Bel Air’s ‘the One’ mansion, asking for $ 295 million, is finally up for auction – The Hollywood Reporter

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One of the world’s largest houses is set to be auctioned in early February, in bankruptcy proceedings, for $ 295 million. Known since its inception by colorful and controversial developer Nile Niami simply as “The One,” Los Angeles’ monstrous and still incomplete structure has been in the works for 10 years. Originally, the place was expected to list approximately $ 500 million, so you could be getting a good deal, depending on how you look at it. Hmm.

If the place approaches cut-price demand, it will easily rank as the most expensive house ever to be auctioned, long before history. Hearst Estate (now known as the Beverly House), which was auctioned off in September for $ 63.1 million.

Through Aaron Kirman of Compass, who co-registers the property with Branden williams and Rayni williams of The Beverly Hills Estates, The One was created for today’s billionaire looking for a unique asset. “When it is sold, it will be the largest purchase in the world,” Kirman said in a statement. “While in 2021, digital properties like NFTs grabbed the headlines for unique and monumental sales, 2022 brings us back to the physical world with The One – a real estate property unmatched in size, scale, safety and security. triumphant design. “

Niami first purchased the 8-acre headland where “The One” now stands in 2012 for $ 28 million. Rita kogan, the late heiress of the video game and daughter of the creator of “Space Invaders” Michael Kogan. He then razed the existing mid-century modern mansion and then spent several tens of millions more to complete his extravagant contemporary home over the next eight years working with the architect. Paul mcclean. To this day, it is still not finished. On top of the steep sale price, the buyer will also have to shell out millions more – and likely spend months bogged down in construction – just to make the mall-sized complex habitable.

Over the years, Niami borrowed several tens of millions to finance the grandiose project. With more than $ 165 million in overdue loans and debts now accumulated, The One was ultimately placed in receivership by Los Angeles County Superior Court – in a bid to make Niami’s creditors pay off. (For its part, Niami has developed a unique crypto plan to save the colossal house from auction.)

Rising above a quiet Bel Air cul-de-sac known as the Ariole Way, and surrounded on three sides by a water-filled moat, the main residence has 21 bedrooms and an unfathomable total of 49 bathrooms (42 of them with full baths, the rest of the powder rooms) spanned a whopping 105,000 square feet of Catherine rotondi– designed living space. The glass walls offer panoramic views of the ocean, city skyline, and the San Gabriel Mountains; there is also a three bedroom guesthouse and seven bedroom staff quarters.

Residence One.
Marc-Angeles

While there is no jellyfish aquarium or ice bar, as initially promised by Niami, the estate includes a huge nightclub, full-service beauty salon, wellness center, and bowling alley. with four lanes and a 10,000-bottle wine cellar, plus a sky deck with a putting green, glass jogging track, 40-seat Dolby Digital theater, five swimming pools and a 30-car garage with two scoreboards .

Other highlights include a 5,000 square foot main retreat with its own swimming pool and a two-story library / office with balcony, LED hand-lacquered and black built-in elements from Italy and water sports. There are also many stunning custom works of art on display, including a rotating Mike Fields statue adorning the foyer, a lower level butterfly installation by Stephen Wilson, and an outdoor sculpture by Italian Murano master glassmaker Simone Cenedese.

Auctions in the Unqualified Auction are scheduled to take place February 7-10 via Concierge Auctions“Online market.

This story first appeared on Sale.com, which includes additional photos.


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