In a stunning development in Los Angeles’ luxury real estate market, Fashion Nova CEO Richard Saghian has purchased a sprawling $32 million Beverly Hills estate. This acquisition follows a series of high-profile real estate investments made by Saghian, who has become known not only for his success in the fashion industry but also for his significant influence in the luxury market.
Beverly Hills Luxury: Saghian’s Impressive Acquisition
The newly acquired property, which spans 1.2 acres and boasts 13,000 square feet of living space, is located in one of the most exclusive neighborhoods in Beverly Hills. The estate was developed by Ramtin Ray Nosrati’s Huntington Estate Properties, and features six bedrooms, a private movie theater, a putting green, sports court, and a spa equipped with its own barbershop.
The property was originally listed for $44 million, but Saghian secured it in less than a month, paying $32 million in cash. This acquisition further solidifies Saghian’s stature within the elite circles of Los Angeles real estate.
A Property Fit for a Billionaire: Features and Amenities
The mansion’s ultra-modern design and extensive amenities make it a fitting addition to Saghian’s portfolio of luxurious properties. The private movie theater comes equipped with state-of-the-art surround sound and seating for more than 20 people, ideal for private screenings of the latest blockbuster films or intimate gatherings with friends and family.
The pool area is a visual masterpiece, featuring an infinity-edge design that gives the illusion of water flowing into the horizon, while a wine cellar provides the perfect storage space for Saghian’s extensive collection of rare wines. There is also a wellness center with an indoor pool, a full-service gym, and a spa treatment room, offering everything needed for relaxation and self-care.
The estate’s design also includes eco-conscious elements, with energy-efficient systems, sustainable landscaping, and solar panels, which are becoming increasingly important in high-end real estate as more buyers prioritize environmental sustainability.
The Strategic Role of Real Estate in Saghian’s Empire
For Richard Saghian, this latest real estate acquisition serves as both a personal indulgence and a strategic investment. Saghian, who turned Fashion Nova into a billion-dollar global brand, has a keen interest in luxury real estate and has made several high-profile property purchases in the past. His portfolio includes the infamous The One mansion in Bel Air, which he purchased for $141 million after the property failed to sell at auction in 2022.
The One mansion, once marketed for $500 million, is a property with 105,000 square feet of living space, a bowling alley, a nightclub, and a disco floor. Saghian’s plans to renovate the mansion have been delayed, but experts predict that once completed, it will be one of the most luxurious homes in the world.
His latest acquisition in Beverly Hills demonstrates that Saghian’s wealth and influence extend beyond his success in the fashion industry. He has recognized the long-term value in Los Angeles’ luxury market and has positioned himself as one of the most prominent figures in the high-end real estate sector.
Market Dynamics: A Cooling Luxury Market in 2025
Despite Saghian’s continued investment in luxury properties, the Los Angeles real estate market as a whole has shown signs of slowing down. According to recent reports from The California Association of Realtors, the luxury market has seen a 3.8% decrease in sales in Q1 of 2025, compared to the same period in 2024.
Factors contributing to this decline include higher mortgage rates, economic uncertainty, and a general slowdown in demand from international buyers. However, high-net-worth individuals like Saghian continue to show strong interest in the luxury market, particularly for properties that offer unparalleled amenities, seclusion, and state-of-the-art design.
Despite these market dynamics, Los Angeles remains one of the world’s most coveted real estate markets, with properties in areas like Beverly Hills, Malibu, and Bel Air continuing to command record-breaking prices.
Conclusion: A Symbol of Power and Wealth
For Richard Saghian, the acquisition of this Beverly Hills estate is a powerful symbol of his success in both the fashion industry and the luxury real estate market. As he continues to build his empire, both through Fashion Nova and his growing collection of exclusive properties, Saghian is cementing his place as one of the most influential figures in Los Angeles’ elite circles.
This latest purchase also signals the ongoing strength of Los Angeles’ luxury real estate market, even amid broader economic uncertainty. While the market may be cooling for some buyers, the allure of Beverly Hills and other prime locations continues to attract the world’s wealthiest individuals.
