Fashion Nova CEO buys $141 million mega-mansion in Bel Air

Richard Saghian now owns what's considered to be the largest home in L.A., a 105,000-square-foot home known as the "The One"

KABC logo
Tuesday, March 8, 2022
Fashion Nova CEO Richard Saghian wins $141M bid for Bel Air home
A mega-mansion in Bel Air believed to be the largest home in Los Angeles has been sold at auction to Richard Saghian, owner of Fashion Nova.

LOS ANGELES -- A mega-mansion in Bel Air that is believed to be the largest home in Los Angeles has a new owner, at a bargain price.

The property known as "The One" had originally listed at $295 million, but recently sold at auction for close to $141 million.

Richard Saghian, owner and chief executive of Fashion Nova, won the bidding war for the 105,000 square-foot home, according to The Los Angeles Times. The actual bid was $126 million but came out to $141 million with auction costs and commissions.

VIDEO: SF home with no bedrooms sells for nearly $2M

A badly-damaged house in San Francisco's Noe Valley neighborhood reportedly sold for $1.97 million.

It has 21 bedrooms, 42 full bathrooms, a private theater and bowling alley.

Saighian's previous home in Hollywood Hills had been involved in an attempted armed robbery last June. It led to a shootout that killed one suspect and left four others wounded, including Saghian's personal security guard. Saghian was not injured.