America’s most incredible new mansion auctions for $141 million
Key takeaways:
- A 105,000-square-foot Los Angeles megamansion known as “The One” dealt at an insolvency auction for $141 million.
- It was constructed by Nile Niami, who advertised it as the “largest and most costly modern house in America,” with an eventual asking cost of $500 million.
- The megamansion was set into receivership the previous year.
- Real-estate executives assume that the customer may be another architect who intends to improve and change the property, get the appropriate access, and ultimately re-sell it.
The $500 Million mansion of America is for auction:
A 105,000-square-foot Los Angeles megamansion documented for $295 million dealt at an insolvency auction for $141 million, concluding a 10-year-saga of skyrocketing debt and fallen dreams.
The auction for the property understood as “The One” terminated Thursday night with the highest offer at $126 million.
According to Laura Brady, CEO of Concierge Auctions, which auctioned the house, including the customer’s premium, the final sale cost will be $141 million.
The cost makes it the third most costly house ever sold in Los Angeles after Marc Andreessen’s $177 million buys the prior year of a Malibu compound and Jeff Bezos’ acquisition of the ex Jack Warner Estate in Beverly Hills $165 million.
“The One” is also the most pricey residence ever traded at auction in the U.S. and the world - far exceeding the $51 million prize for a house auctioned the previous year in Beverly Park.
“It was a very competitive bidding procedure,” Brady stated.
“We had a robust field of bidders, with bidders from numerous nations.” Brady refused to comment on the buyer, who is anticipated to be disclosed to the bankruptcy court in the coming days.
The deal gets to a close, at least for now, one of the most contentious high-end real-estate projects ever. It was constructed by Nile Niami, the charismatic and ambitious ex Hollywood producer who shifted to building some of the most luxurious mansions in Beverly Hills and Bel Air to market for returns.