Spear and Hasson’s houses are quite close to each other.
By Dolores Quintana
Catherine “Trina” Spear and Heather Hasson, co-CEOs of the FIGS healthcare apparel company have both purchased new estates with the profits from their sale of FIGS stock after they sold their stock after the company went public as reported by The Dirt.com.
The idea for FIGS came from Hasson, aged 39, in 2013. Spear, aged 38, has an MBA from Harvard and experience working with the private equity firm Blackstone and when she heard about Hasson’s idea for a startup, Spear contacted Hasson and together they developed the startup idea into a workable business model and with Spear’s help, Hasson was able to guide the company and its line of fitted scrubs marketed and sold directly to health care workers. Yes, the company is named after the fruit which is Hasson’s favorite.
The company went public last year on the New York Stock Exchange and was awarded the “first” of their pre-IPO shares being sold on Robinhood to traders on that platform and was also the first medical professional clothing company to go public. Not to be forgotten, FIGS was also the first company to go public that had two female co-CEOs.
Heather Hasson is a native of Los Angeles with a background in fashion design and Catherine “Trina” Spears was born in Miami and is a former investment banker.
Ironically, the pandemic gave FIGS the success that it has denied many other companies because there was a large demand for medical scrubs, masks and healthcare apparel during the emergency. The company’s revenue in 2020 was $263 million and its net profit was over $57 million. This represented a 100 percent increase in profit from the previous year. After the company went public, shares went up 36 percent which gave Hasson and Spear net worths of almost $700 million.
Since Spears and Hasson both cashed in their shares in late 2021, their net worth didn’t take a beating in the early 2022 stock market crash where FIGS stock lost 72 percent of its value. Both of the women seem to be set for life. Hasson sold over $102 million of her stock shares and Spear divested $65 million in shares. Naturally, house hunting in the most exclusive neighborhoods was their next move.
In December, Hasson bought a large estate in Mandeville Canyon, within the chicest areas of Brentwood for $56.6 million. Spear exercised more caution and bought a mansion in the upscale Brentwood Park neighborhood for $22.2 million, which is located very close to Hasson’s new home.
Both of these sales were all cash and are considered the second and ninth most expensive residential property purchases in the Brentwood area for 2021. Hasson’s lavish purchase is considered the third-highest amount paid for a home on the Westside past the 405 freeway. It ranks after Scooter Braun’s $65 million purchase of yet another estate in Mandeville Canyon and tech CEO Austin Russell’s $83 million purchase of a Pacific Palisades manor.
Hasson’s new home was sold by Matt Wollman, who is an entrepreneur who keeps out of the limelight and made his fortune through the manufacturing and distribution of massage chairs. The estate is located in the deepest interior of Mandeville Canyon near the end of an obscure road. Security is tight for the property and has imposing walls and huge driveway gates.
The property is quite isolated from the surrounding city and sits on 6.22 acres of well-manicured grounds and is adjacent to seven acres of completely undeveloped land that is part of the Santa Monica Mountains national recreation area. The property is akin to a giant park that has no neighbors. While no interior pictures come with the property listing, The Dirt believes that the home has a traditional Tuscan theme. The huge house has multiple patios and loggias and one listed outdoor fireplace.
The master bedroom upstairs has a marble bathroom, dual dressing rooms and a private sitting room per the listing. The listing also notes that the home has a media room, children’s playroom, and a formal dining room for 22 people. In the backyard, there is a pool that is surrounded by mature olive trees and a large lawn that leads to a surprising amenity, namely an underground conference room. This room is buried in the lawn and comes “with [a] towering vault door entrance.” as quoted by The Dirt.com. While this feature is not pictured in the listings photographs, the listing does say that the meeting room is “perfect for large meetings with state-of-the-art technology and security,”
The backyard has a number of gardens, vegetable, herb and flower gardens with lavender, rosemary and an orchard that contains 20 different types of fruit trees.
Spear’s home has six bedrooms and eight bathrooms with more than 11,000 square feet of space. However, the home’s style is markedly different from Hasson’s mansion. This estate is of the modern farmhouse style and was built in 2021 by Ken Ungar, an architect that seems to never stop working. The home also has just about every amenity imaginable.
The home is a two-tone edifice hidden behind looming gates. This home is close to billionaire mayoral candidate and real estate tycoon Rick Caruso.
The listing notes that the home has a “gracious and casual floorplan” that comes with plush interiors and sumptuous furnishings and a soft feminine color scheme. For example, the living room, with a fireplace, is right next to the lacquered lavender dining room hung with contemporary chandeliers. The staircase is “delicate and fluted” as quoted by The Dirt,com and goes upstairs and downstairs.
Adam Hunter Design is responsible for this home’s interiors, including the Waterworks gourmet kitchen, the master bedroom with its own sitting room, dual closets and a bathroom outfitted with Calacatta Cielo marble, a “wellness center” that has a gym, massage area and plunge pool.
There’s also the blush-colored, mohair seating in the in-house and soundproof screening room. Finally, the backyard has a negative edge pool that comes with a fire feature and a pool house with glass walls, a full bathroom and an al fresco dining area.