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A 'Brutal Loss' for Loughlin on House Sale

'Full House' star, husband wanted $28.7M for Bel Air mansion, reportedly got just $18M
By Jenn Gidman,  Newser Staff
Posted Jul 14, 2020 9:49 AM CDT

(Newser) – A Tinder co-founder has swiped right on Lori Loughlin's Bel Air mansion, but reportedly not for what she and husband Mossimo Giannulli hoped to get for it. The couple, now awaiting sentencing in the college admissions bribery scandal, originally listed the 12,000-square-foot, seven-bedroom home for $35 million, though that was more than three years ago; they more recently lowered that figure to $28.7 million. But per sources who talked to Variety, the couple sold the house to Justin Mateen for a price "significantly" under their latest asking price. The deal hasn't been officially recorded yet, but one source says it was hammered out for $18 million—almost half of what they wanted when they first started shopping it around.

If that's the actual number, it would be what Variety deems a "brutal loss" for the Full House star and her spouse. They paid $14 million for the home five years ago, but they also spent an undisclosed amount of money to upgrade and renovate it. Adding in maintenance and realtor fees, as well as taxes, "any remaining chance of profit would almost certainly be wiped out" with an $18 million sale, Variety notes. A source downplays any big financial hit to People, noting, "They are still making money from the sale, just not as much as they hoped for." The couple is now said to be hunkering down in another home they own along the shore in Orange County. The two are set to be sentenced on Aug. 21. (Read more Lori Loughlin stories.)

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