Fashion Nova CEO Richard Saghian Buys Manhattan Penthouse For $31 Million
Fashion Nova founder and CEO Richard Saghian has expanded his luxury real estate portfolio with the $31 million purchase of a penthouse in Manhattan’s Tribeca neighborhood.
The billionaire businessman is no stranger to headline-making property deals, most notably buying the infamous Los Angeles megamansion known as “The One” for $141 million at auction in 2022.
His latest acquisition adds another trophy property to his East and West Coast home collection, with the residence offering 7,675 square feet of interior space and 233 square feet of private outdoor terraces.
The transaction also marks a major milestone for the 157-unit luxury tower, bringing the building to a complete sellout more than a decade after pre-construction sales began in the summer of 2015.
Property Highlights
Price: $31 million
Location: Manhattan, New York
Size: 7,675 square feet
Bedrooms: 5
Bathrooms: 6.5
Notable Features: Full-floor penthouse, panoramic skyline and river views, 1,995-square-foot great room, private terraces, gallery, chef’s kitchen, butler’s pantry, 1,372-square-foot primary suite, dual primary bathrooms, 24-hour concierge, 75-foot indoor lap pool, spa, fitness center, private screening room
For more information about this sale, contact listing agent Emily Sertic of Douglas Elliman at emily.sertic@elliman.com. Ryan Serhant of SERHANT represented the buyer.
Inside Saghian’s New Penthouse
Designed by architect David Mann, Saghian’s new penthouse provides unobstructed views of the Hudson River, East River, New York Harbor, and Midtown and Downtown Manhattan skylines through floor-to-ceiling glass lining every exterior wall.
The penthouse’s centerpiece is a 1,995-square-foot great room connecting to the windowed eat-in kitchen with Wolf, Miele, and Sub-Zero appliances. Just a few of the kitchen’s appliances include two refrigerators, a 60-inch custom gas cooktop, and two dishwashers.
The residence also has a separate library and gallery, providing additional spaces for displaying artwork, reading, and entertaining guests.
Aside from the main living spaces, you’ll find a 1,372-square-foot primary suite with a private terrace, a wet bar, and two custom dressing rooms each paired with its own en-suite bathroom.
Spread out across the floor plan, four additional bedrooms each have their own en-suite bathroom.
Extensive Building Amenities
Beyond the penthouse itself, 111 Murray Street offers residents an extensive collection of amenities designed around wellness, recreation, and entertaining.
The building features a full-service wellness center and spa, complete with a hammam, treatment rooms, a 75-foot indoor lap pool, and a fitness center.
For families, the tower includes a children’s playroom, interactive splash pad, and a separate arcade room for teenagers.
Residents also have access to a private dining room with a demonstration kitchen, screening room, glass-enclosed patisserie, and landscaped garden.
Final Thoughts
The 157-unit tower has become one of Tribeca’s most prominent luxury residential buildings, with its architecture and extensive amenities attracting buyers seeking high-rise living in Lower Manhattan.
For Saghian, the purchase adds a new Manhattan residence to his real estate portfolio, offering more than 7,600 square feet of interior space, panoramic views, and access to an extensive collection of private amenities.
The $31 million acquisition also reinforces his reputation for buying high-profile luxury properties, with his portfolio now stretching from one of Los Angeles’ largest mansions to a penthouse overlooking nearly the entirety of Manhattan.
