Update, July 29, 2020: Lori Loughlin and her husband Mossimo Giannulli have officially sold their Los Angeles home for $18.75 million to Tinder co-founder Justin Mateen, The Agency tells House Beautiful.
Arvin Haddad–the star of CNBC’s Listing Impossible and senior estates director and broker associate for The Agency–held the listing. Josh Flagg of Million Dollar Listing Los Angeles and Rodeo Realty represented Mateen. Mateen adds the mansion in L.A.’s Bel Air neighborhood to his already extensive real estate portfolio that includes a $15 million estate nearby in Holmby Hills.
The gated property is designed to look like a Mediterranean-style oasis. The 9,000-square-foot home has six bedrooms and nine bathrooms, windows that look out onto the lawns of Bel-Air Country Club–which Loughlin and Giannulli resigned from prior to the sale–and a lush backyard pool and spa. The home includes a sweeping staircase, media room, paneled library, kitchen with commercial appliances, large dining room, fitness studio, and circular motor court with a multi-car garage.
Original post, July 12, 2020: Full House star Lori Loughlin has reportedly s0ld her Bel-Air mansion to the co-founder of Tinder in the wake of entering a guilty plea in the college admissions scandal that shocked the nation.
The “contemporary Mediterranean” mansion, which Loughlin owned with husband Mossimo Giannuli, boasts six bedrooms, nine bathrooms, and a pool across a regal 12,000 square feet. The couple originally bought the property overlooking the Bel-Air Country Club for $13.9 million in June 2015 and unsuccessfully tried to flip it for $30 million in 2017 following extensive renovations.
The sale price to Justin Mateen came in at well under the $29 million asking price. James McClain, the Variety reporter who first broke the story, pegged the figure at $18 million. That would mean a significant loss for Loughlin and her husband. Per the outlet:
Should that closing price prove correct, it would likely represent a brutal loss for Loughlin and Giannulli, who paid $14 million for the house in June 2015. They subsequently spent another fortune renovating and upgrading every inch of the .69-acre, golf course-fronting property in a casually contemporary style. When taxes, maintenance costs and hefty realtor fees are considered, any remaining chance of profit would almost certainly be wiped out.
“She has someone who is advising her what to do in case she loses her case and goes to prison,” a source told the outlet. “The advisor is there to help her learn the ropes. That’s not to be construed that she thinks she’s going to lose her case. Lori is a planner, and she is doing what she needs to do for all contingencies.”
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