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ashion Nova founder Richard Saghian has made a splash in Miami Beach with a $30 million all-cash deal for two prime properties on exclusive North Bay Road. The billionaire retail mogul purchased a luxurious waterfront mansion and a house across the street from fintech executive Ami Shashoua, who had initially listed the waterfront home for $76.5 million earlier this year.

    The 7,800-square-foot waterfront mansion boasts stunning views of Biscayne Bay with 75 feet of frontage, featuring seven bedrooms, a theater, gym, and saltwater pool. The luxurious spread also includes a wine cellar, four-car garage, and an elevator. Across the street, the second home features four bedrooms, 4.5 bathrooms, and a new pool and spa.

    Saghian plans to use the waterfront home as a vacation property, adding to his growing collection of trophy properties in California and Miami Beach. The deal came together quickly, closing just 10 days after Saghian made an offer. This latest purchase follows his recent $118 million Beverly Hills headquarters purchase and is valued at over $1 billion according to Forbes.

    Saghian's acquisition joins a string of high-profile purchases on North Bay Road, including soccer star David Beckham and wife Victoria's waterfront mansion for $72.3 million, which they closed on just this week.