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ashion Nova founder Richard Saghian has purchased a waterfront spec home and adjacent non-waterfront house on Miami Beach's North Bay Road for $30 million. The all-cash deal was brokered by Maurice Boschetti of Boschetti Realty Group, who represented the buyer, and Nelson Gonzalez of Berkshire Hathaway EWM Realty International, who represented the seller, Ami Shashoua. Saghian plans to use the waterfront house as a vacation home.

    The 7,800-square-foot waterfront property features seven bedrooms, seven bathrooms, and a range of luxury amenities including a home theater, wine cellar, fish pond, gym, cabana, wet bar, and saltwater pool. The non-waterfront home spans 3,167 square feet with four bedrooms and four and a half bathrooms.

    Shashoua had listed the waterfront property for $76.5 million in February 2023 before reducing the price to $34.9 million. The combined properties were asking just shy of $39 million. Saghian's purchase is part of recent sales activity on North Bay Road, including David and Victoria Beckham's $72.3 million purchase of a waterfront spec mansion.

    Saghian, worth an estimated $1.3 billion according to Forbes, has also recently acquired a new Beverly Hills headquarters for $118 million. He owns several homes in Southern California, including two Hollywood Hills properties, two Malibu beach houses, and The One in Bel-Air, which he purchased at auction for $141 million in 2022.