Imagine buying your dream home for $141 million—a place so massive it comes with five swimming pools, a bowling alley, and even its own nightclub. Now imagine finding out you can’t legally live in it.
That’s exactly the situation billionaire fashion mogul Richard Saghian is facing in the Hollywood Hills.
The Fashion Nova founder, who built his empire after dropping out of college, scored one of the most jaw-dropping properties in Bel-Air.
But despite the luxury and the price tag, the house didn’t come with something crucial—a certificate of occupancy.
That means he’s spending millions more just to be able to move in.
The House Everyone Talks About: ‘The One’
The home, known as The One, is no ordinary mansion.
At a staggering 105,000 square feet, it’s the biggest private residence in all of Los Angeles County.
Originally hyped to sell for $500 million, it sits on four acres of prime Bel-Air land and is basically a mini city.
Inside, it’s got 21 bedrooms, 42 full bathrooms, and 7 more half-baths.
There’s also a beauty salon, spa, movie theater, and a 10,000-square-foot sky deck.
Want a juice bar, gym, or cigar lounge? It has those too. Oh, and don’t forget the underground garage for 30 cars.
Why Richard Saghian Can’t Move In Just Yet
For all its glamour, the mega-mansion came with a hidden snag.
The $141 million estate didn’t meet city regulations when Saghian bought it.
Now, workers are tearing down parts of the newly built structure just to bring it up to code. The cost? An extra $20 million—and counting.
Construction crews have been at it for two years.
Massive machinery, new permits, and visibly stressed contractors are all part of the daily scene.
As one eyewitness put it: “It’s crazy to spend that much and still not be able to live there.”
A Dream That Started with Hype—and Ended in Bankruptcy
The land was first bought in 2012 by developer Nile Niami for $28 million.
Niami had big dreams of building the most extravagant home in the U.S., and he hyped it like a Hollywood blockbuster.
But the project spiraled. With 600 workers and over a decade of construction, Niami ended up bankrupt in 2021, buried in debt.
The dream of selling the place for half a billion dollars fizzled out, and it finally went to auction in 2022.
After a series of markdowns, Saghian snatched it up for $141 million—roughly 338 times the price of the average American home.
The Billionaire Behind Fashion Nova
Richard Saghian, 43, is no stranger to luxury. With a net worth of $2.1 billion and a fast fashion empire generating $2 billion in annual revenue, he’s built a global brand from scratch.
He never finished college, but his business instincts paid off.
In 2018, Fashion Nova was the most Googled fashion brand—beating even Louis Vuitton and Gucci.
The Bel-Air mega-mansion is just one of several multimillion-dollar homes he owns around L.A.
When Luxury Turns into a Security Risk
But owning lavish homes in L.A. isn’t just about flashy views—it also comes with danger.
In 2021, Saghian was the target of an armed robbery outside his Hollywood Hills home.
The incident ended in gunfire, leaving one person dead and four others injured, including a critically wounded security guard.
That home? It’s on Blue Jay Way—the same street where Jennifer Aniston once lived during her Friends fame.
Aniston’s Own Frightening Neighbor Saga
Speaking of Jennifer Aniston, Saghian’s new property is just 200 feet from her $21 million estate.
And she’s recently been dealing with her own terrifying ordeal involving an obsessed stalker.
On May 5, 48-year-old Jimmy Carwyle rammed his car into Aniston’s gate.
He was arrested at the scene, and it was later revealed he believed he was Jesus Christ—and Aniston was his “queen.”
A Stalker’s Troubled History Comes to Light
Court documents show that Carwyle had been harassing Aniston for over two years, bombarding her with emails, voicemails, and messages.
His estranged wife, Julia Carwyle, shared her chilling perspective, saying she’s been living in fear too.
“I’ve been through literal hell,” she told Daily Mail. “He’s not a good person.
He’s stalked me in the same way.” Julia had a restraining order in place and was shocked to learn of his obsession with the actress.
Apparently, Jimmy made several trips to California over the past year, convinced that he and Aniston would somehow meet.
Julia says he fully believed they had a connection and were destined to talk.
Court Rules Carwyle Mentally Unfit to Stand Trial—For Now
On May 22, a mental health court in L.A. ruled that Carwyle is currently unfit to stand trial.
He’s been evaluated by psychiatrist Dr. Phani Tumu, who stated that Carwyle cannot participate in legal proceedings.
He’s currently being held at Twin Towers Correctional Facility and wore a protective vest in court, designed to prevent self-harm.
His lawyer has requested a second opinion, and a new evaluation will be conducted soon.
What’s Next for Carwyle and Aniston?
A follow-up hearing is set for May 29. If Carwyle is ultimately found competent, he could face up to three years in prison for felony stalking and vandalism.
If not, he may be sent to a state mental hospital for treatment.
In the meantime, a judge has issued a strict no-contact order to protect Aniston.
Even with the suspect behind bars, the trauma and stress surrounding this case are very real for her—and likely her new billionaire neighbor too.