Luxhunters Productions
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, 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 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 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.