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Fashion Nova CEO Rich Saghian Acquires $141M Bel-Air SFR

Property Image
SOLD
$141,000,000
Branden Williams
Rayni Williams
Aaron Kirman
+ 1

California

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Single Family Residence105,000 SF
Sold 03/04/2022
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Property Image
SOLD

Fashion Nova CEO Rich Saghian Acquires $141M Bel-Air SFR

944 Airole Way, Los Angeles, California 90077, United States

See Similar Deals
Single Family Residence105,000 SF
Sold 03/04/2022
Branden Williams
Rayni Williams
Aaron Kirman
+ 1
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:Single Family Residence
Price Per Square Foot:$1,342
Total Square Footage:105,000 SF
Transaction Type:Sale

The property involved in this transaction is located at 944 Airole Way in Bel-Air. It is a single-family residential (SFR) property with a total square footage of approximately 105,000 square feet. The sale took place on March 4, 2022.

Summary of transaction details

  • Property Type: SFR
  • Sale Price: $141,000,000
  • Price Per Square Foot (PPSF): $1,342
  • Market: Bel-Air
  • Address: 944 Airole Way

The brokers involved in this transaction were Aaron Kirman, Rayni and Branden Williams from Compass. The buyer for the property is Rich Saghian, the founder of Fashion Nova. Saghian expressed his excitement about the unique nature of the property, stating that it is a once-in-a-lifetime opportunity and a part of Los Angeles history. The transaction was reported by the Los Angeles Times.

Players

Aaron Kirman
Christie's International Real Estate
Aaron Kirman
43 deals$900.5M volume(310) 994-9512
BROKER
Branden Williams
The Beverly Hills Estates
Branden Williams
48 deals$1.2B volume
BROKER
Rayni Williams
Williams & Williams Estates Group
Rayni Williams
47 deals$1.3B volume
BROKER
Compass
Compass
BROKERAGE
RS
Rich Saghian
3 deals$195.7M volume
BUYER

Details

SOLD
IMAGE: 03/04/2022 ADDRESS: 944 Airole Way MARKET: Bel-Air ASSET TYPE: SFR BROKER: Aaron Kirman & Rayni and Branden Williams @Compass BUYER: @Rich Saghian - Fashion Nova SALE PRICE: $141,000,000 SF: 105k ~ PPSF: $1,342 QUOTE: The One Bel-Air is a once-in-a-lifetime property that can never be duplicated. There is nothing else like it. As a lifelong Angeleno and avid collector of real estate, I recognized this as a rare opportunity that also lets me own a unique property that is destined to be a part of Los Angeles history,” Saghian said Sunday in an emailed statement to the @latimes

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$500,943.22
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