Facing jail time, Lori Loughlin sells Bel Air manse at huge discount

The actress and her husband — who both pleaded guilty in the college admissions scandal — listed the 12K sf home for $29M in January

TRD LOS ANGELES /
Jul.July 13, 2020 09:27 AM
Lori Loughlin and husband Mossimo Giannulli sold their 12,000-square-foot Bel Air mansion (Credit: Donato Sardella/WireImage via Getty Images and Realtor.com via Dirt.com)
Lori Loughlin and husband Mossimo Giannulli sold their 12,000-square-foot Bel Air mansion (Credit: Donato Sardella/WireImage via Getty Images and Realtor.com via Dirt.com)

Lori Loughlin and Mossimo Giannulli are parting with their 12,000-square-foot Bel Air mansion at a steep discount, ahead of the couple’s sentencing for their admitted part in the college admissions scandal.

The mansion hit the market for $28.7 million in January, but a source told Variety that the former “Full House” star and Giannulli accepted an $18.7 million offer from Tinder co-founder Justin Mateen.

Giannulli is reportedly a prolific real estate investor in the Los Angeles area.

In May, the couple in admitted in federal court to paying hundreds of thousands of dollars to secure their daughter a spot at the University of Southern California. Loughlin and Giannulli will be sentenced on Aug. 21. She is expected to receive two months in jail, and he is expected to receive five months, according to reports. They had each faced up to 45 years in prison.

The two were among 33 parents across the country that the Justice Department indicted in March 2019 in the largest-ever college admissions investigation.

The couple paid $14 million for the Bel Air estate in 2015, and poured more money into renovations.

Mateen is an L.A. native with a considerable portfolio of real estate in the area, including an estate in Holmby Hills and a condo at the West Hollywood Edition building, Variety reported. Josh Flagg with Rodeo Realty represented Mateen in the Bel Air deal.

Mateen resigned as Tinder’s chief marketing officer in 2014 amid sexual harassment allegations. He’s since also invested in co-living startup Ollie.

The Bel Air home encompasses about two-thirds of an acre and overlooks a golf course. Loughlin and Giannulli’s renovations brought some contemporary design to the Mediterranean-style property. The grounds include a courtyard and a lap-lane pool. [Variety]Dennis Lynch


Related Articles

arrow_forward_ios
(Realtor.com)

Spec mansions in Beverly Park, Beverly Hills sell at big discounts

Spec mansions in Beverly Park, Beverly Hills sell at big discounts
Jeff Bezos and the Beverly Hills home (Getty, Realtor)

Bezos buys Beverly Hills bungalow next to his massive mansion

Bezos buys Beverly Hills bungalow next to his massive mansion
Adam Neumann and the home (Credit: Jackal Pan/Visual China Group via Getty Images and Zillow)

Adam Neumann listing Bay Area “Guitar House” for $27.5M

Adam Neumann listing Bay Area “Guitar House” for $27.5M
Matthew Perry and the apartment (Credit: Kevin Winter/Getty Images and Compass)

Matthew Perry slashes price on massive Century City penthouse

Matthew Perry slashes price on massive Century City penthouse
Miley Cyrus cuts $5M off-market deal for a Hidden Hills abode

Miley Cyrus cuts $5M off-market deal for a Hidden Hills abode

Miley Cyrus cuts $5M off-market deal for a Hidden Hills abode
LeBron James and the home at 9955 Beverly Grove Dr.

Another palace for the king: LeBron James buys Beverly Hills mansion: sources

Another palace for the king: LeBron James buys Beverly Hills mansion: sources
Glenn Stearns and Dean Koontz (Credit: Amanda Edwards and Jason LaVeris/FilmMagic, via Getty Images)

Dean Koontz fan buys author’s Orange County mansion for $50M

Dean Koontz fan buys author’s Orange County mansion for $50M
Saudi Prince Turki bin Nasser and the home (Credit: AMER HILABI/AFP via Getty Images, and Redfin via Dirt.com)

Saudi prince asks $40M for absolutely massive Beverly Park compound

Saudi prince asks $40M for absolutely massive Beverly Park compound
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...