Fashion Nova CEO Seeks to Rent Malibu Home for $59K a Month

Fashion Nova CEO Richard Saghian has put his 3,800-square-foot beachfront house in Malibu up for rent for $59,000 a month.

Saghian, who has long played in the L.A. luxury home market, will rent the furnished house at 21606 Pacific Coast Highway, on La Costa Beach, according to the Robb Report.

It was Saghian who famously paid $141 million at auction in 2022 for the unfinished The One megamansion in Bel-Air. Nine months later, he paid $40 million for a second house in Malibu, on Carbon Beach.

Now he has decided to rent out his first Malibu home for the equivalent of nearly $16 per square foot per month.

Saghian bought the four-bedroom, four-bathroom house from Netflix co-CEO Ted Sarandos and his wife, Nicole Avant, in 2021 for $14.73 million. In the past, the house belonged to actor David Spade.

The white two-story house, trimmed in black, sits off Pacific Coast Highway behind a two-car garage and a gated entry that opens into a brick courtyard with a stone Buddha fountain and bright bougainvillea.

The Mediterranean-style home, built in 1996, was renovated to include a combined living and dining area with a fireplace and steps leading up to a cozy family room. An adjacent kitchen comes with Viking appliances and a breakfast bar.

A sky-lit staircase leads to the upper floor, where a fireside master bedroom has a balcony with sweeping views of the Pacific Ocean, plus an office and a bathroom with a large soaking tub.

Outside, there’s a dark-bottom plunge pool and a cabana with a seated bar in front of 60 feet of La Costa Beach.

The rental listing, which stipulates a one-time $118,000 security deposit, is held by brokers Branden Williams and Rayni Williams of The Beverly Hills Estates and Stuart Vetterick of Westside Estate Agency.

— Dana Bartholomew