Richard Saghian, the billionaire founder of Fashion Nova and owner of some of the most expensive properties in the U.S., has added two prestigious Miami Beach mansions to his growing real estate portfolio. Known for his ownership of “The One,” Los Angeles’ largest mansion, Saghian continues to make headlines with his luxurious acquisitions. The latest deal involves a staggering $30 million all-cash purchase of two waterfront homes on Miami’s elite North Bay Road, a hotspot for celebrities like David Beckham, who also resides in the area.
A $30 Million Expansion on Miami Beach’s Elite Waterfront
The two properties purchased by Saghian are no ordinary homes. The larger of the two spans over 8,100 square feet with seven bedrooms and nine bathrooms. Built in 2022, this modern mansion sits on a sprawling 15,547-square-foot waterfront lot, providing 75 feet of prime water frontage with a private dock for boats and jet skis. The house is a showcase of luxury, featuring massive wall-to-wall glass doors that open fully, offering unobstructed views of Miami’s skyline and creating a seamless indoor-outdoor flow. This design makes the home ideal for entertaining guests and hosting high-profile gatherings.
Inside, the home is fitted with high-end amenities expected in a $30 million property. From the Savant smart home control system to a state-of-the-art theater, wine cellar, gym, and even an indoor fishpond filled with stingrays, the residence exudes sophistication and luxury at every turn.
The primary suite offers a private sanctuary with a balcony overlooking the water, while the gourmet kitchen features top-of-the-line appliances, custom cabinetry, and a spacious island perfect for hosting large parties. Outside, the pool and spa area, surrounded by tropical landscaping, provides a resort-like experience for Saghian and his guests, including an outdoor cabana, rooftop terrace, and a four-car garage.
Richard Saghian’s Real Estate Portfolio: From LA’s Biggest Mansion to Miami’s Waterfront
This purchase is not just another trophy for Saghian but a continuation of his strategy to own premier properties in the most exclusive locations. In addition to his recent Miami acquisition, Saghian is best known for purchasing “The One” megamansion in Bel-Air, Los Angeles, for $141 million. The 105,000-square-foot estate is the largest in LA, featuring 21 bedrooms, 42 bathrooms, a nightclub, a casino, a private movie theater, and a sprawling infinity pool with panoramic views of the Pacific Ocean. His LA estate has been hailed as one of the most extravagant homes ever built, and his latest Miami deal further solidifies his status as a leading player in the luxury real estate market.
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Saghian’s Miami Beach mansions join a growing list of high-end properties in his portfolio. The North Bay Road homes add a tropical waterfront escape to his collection, allowing him to enjoy Miami’s warm climate, luxury lifestyle, and the city’s proximity to other influential individuals and celebrities. These homes offer privacy, tranquility, and unmatched views—making them a perfect complement to his urban palaces on the West Coast.
Strategic Investments in Top U.S. Markets
Richard Saghian’s move to acquire these properties comes at a time when Miami is experiencing a surge in demand for luxury homes, especially from wealthy individuals looking to secure premier waterfront locations. North Bay Road is among the most coveted addresses in Miami Beach, home to some of the world’s wealthiest and most famous figures. Saghian’s ability to close the deal in cash speaks to his financial prowess and the growing value of luxury homes in South Florida, which have seen dramatic price increases over the past few years.
Saghian’s penchant for high-value properties aligns with his success as a fashion mogul. His company, Fashion Nova, revolutionized the fast-fashion industry by leveraging social media influencers and celebrities to grow its global presence. That success has given Saghian the resources to indulge in his passion for real estate, building a property empire that spans from the West Coast to Miami’s most elite neighborhoods.
Luxury Living at Its Finest
While the LA mansion known as “The One” remains the crown jewel of Saghian’s real estate portfolio, these new Miami Beach homes add a layer of tropical paradise and opulence to his luxurious holdings. The homes’ proximity to celebrity neighbors like David Beckham further elevates their appeal, offering Saghian a luxurious waterfront lifestyle alongside other powerhouses in sports, entertainment, and business.
In total, these homes embody the ultimate in luxury living, combining exquisite design, premium waterfront access, and some of the finest modern amenities available in real estate today. As Richard Saghian continues to expand his property portfolio, it is clear that his eye for luxury, location, and investment remains as sharp as ever.