Photo: Marc Angeles
A Bel-Air mega mansion is being auctioned for a bargain — comparitively.
The famed ‘The One’ estate — which wasonce listed for $500 millionand dubbed the most expensive house for sale in America — will now hit the auction block at the much lower price of $295 million dollars.
The property’s developer Nile Niami and his company Crestlloyd filed an agreement in U.S. Bankruptcy Court in December to auction off the 105,000-square-foot estate to help pay back creditors the $180 million that he spent on the property, according to theLos Angeles Times.
“What I’m suggesting is taking something like the Mona Lisa and giving the world the right to own it. Instead of sitting in a museum, it’ll have a thousand different uses,” Niami claimed.
Marc Angeles
If the sale proceeds, “The One” would become one of the most expensive homes ever sold at auction.Aaron Kirmanof Compass, who is co-listing the property with Branden Williams and Rayni Williams ofThe Beverly Hills Estates, called it, “the most significant purchase in the world.”
“While in 2021, digital properties like NFTs grabbed headlines for monumental one-of-kind-sales, 2022 brings us back to the physical world with The One — a real estate property unmatched in size, scale, safety and triumphant design,” Kirman said in a statement.
It also includes a nightclub, beauty salon, wellness center with a jogging track, four-lane bowling alley, movie theater, five pools, wine cellar and a 30-vehicle garage with two “car display” tables according toDirt.
The houseis still not finished but will be sold “as is.” It will take an estimated 12 months and $10 million to complete the home.
Niami first purchased the 8-acre plot for “The One” in 2012 for $28 million. He then began building the modern home with plans to sell the property.
Bidding in the no-reserve auction is set to take place from Feb. 7-10.
source: people.com
