richard Landry and his associate Todd Riley with interiors completed by Joan Behnke. At present, it features a classy white, gold, and gray theme across its 6,000-square-foot area an also boasts 70 feet of beach frontage.
Complete with panoramic views and state-in-the-art amenities:
Comprising six bedrooms, six full baths and, two powder rooms, the property is truly unlike any other. The main highlights include a fireplace-fitted living room, a top-of-the-line chef’s kitchen, and a vast indoor space connected to an al fresco dining terrace.
Upstairs one can find a master retreat with a private office and balcony, plus a separate gym with its own beverage refrigerator and dumbwaiter. Other amenities include a motor court with an automated car turntable, a pool, a spa, a “hidden” movie theater as well as a built-in BBQ center, wet bar, jacuzzi, and fire-pit on the rooftop terrace.
Sanghian’s real estate obsession
In addition to his recent purchase of the $40 million ‘Billionaire’s beach home (handled by Gayle Pritchett of Pritchett-Rapf & Associates and Chris Cortazzo of Compass), Saghian owns several other pieces of real estate.
These include a $14 million oceanfront estate acquired a little less than two years ago from Netflix co-CEO Ted Sarandos and his wife Nicole Avant, a $17 million mansion in the Bird Streets, previously owned by the late Avicii, and Bel Air’s infamous “The One” estate worth $126 million.
