California’s legalization of recreational marijuana has reaped incredible financial rewards for many in the cannabis industry, but most notably for those at the very top of the proverbial food (weed?) chain. One of those executives is Carissa Davino, a Chicago resident who now spends a significant amount of time in Los Angeles, where her various business interests are mainly headquartered.
Though she keeps a low public profile, records show Davino is the sole managing member of Double Barrel LLC, the corporate entity that owns a patented dual-chamber vaporizer — something that allows cannabis connoisseurs the ability to vape two cartridges at once. The device, which retails for a princely $90 per unit and is specifically targeted at a “sophisticated yet overlooked connoisseur” has nonetheless become popular throughout the nation, perhaps thanks to endorsements by celebrity vape aficionados. In 2018, Diddy reportedly ordered 50 double barrels for his Coachella crew alone.
Davino is also president of Avanzato Technology, the Westside L.A.-based firm that specializes in manufacturing devices such as e-cigarettes and vaporizers. Avanzato also churns out innovations within its particular field niche, including the increasingly popular vape pens, which have become staple products of high-profile cannabis brands like Dosist.
In addition to Davino’s entrepreneurial vape endeavors, public company financial disclosures reveal the Italian-American marijuana mogul was one of the largest stakeholders in Sunniva, a publicly-traded cannabis firm based in Vancouver. As of 2016, Davino’s partial ownership stake in Sunniva alone was valued at more than $8.6 million.
Last year, Davino put some of that green back into the real estate market, shelling out $9 million for a swank L.A. residence. Built on speculation and completed in 2018, Davino’s boxy contemporary extravaganza lies just above the iconic Sunset Strip, in the lower Hollywood Hills, and is completely surrounded by camera-watched walls and gates for privacy.
Behind the two-tone cream-and-charcoal façade lies a designer residential showpiece that seamlessly merges natural elements — light, water and glass — with exotic details like European hardwood floors and marble quarried in Italy. The enormous great room features a fireplace inset into a monolithic block wall hewn from black marble; the adjoining kitchen features nearly every high-end Miele appliance known to mankind.
There are seven bedrooms scattered throughout the nearly 6,500 sq. ft. mansion, but the undisputed star of the real estate show is the upper-floor master retreat, which listing materials aptly term “epic.” The plush lair has its own living room and is perfect for a CEO, with radiant heated floors and dual showers, toilets and vanities in the spa-like bath. The master’s showroom closet/dressing room wouldn’t look out of place in a Rodeo Drive boutique, and a wraparound balcony takes in city lights views.
Speaking of views, the 1,000 sq. ft. rooftop terrace has even better vistas from its private perch. It’s also got a bar, a jacuzzi and a lounge area with plenty of space for entertaining, or solo vaping. And the expansive rooftop also makes up for the .24-acre lot, which isn’t particularly big for the neighborhood, although the backyard does offer a sexy, negative-edge swimming pool with inset spa.
These days, any state-of-the-art mansion in L.A. — particularly a $9 million one — is expected to be a fully fledged smart home, and the new Davino estate does not disappoint. The entire property can be controlled remotely, via a Control4 system, from the touch of the owner’s iPad. Lights, sound and cameras are easily monitored or adjusted from afar, a necessity given the increasingly global nature of the modern era’s high-flying jetset.
Ben Bacal and Lolita Pagramyan of Revel Real Estate held the listing; Michael LaMontagna of Compass repped Davino.
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