Fashion Nova CEO Richard Saghian is ready to Netflix and chill in Malibu beachfront, having bought his new beachfront home from the streamer’s CEO. It took just three months on the market for Ted Sarandos to find a buyer in the ‘bu.
According to Dirt, Saghian dropped $14.7 million on the Mediterranean-inspired property—just under the $14.9 million asking price.
Located off La Costa Beach in Malibu, the home boasts four bedrooms, three and a half baths, and tons of picture-perfect ocean views. The estate boasts a pool, as well as each access.
Sarandos purchased the home from actor David Spade in 2013 for $10.2 million—well below Spade’s initial asking price of $16 million. And yes, if you’re keeping track, that means the home’s new owner paid $4.5 million more than Sarandos spent originally.
California Listings Malibu expert Chris Cortazzo held the listing alongside Jonah Wilson of Hilton & Hyland. Stuart Vetterick of Hilton & Hyland represented Saghian.