Fashion Nova CEO Richard Saghian has reportedly splashed out a cool $40 million for a Malibu, CA, beach pad, according to the Real Deal.

The fast-fashion retailer certainly has a taste for haute real estate.

Saghian picked up “The One” megamansion in Bel-Air at auction for $141 million in 2022. It was hailed as the most expensive residential real estate deal at auction in U.S. history.

As for his most recent purchase, according to the Real Deal, the sleek beachfront estate was originally listed in June for $69 million by Lee Samson, founder of Windsor Healthcare Management.

The original Buff and Hensman home was constructed in 1976. Samson is said to have demolished that structure and then hired Landry Design Group to transform the property into the majestic, modern manse found today.

Dramatic dwelling

Now offering 6,125 square feet of living space, the Southern California home features walls of windows, soaring ceilings, and breathtaking views of the Pacific Ocean.

The six-bedroom home sits on Carbon Beach and comes with 70 feet of beach frontage in a section known as Billionaires Beach, which counts David Geffen and Larry Ellison among its famous, well-heeled residents.

The first floor boasts a chef’s kitchen with high-end appliances, an island with bar seating, and glass doors.

The living room has a sleek gas fireplace along with a jaw-dropping wall of windows.

Upstairs, the en suite bedrooms come with balconies to take in the waterfront views.

A gym is also located on this level and features “a service counter, beverage cooler, and dumbwaiter lift,” according to the listing.

The incredible roof deck is accessed by a “dramatic retractable glass roof” and comes with a wet bar, barbecue, fire pit, dining area, and hot tub.

The award-winning smart home also features patios, courtyards, and decks to take in the spectacular views. There is also a covered dining area with an outdoor kitchen, barbecue area, pool, hot tub, and outdoor living room just steps from the sand.

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