A Los Angeles mega-mansion, at 105,000 square feet and spanning over 3.8 acres on the hills of Bel Air, is about to hit the auction block, and it can be yours for just $295 million.
The nickname for the home is “The One,”According to the, it features 42 bathrooms, 21 bedrooms, including a master suite measuring 5,000 square feet, and a 30-car garage. It also has a two-story office. Robb Report. For the amenities “The One”Multiple swimming pools are available, as well as a four-lane bowling alley and a hair- and beauty salon. There is also a 40-seat movie theatre, a nightclub with DJ booth, and a “philanthropy wing”The magazine reported that the magazine was designed for fundraising galas and charity galas.
But the home’s history doesn’t have quite the glitz and glamor the listing photos portray. The real estate publication says that it has some good points. Dirt.com$165 million in defaulted debts and loans. It will be sold at auction to repay creditors.
Nile Niami (an ex-film producer turned real estate mogul) reportedly bought the property in 2012 for $28 million and then spent the next ten year renovating it with tens to millions of dollars.
He had initially hoped that he would sell the house for $500,000,000.
Dirt.com states that the home remains unfinished and will require a certificate proving occupancy to allow someone to live there. New York Post reported.
The original idea for the home was one Niami had commissioned Paul McLean, a famous architect. He set the parameters and it was the. “most expensive home in the urban world,”According to Robb Report.
Last October, Niami’s limited liability company Crestlloyd LLC, which owns the property, filed for Chapter 11 bankruptcy protection, the Los Angeles Times reported.
Inside Edition Digital could not reach Crestlloyd to comment.