After defaulting on loans months prior, 'The One' megamansion in Bel-Air is for sale at US$295 million.
After being embroiled in legal issues and defaulting on loans, “The One” in Bel-Air is back on the market.The massive Bel-Air mansion known as “The One” will be up for auction next month with a price tag of US$295 million — which could make it the most expensive house ever sold in the US. The gigantic home was originally expected to list for around US$500 million.
The auction is being held by Concierge Auctions, in collaboration with real estate agents, Aaron Kirman of Compass and Branden and Rayni Williams of The Beverly Hills Estates as stated in a news release.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.The mansion was developed by Nile Niami nearly 10 years ago. “The One” sits on 3.
Niami had borrowed and spent tens of thousands to bring this extravagant home to life over the years, and as of today, it is still unfinished. It hasREAD MORE:The property will be listed on January 7, and if it doesn’t sell on the open market, it will be auctioned off a month later in February without reserve — meaning it will go to the highest bidder.
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