Fashion Nova CEO Richard Saghian has followed up a big 2022 in real estate with another ultra luxury purchase in the new year. After purchasing the famed Bel Air estate known as “The One” last Summer for $126 million, Saghian has just closed on a Malibu beachfront home.

Originally listed for $69 million, the PCH property was eventually lowered to $49 million before Saghian got the keys for an even $40 million. 

Featuring six bedrooms and seven baths, the contemporary Carbon Beach home was transformed by the Landry Design Group. The home’s walls of glass and generous patios, courtyards, and decks provide seamless flow for entertaining and sparkling vistas of shoreline, ocean, islands and sky. 

The beachfront patio showcases a covered dining area, outdoor kitchen and barbecue, pool, Jacuzzi, a large outdoor living room, and private steps to the sand. A pass-through window opens to the ocean-view kitchen, which is equipped for the professional chef with top-grade appliances, island with bar seating, and a walk-in pantry. Completing the lower level is a large home theater that opens to the front courtyard. 

Upstairs, the primary suite includes a sitting area/office, a view balcony, walk-in closet and luxurious bath. There is also an ensuite gym/bedroom, which has a service counter, beverage cooler and dumbwaiter lift. 

Topping it all off, an enormous roof deck that is accessed through dramatic retractable glass roof. The space also include a wet bar with seating, barbecue, fire pit, dining area, Jacuzzi, and those exquisite views. 

California Listings expert Chris Cortazzo held the listing along with Gayle Pritchett. Stuart Vetterick of Hilton & Hyland and Branden Williams of the Beverly Hills Estates repped the buyer.