The deal is significantly below the $35 million they first tried to shop the almost 100-year-old home for in 2017, but still more than the $13.9 million the pair bought the property for in 2017, records show.
Embattled television star Lori Loughlin and her fashion designer husband Mossimo Giannulli have bid adieu to their mansion in Los Angeles’ swanky Bel Air.
On Wednesday, the pair—who are embroiled in the college admissions scandal—sold the estate for $18.75 million to Tinder co-founder, Justin Mateen, according to the listing brokerage The Agency.
The deal is significantly below the $35 million they first tried to shop the almost 100-year-old home for in 2017, but still more than the $13.9 million the pair bought the property for, in 2017, records show.
However, they’re likely looking at a loss on their investment considering the additional $15 million they spent on updates during their tenure.
The upgrades to the Italianate-style villa included the additions of a new kitchen and family room with a modern, industrial feel, including concrete floors and geometric iron windows.
Built in 1929, the six-bedroom estate, which overlooks the lush Bel-Air Country Club, has a Hollywood pedigree. Columbia Pictures founder Harry Cohn built the original home; talent agent Johnny Hyde also lived there at one time; as did actor Charles Bronson in the 1970s and ’80s.
Arvin Haddad of The Agency held the listing and declined to comment on the sale.
Ms. Loughlin, 56, is best known for playing Aunt Becky in sitcom “Full House” and its reboot, “Fuller House,” and Mr. Giannulli, 57, founded and then sold the Mossimo clothing brand. The couple are due to be sentenced on Aug. 21, after pleading guilty in May to taking part in the college-admissions scandal.
A representative for Ms. Loughlin did not immediately respond to a request for comment and Mr. Giannulli could not be reached for comment.
Mr. Mateen, 34, resigned from Tinder in 2014 following allegations of sexual harassment. He could not be reached for comment.
The Los Angeles Times first reported the sale.
Source: Mansion Global
(Note: The story has been published without modifications to the text. Only the headline has been changed.)