When fast-growing healthcare apparel company FIGS Inc. went public on the New York Stock Exchange (NYSE) last year, it was the recipient of a number of “firsts.” It was the first time pre-IPO shares had been made available to Robinhood traders. It was the first medical professional-targeted clothing company to go public. And it was the first time a company had been taken public by two female co-founders: co-CEOs Heather Hasson, a Los Angeles native with a background in fashion design, and Catherine “Trina” Spear, a former Wall Street investment banker born and bred in Miami.
So the stories go, it was Hasson, 39, who first came up with the idea for Figs, circa 2013. Spear, 38, who holds a Harvard MBA and worked at private equity giant Blackstone, heard about Hasson’s startup idea through the grapevine and reached out to her; it was Spear who helped develop the idea into a viable business and guided the company, best known for their trendy line of fitted scrubs that are sold directly to healthcare professionals. (Santa Monica-based Figs, in case you’re wondering, is named after Hasson’s favorite fruit.)
The coronavirus pandemic brought major success to Figs, in the form of increased demand for scrubs, masks and other healthcare-focused apparel. In 2020, revenue was $263 million and net profit topped $57 million, well over 100% more than 2019. Following the IPO, shares surged 36%, and Hasson and Spear each sported net worths of nearly $700 million.
Since then, Figs stock has crashed — like much of the market as a whole — cratering 72% from its peak. But Hasson and Spear are already set for life, it would seem. Trading records show that during the last four months of 2021, Hasson sold more than $102 million of her Figs shares, while Spear cashed out to the tune of nearly $65 million. And with their bank accounts stuffed to the proverbial brim, it’s probably no surprise that both CEOs went hunting for pricey Los Angeles real estate.
They found what they’d been looking for, too. Last December, Hasson paid a whopping $56.6 million for a giant estate in Brentwood’s leafy Mandeville Canyon, while Spear chose to carve out a more conservative tack, dropping “only” $22.2 million for a brand-new home in Brentwood’s ultra-posh Brentwood Park pocket, just minutes away from Hasson’s digs.
The two deals were all-cash and ranked as the 2nd and 9th biggest Brentwood residential transfers for all of 2021, per records. And Hasson’s big splurge is believed to be the third-most ever paid for a home on L.A.’s Westside — or at least west of the 405 freeway, behind only the $65 million that Scooter Braun paid for another Mandeville Canyon home and the $83 million Palisades mansion bought last year by tech CEO Austin Russell.
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Image Credit: via MLS We wrote about Hasson’s new house when it was first put up for sale last fall, asking an eye-popping $64.5 million. The seller was Matt Wollman, a low-profile entrepreneur who made his fortune primarily via the manufacture and distribution of massage chairs.
Situated deep within Mandeville Canyon, at the very end of a little-known road, the estate is secured by towering walls and massive driveway gates.
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Image Credit: via MLS The L-shaped house is certainly impressive, originally built in 1993 and including six bedrooms and eight bathrooms in nearly 12,000 square feet of living space.
But it’s outside where the estate really best flaunts its full $56.6 million value. The listing brags that the property “has the most magnificent gardens of any estate on the Westside of Los Angeles,” and that’s perhaps not an exaggeration.
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Image Credit: via MLS In addition to the 6.22 acres of exquisitely landscaped grounds, the estate is surrounded by another seven acres of the undeveloped Santa Monica Mountains preserve, meaning the place is essentially one giant park with no neighbors. (it also means that Hasson will likely need to hire at least a couple full-time gardeners just to maintain the huge spread.)
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Image Credit: via MLS Although the listing doesn’t include any photos of the home’s interiors, the spaces are believed to be traditional with a Tuscan-influenced flair. There are numerous patios and loggias, plus at least one outdoor fireplace.
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Image Credit: via MLS Upstairs, the master suite packs in a marble bathroom, a private sitting room and dual dressing rooms, per the listing. Other in-house amenities include a media room, children’s playroom, and a formal dining room that can seat 22.
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Image Credit: via MLS Out back, the pool is ringed by mature olive trees. Beyond that, a grassy lawn spills out to what is perhaps the property’s most unexpected feature — the underground conference room, buried under the lawn, and complete “with [a] towering vault door entrance.” Though not shown in photos, the space is “perfect for large meetings with state-of-the-art technology and security,” again per the listing.
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Image Credit: via MLS Elsewhere on the vast property are vegetable and herb gardens, numerous bunches of fragrant lavender and rosemary, and an orchard with more than 20 types of fruit trees.
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Image Credit: via MLS Acres of meadows and grass transport lucky visitors to a place far, far away from Earth’s mortal sadness — or maybe just a place far from the city of Los Angeles.
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Image Credit: via MLS There’s also a full-size tennis court, fully lighted for nighttime play, that includes a covered viewing pavilion for spectators.
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Image Credit: via MLS As for Spear’s new Brentwood home (below), that place also includes six bedrooms and eight bathrooms in more than 11,000 square feet of living space. But its style is remarkably different from Hasson’s spread; instead of a Mediterranean home, this mansion is an ultra-chic modern farmhouse, built new in 2021, designed by prolific Westside architect Ken Ungar, and including just about every high-tech amenity known to mankind.
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Image Credit: via MLS The two-tone structure sits behind tall gates. One of Spear’s nearest new neighbors is billionaire (and L.A. mayoral hopeful) Rick Caruso, who lives just a few doors away.
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Image Credit: Adam Hunter Inside, there’s a “gracious and casual floorplan,” per the listing, plus notably plush interiors with a striking array of soft, feminine colors and furnishings. The fireplace-equipped living room lies immediately adjacent to the lavender-lacquered dining room, and both include contemporary chandeliers that likely cost more than the average new Kia.
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Image Credit: Adam Hunter A delicately curved and “fluted” staircase alterantely leads down to the basement level or upstairs, to the main bedroom level.
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Image Credit: Adam Hunter Like the rest of the interiors, the Waterworks gourmet kitchen was conceptualized and executed by L.A.-based Adam Hunter Design.
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Image Credit: Adam Hunter Upstairs, the primary suite includes its own sitting area, dual closets and a primary bathroom slathered in Calacatta Cielo marble.
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Image Credit: Adam Hunter Also on tap is an in-house “wellness center” with a plunge pool, massage room and gym.
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Image Credit: Adam Hunter The soundproof screening room is spiffed up with blush-colored mohair seating.
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Image Credit: Adam Hunter Out back, the negative-edge swimming pool offers a fire feature, and there’s a glass-walled pool house with a full bathroom and an al fresco dining pavilion.