Big Mansions For Sale In Los Angeles

Big Mansions For Sale In Los Angeles – Meet One Bel Air in Los Angeles, the largest contemporary home in the United States. According to Architectural Digest, the record-breaking property has 10,000,000 square feet of living space, including 42 bathrooms, 21 bedrooms and a 5,500-square-foot master suite. The property is also packed with stunning features and amenities, from a wrap-around marina and 400-foot-long dock to a 30-car garage gallery and its own private nightclub.

Project developer Neil Niami originally sold The One for $500 million. But according to the Los Angeles Times, that number has dropped significantly — most recently to $225 million — due to delays and problems with unfinished construction, several lawsuits and court orders to pay off debts.

Big Mansions For Sale In Los Angeles

Don Hankey, who previously loaned Niami millions to complete another project, filed a foreclosure lawsuit in June, the Los Angeles Times reported. Niami sued Crest Lloyd, Niami’s limited liability company, which owned The One, and Niami defaulted on her debt to keep The One.

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“We got a loan to market and sell the house,” Hankey told the media. “We didn’t borrow money to take risks and do things differently.

Court-appointed receiver Ted Lanes is now managing the property and is responsible for finding a buyer and paying other lenders/creditors, according to the Los Angeles Times.

A sneak peak of Largesturd’s larger (and still very expensive) house can be seen in One’s promotional videos.

In a June 2020 Instagram post, Niami said: “7 years ago I had the idea to create the biggest, most expensive house in the urban world: The One Bel Air. I did it.”

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The video showcases the mansion’s special features, including plans to include a 4-lane bowling alley, 50-seat cinema, housing a verdant wine cellar and 10,000 bottles.

In a post last summer, Niami also noted that a “certain percentage” of the sale of the mansion (worth $500 million at the time) would be donated to charity. No specific charity was identified.

In a two-part tour with film producer Michael Blakey and Niami released on YouTube in April, Niami says she first bought the place in 2012. Viewers can follow the two as they make their way through the luxurious grounds of the palace. Rooms are detailed with exquisite artwork and feature high-tech amenities.

In an article published in the Los Angeles Times on Monday, Niami told the newspaper that she believes the current asking price of $225 million is too low, but she prays that in the future “everything will be terrible with this home”.

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However, there is much work to be done. The court-appointed receiver, Lanes, is rushing to liquidate the property, The Times reported. He estimates the house is $165 million in debt. The rest of the work is worth at least $5 million. The Los Angeles lifestyle is known for the rich and famous, but a hillside estate in Bel-Air represents a new level of luxury.

The $295 million mega-mansion, known as The One, was built by former film producer Neil Niami as the largest and most expensive private residence in the country. The 105,000 square meter property is expected to be auctioned at the end of February.

The 21-bedroom, 42-bedroom home has a 30-car garage, a 10,000-bottle wine cellar, five pools and a 10,000-square-foot sky room—the property is completely surrounded by a boathouse. fashionable as a palace.

According to real estate appraiser Miller Samuel, the auction marked the peak of luxury real estate development in the US as at least 40 residences sold for more than $50 million.

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However, Lux Real Estate founder Aaron Kirman told FOX Business’ Kelly O’Grady “Varney & Co.” In a television interview, he said he was not concerned about the recent exodus from California and other blue states because of high taxes and high crime. the richest people in the world.

“The person who bought this house doesn’t care,” he said. “That’s not part of their reality. Whoever buys that house is going to have a lot of staff, it’s going to be advertised and that’s just part of the game.”

Although buyers of this home may only pay $3.7 million in property taxes, California listing agencies still report an increase in buyers interested in the high-priced property. 105,000 square foot mansion in Bel Air. One, “could be the most expensive property to sell in the United States when it hits the auction block next month.”

The 3.8-acre hilltop property will be auctioned online through Concierge Auctions from February 7-10, with an asking price of $295 million on January 7. The home offers 360-degree views of the ocean and mountains, as well as downtown Los Angeles, from its elevated elevation.

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According to Christie’s Real Estate, only a handful of properties in the world have sold for more than that price, including Chateau Louis XIV in France, La Belle Époque in Monaco and Pollock’s Path Estate in Hong Kong.

“The” is located on 3.8 acres in Bel Air. Credit: Marc Angeles/Style Unlimited Estate Photography

Taking nearly a decade to build, The is being marketed as the first and only condo of its size in Los Angeles, thanks to new city rules passed during the development that currently limit the size of single-family homes. the number of mega-mansions under development.

LA’s Westside is no stranger to nine-figure prices, with another Bel Air estate selling for $250 million in 2017, as well as Beverly Hills home Villa Firenze, which sold for $160 million last year. (Sold in undisclosed quantities.)

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The grand mansion was designed by Paul McClean where big celebrities lived in their mansions. Credit: Marc Angeles/Style Unlimited Estate Photography

But the so-called ‘gigamansion’ is the most distinguished of all. Real estate agent Aaron Kirman, who is selling the property with his Williams & Williams group, called it “the Mona Lisa of the residential world” by phone. ‘

The One has never been put on the market, but if sold, the owners will have a nightclub, salon, spa, 10,000-square-foot sky room, private jogging track, movie theater, bowling alley and 10,000-bottle wine cellar. There’s even a boat: an infinity pool that stretches around three sides of the mansion. At 5,500 square feet, the bedroom alone is twice the size of an average American home.

Amenities include five pools including a salon, spa, nightclub, jogging track, cinema and infinity edge. Credit: Joe Bryant

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The modernist aesthetic adopted by architect Paul McClean, who has designed homes for Beyoncé and Jay Z, Avicii and Calvin Klein, is also streamlined and spare. Neutral colors and clean lines set the scene for unique artworks, including a butterfly installation by conceptual artist Stephen Wilson and a sculpture by Venetian glass master Simone Cenedese for sale.

Property developer Nile Niami says he aims to “build one of the best properties on earth”. But marketing the property would not be a problem. Last September, he announced that the property was once valued at $500 million and the owner had defaulted on more than $100 million in debt and debt, according to court documents. Over the summer, she was court-ordered for complex real estate deals as an alternative to foreclosures.

According to Rainey Williams of Williams & Williams, the $500 million estimate is an estimate and $295 million is more representative of the current market. It’s more “market” and “tangible numbers,” he said.

“Any home over $100 million can take anywhere from a year to five years to sell,” Kirman explained of why he’s going to a live auction. “An auction is the best way to have a deadline,” he said.

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With fewer than 2,800 billionaires in the world, the future host of The One will come from a small pool of potential buyers – unless a group of millionaire friends decide to share the cost.

“It’s a limited market that can afford it,” Kirman said. “But we know exactly who our target is.” Copyright © 2023, Los Angeles Times Terms of Service | Privacy Policy | CA Meeting Notice | Do not sell or share my personal information

After years of construction, foreclosure and bankruptcy, the Bel-Air mega-mansion known as The has been sold.

The mega-mansion known as “The One” sold for $126 million at a bankruptcy auction on Thursday. That’s a big discount from the list price of $295 million, even with a 12% auction fee of $141 million.

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The Bel-Air property set the record for the most expensive home ever sold at auction, but it fell well short of the California sales record held by venture capitalist Marc Andreessen, who bought the Malibu property.

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