Fashion Nova CEO Richard Saghian’s $141 Million Mega Mansion in Bel Air
In 2022, Richard Saghian, the CEO of Fashion Nova, made headlines when he purchased “The One” in Bel Air for $141 million.
Referred to as the most expensive home in America, this modern megamansion stands as one of the largest and most extravagant homes in the world.
Designed by renowned architect Paul McClean, “The One” represents the pinnacle of architectural ambition and luxury living, offering unmatched views, amenities, and scale in one of Los Angeles’ most prestigious neighborhoods.
Property Highlights
Price: $141 million
Size: 66,917 square feet
Bedrooms: 21
Bathrooms: 42
Location Bel Air, Los Angeles
Notable Features: Five swimming pools, 30-car garage, bowling alley, 10,000-square-foot sky deck, movie theater, spa and salon, nightclub, multiple bars and lounges, 360-degree views of the Pacific Ocean, downtown Los Angeles, and San Gabriel Mountains.
How Saghian Bought “The One”
Richard Saghian, CEO of Fashion Nova, acquired the estate in a record-setting bankruptcy auction after its developer, Nile Niami, faced financial collapse.
Niami’s company, Crestlloyd, defaulted on $106 million in debt to Hankey Capital, prompting a Chapter 11 bankruptcy filing to halt foreclosure.
Originally listed for $295 million, the property ultimately sold to Saghian for $141 million, far below both its asking price and the $190 million-plus debt tied to it. You can hear more about the sale and its complex backstory in the YouTube video from Forbes.
Take a Look Inside The Estate
Perched atop a hill in Bel Air, “The One” is positioned to maximize panoramic views from nearly every angle. Its 105,000-square-foot footprint includes 66,917 square feet of living space, with the remaining square footage dedicated to entertainment, leisure, and luxury facilities.
The architecture blends glass, water, and open-air design, allowing for easy transitions between indoor and outdoor spaces illustrated in the Instagram post from Chantel Mehraban.
Explore the entire estate in the YouTube video from Enes Yilmazer, where inside, the mansion caters to every imaginable desire, from its full-scale nightclub and private movie theater to its spa, salon, and multiple pools.
The 10,000-square-foot sky deck serves as the crown jewel, offering unobstructed views stretching from the Pacific Ocean to the city skyline.
For car enthusiasts, the 30-car gallery provides a striking showcase, while the bowling alley, fitness facilities, and expansive lounges ensure there’s no shortage of activities.
Realtor Review
As one of the most requested video tours and reviews online, Arvin Haddad took a deep dive into the property, sharing his own thoughts on whether it truly justifies its staggering price tag.
He also explored how, despite its record-breaking sale, the estate’s perceived shortcomings may have contributed to its struggles on the market.
Saghian’s Full $500 Million Real Estate Portfolio
“The One” isn’t the only high-priced real estate in Richard Saghian’s portfolio. He also owns four other homes across Southern California, along with the Fashion Nova headquarters in Beverly Hills. More details on each of his properties can be found in the Instagram post from Houses of Celebs.
Final Thoughts
Richard Saghian’s purchase of “The One” in Los Angeles for $141 million is a testament to his success and his appreciation for the pinnacle of luxury living.
This mansion, one of the most expensive homes in the world, offers an unparalleled blend of luxury, comfort, and entertainment, making it more than just a residence but a statement of architectural and design excellence.
With its vast array of amenities, stunning location, and breathtaking views, “The One” stands as a symbol of the heights that modern luxury living can achieve.
