Fashion Nova CEO Drops 14.7 Million on Ted Sarandos Malibu Retreat

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When Ted Sarandos and Nicole Avant put their Malibu home up in the marketplace in April, the hefty $15 million ticket appeared choose it might preclude a quick sale. Not so — the oceanfront La Costa Seaside property went like proverbial hotcakes, selling in solely two weeks for $14.7 million, all-cash. That is $4.5 million larger than the couple paid for the place in 2013. Nevertheless it took some time for the spendy purchaser’s identification emerge — he is Richard Saghian, the enigmatic proprietor and founding father of Instagram-famous apparel juggernaut Trend Nova.

For these not versed throughout the extraordinarily worthwhile depths of Instagram promoting and advertising, Trend Nova is arguably the social media neighborhood’s best success story and a pioneer of the controversial “quick vogue” movement. The cut-price apparel mannequin — acknowledged for its daringly risqué outfits and large array of sorts and cuts — turned an in a single day phenomenon resulting from early endorsements from megastars like Cardi B, Kim Kardashian, Kylie Jenner and totally different prime influencers. Cardi B is such an unlimited fan of the mannequin, having talked about it in numerous songs, that she and Saghian collaborated to launch the Cardi B x Trend Nova apparel assortment, which reported raked in $1 million in product sales on a single day .

Trend Nova’s success has moreover spawned a slew of copycat rivals throughout the “fast-fashion” realm it created, lots to the consternation of some environmentalists. Followers of the company, nonetheless, stage to the mannequin’s moderately priced value elements, noting that the LA-based agency offers couture-style outfits at a mere fraction of the value totally different designers would value.

Saghian’s new Malibu digs have a bit little bit of a celeb pedigree. Sarandos and Avant bought the house from actor David Spade, who had renovated the Mediterranean villa-style home all through his possession. Inbuilt 1996 and secured from Pacific Coast Freeway behind a window, the mini-estate incorporates a brick courtyard accented by a stone Buddha and flowering bougainvillea crops, plus a dark-bottomed plunge pool and wee cabana with its private bar.

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The foremost house spans about 3,800 sq. ft with numerous items of glassy French doorways spilling out to oceanside balconies. There are al fresco consuming loggias, high-ceilinged public rooms, and a kitchen with top-of-the-line Viking house tools. A skylit staircase ferries residents to the upper diploma, the place the grasp retreat sports activities actions a vaulted ceiling, private balcony and delightful whitewater views.

Sarandos, the co-CEO of Netflix and Avant, the Motown heiress and former US Ambassador to the Bahamas, although their main private a $34.2 million property up north in Montecito, which they purchased from Ellen DeGeneres and Portia de Rossi in 2018. However their residence stays a barely stunning Gothic-meets-Italian Revival-style mansion in LA’s Hancock Park neighborhood, purchased for $16 million in 2015 from Melanie Griffith and Antonio Banderas.

As for Saghian, his main residence stays a $17.5 million mansion in LA’s Hen Streets house, extreme throughout the hills above West Hollywood. Designed by Paul McClean, that house was beforehand owned by the late DJ Avicii and choices jetliner views of the entire LA basin. It was on the Hen Streets property the place earlier this yr a theft suspect was killed in a shootout with Saghian’s bodyguards.

Jonah Wilson of Hilton & Hyland and Chris Cortazzo of Compass collectively held the itemizing; Stuart Vetterick of Hilton & Hyland and Branden and Rayni Williams of The Beverly Hills Estates repped the consumer.

Extra from DIRT

  • Britney Spears’ Notorious Former LA Mansion Sells for $6.1 Million

  • Tyra Banks Lands Malibu Seaside Home

  • ‘Marvel Girl’ Director Patty Jenkins Provides Nineteen Twenties Nation English Cottage to Portfolio

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