As their looming sentencing date fast approaches, Lori Loughlin and Mossimo Giannulli are cutting ties to their current neighborhood in L.A.’s posh Bel Air area. In addition to resigning from the exclusive Bel-Air Country Club, the couple’s nearby mansion is also in escrow to be sold, sources say. The buyer is Tinder co-founder Justin Mateen, a Los Angeles native who already owns a substantial luxury real estate portfolio.
The heavily discounted deal has not yet recorded, but the sources say the sale price “significantly” undercuts the property’s most recent $28.7 million pricetag, and it’s further still below the couple’s original, and profoundly unrealistic, $35 million wishlist ask from more than three years ago. According to one source, the agreed-upon amount is a mere $18 million, give or take a handful of Rick Singer-assisted USC admissions.
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.
Walled and gated for privacy, the 12,000 sq. ft. villa’s architecture is perhaps best described as Mediterranean with a heady contemporary twist. Behind a towering hedgerow lies a generously-scaled motorcourt, where guests are visually accosted by a long bank of front-facing garage doors before they climb a long flight of olive tree-lined steps to the mansion’s front door.
Inside, Aunt Becky’s cushy Bel Air digs include a foyer with a double-height ceiling, a vividly basket-weave patterned stone floor and a long wall of glass doors that individually pivot out to a slim loggia, where there’s lush views of the adjacent country club. A baronial living room opens on one side to the backyard lawn; on the other, to a courtyard with a lap-lane swimming pool. Other spaces include a lounge, formal dining room, gourmet kitchen with marble countertops and restaurant-quality appliances, and five guest bedrooms, plus an upstairs master suite with dual baths and closets. There’s also a gym, which may or may not still include a rowing machine.
Longtime fans of beauty YouTuber Olivia Jade — Loughlin and Giannulli’s younger daughter — will undoubtedly recognize many of this home’s interior spaces, which were frequently featured on her YouTube channel. The house has also hosted a number of other prominent YouTube creators, including David Dobrik, Zane Hijazi and Trisha Paytas, who all filmed at the property prior to the college admissions scandal being publicized.
Mateen, 34, resigned as Tinder’s CMO in 2014 following widely publicized sexual harassment allegations. Besides his upcoming Loughlin-Giannulli mansion acquisition, he owns a $15 million estate in nearby Holmby Hills, a luxury condo at the new West Hollywood Edition building, and property in Las Vegas.
It’s not yet known where Loughlin and Giannulli plan to live after their sentences are completed, but Loughlin is expected to receive two months in prison and be ordered to pay a $150,000 fine. Giannulli will receive five months and pay $250,000 for his part in paying $500,000 to have the couple’s two daughters admitted to USC. The couple’s sentencing is scheduled for Aug. 21.