Fashion Nova founder joins 'Billionaire's Beach' with all-cash purchase of $40 million Malibu property — a 20-minute drive from his $126 million Bel-Air mega-mansion
According to the listed addresses for both properties, Saghian's new home is just a 20-minute drive from his megamansion in Bel-Air.
"There is nothing else like it," Saghian said in reference to"The One" in a statement to Insider in March."As a lifelong Angeleno and avid collector of real estate, I recognized this as a rare opportunity that also lets me own a unique property that is destined to be a part of Los Angeles history." The fashion executive secured his new Malibu home for $20 million less than its June asking price of $69 million, according to The Real Deal. TheThe previous owner, nursing home mogul Lee Samson, bought the property for $22 million in 2015 and worked with architect Richard Landry to redesign the modern home, which was originally built in 1976, the Zillow listing says.
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