The owner of LA’s largest mansion buys two Miami Beach homes on the same street as David Beckham in a $30M all-cash deal

Real Estate

Fashion Nova’s billionaire founder Richard Saghian has splashed out $30 million for a prime piece of Miami Beach property — two of them, in fact.

The retail mogul scored two properties in a swift, all-cash deal: a luxe waterfront mansion and a house across the street, both located on exclusive North Bay Road, according to the Real Deal.

Ami Shashoua, a fintech executive and developer, sold the properties to Saghian, who plans to use the waterfront home as a getaway spot.

Saghian, based in California, plans to use the waterfront home as a vacation property. Michael Allen Creative
The acquisition includes a waterfront home at 5718 North Bay Road and a non-waterfront house across the street. Luxhunters Productions

Saghian, whose fast-fashion empire is headquartered in California, recently made headlines with his $118 million Beverly Hills headquarters purchase.

Forbes pegs his net worth at $1.3 billion.

The 7,800-square-foot waterfront mansion, built in 2022, boasts views of Biscayne Bay with 75 feet of frontage.

The waterfront home, built in 2022, boasts seven bedrooms, a theater, gym and a saltwater pool. Luxhunters Productions
The kitchen. Luxhunters Productions
The wet bar. Luxhunters Productions

The luxurious spread includes seven bedrooms, seven bathrooms, a wine cellar, a home theater, a gym and even a saltwater pool.

There’s also a four-car garage and an elevator, to boot.

Across the street, the second home features four bedrooms, 4.5 bathrooms, and a new pool and spa.

The deal came together fast — closing just 10 days after Saghian made an offer, insiders told TRD.

Shashoua had initially listed the waterfront home for $76.5 million earlier this year, but eventually dropped the price.

The home theater. Luxhunters Productions
The living area. Luxhunters Productions
One of six bedrooms. Luxhunters Productions
The primary ensuite bathroom. Luxhunters Productions

The non-waterfront home, which was renovated last year, was listed for $5.5 million.

This latest Miami Beach purchase adds to Saghian’s growing collection of trophy properties, which already includes several homes in California, like his $141 million Bel-Air estate, “The One” — LA’s largest mansion.

And Saghian isn’t the only high-profile buyer eyeing North Bay Road.

Just this week, soccer star David Beckham and wife Victoria closed on their own waterfront mansion there for $72.3 million.

Products You May Like

Articles You May Like

Young adults are holding off on moving out of their parents’ house — here’s what’s behind the trend
We’re making another trim of a stock under pressure to protect hard-fought profits
Developer gives first look at planned skyscraper near Grand Central Terminal — but lacks key piece to make it a reality
Weekly mortgage demand inched up, despite higher interest rates. Here’s why
‘RHOC’ star Kelly Dodd and Rick Leventhal sell the Westhampton beach house where they met — for $1.16M

Leave a Reply

Your email address will not be published. Required fields are marked *