LOS ANGELES – An opulent, but unfinished, 105,000-square-foot mega-villa in the Tony Bel Air section of Los Angeles was listed for $ 295 million on Friday, making it the most expensive residential property in America.
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“It’s a modern masterpiece,” said Branden Williams of The Beverly Hills Estates, who represents the property with Aaron Kirman of the Aaron Kirman Group at Compass CNBC. “It’s four acres on top of a mountain in Bel Air and it can never be built again.”
The extensive grounds called “The One” also have a history of drama, lawsuits and debt. according to CNBC.
“The One” was built by Hollywood producer and developer Nile Niami and was advertised as “the largest and most expensive modern house in America” with a possible price of 500 million US dollars. However, the mega-expansion was placed under bankruptcy administration in 2021 after Niami’s debts on the project exceeded $ 180 million and a bankruptcy agreement signed in December saw the property be sold at auction from Feb.7, the network reported.
The three-day auction will be conducted by Concierge Auctions, CNN reported.
In addition to a 360-degree view of the sea and the Alps and a view of downtown Los Angeles, “The One” also offers 21 bedrooms, 42 bathrooms, a night club, a salon, a spa, a 10,000 square meter sky deck, private running track, Cinema, bowling alley, 10,000-bottle wine cellar and five pools including an infinite moat, the network reported.
Should “The One” sell at its actual asking price, a rarity, the deal would outperform the Ken Griffin hedge fund’s $ 238 million purchase of a Manhattan apartment as the most expensive home ever sold in the United States. CNBC reported.
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