CM – Nile Niami’s « The One » Bel-Air is listed for $ 295 million

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Spec developer Nile Niami’s gigantic Bel Air mega-villa, touted as « the largest and greatest house ever built in the urban world, » is being brought to the auction block under an insolvency agreement.

After a default of 180 million US dollars, the property is to be auctioned off to the highest bidder via Concierge Auctions from February 28 to March 2.

The 105,000 square meter modern house at 944 Airole Way, which Niami crowned « The One » officially launched today, January 10, for $ 295 million. A pre-emptive offer before the start of the bidding process could stop the court-ordered bankruptcy auction. But is it likely?

« It could happen, but I expect we’ll be running an auction, » said Chad Roffers, President of Concierge Auctions, who organized the online event in collaboration with listing agent Aaron Kirman by Aaron Kirman. looks after the group at Compass and the husband-and-wife team Branden and Rayni Williams from Williams & Williams in The Beverly Hills Estates.

Located on almost 4 acres high above Los Angeles, the 21-bedroom and 49-bathroom offer top-class 360-degree views of the Pacific Ocean to downtown Los Angeles and the Santa Gabriel Mountains visible from inside and out.

« The One was created for today’s billionaire who has a truly unrepeatable asset and when it sells it will be the world’s biggest purchase, « Kirman said in a statement.

The interior is unique and offers almost every luxury imaginable, from individually curated art installations to a nightclub with a VIP -Area. And that’s not the only distraction.

There is a full-service beauty salon, wellness spa, and state-of-the-art gym with juice bar, four-lane bowling alley, 40-seat Dolby Digital theater, and cigar lounge. Water features abound both indoors and outdoors, from a 64-foot indoor pool to a three-sided outdoor infinity pool.

« This property offers ultra-luxurious amenities that exceed any buyer’s wildest dreams, » she said . « There’s a reason The One is setting a new high for global real estate – more flat land coupled with the best views, more than any other property previously for sale in Los Angeles. »

Niami has  » The One ”conceived in collaboration with the Orange-based architect Paul McClean. The developer planned to list the property for $ 500 million. But after 10 years of development, there is still some work to be done, including landscaping, and the project is deeply in debt.

The Los Angeles Times reported in December that Niami’s development company Crestlloyd LLC owed several lenders $ 180 million.

« Everyone involved agrees that it is right to sell this property quickly and efficiently, » said Roffers on the phone. “The auction will achieve the highest and best price for this property. It’s one of a kind, which makes it perfect for auction to be honest. ”

Concierge Auctions operates in 33 countries around the world and The One has got around.

The auction is not a reserve, ie no starting bid is required. To enter, bidders must place a refundable deposit of $ 250,000 in escrow, provide proof of payment, and sign the terms of sale.

Roffers said he believed this would be another world record for high-end real estate . Concierge Auction already has three, including a 30,000-square-foot, French-inspired castle in Florida that was listed for $ 159 million and sold for $ 42.5 million.

« Often there are great deals » says Roffers. “One of our last big sales was a property in Beverly Park called Villa Firenze.” According to Dirt, the Italian-inspired property in Beverly Hills was auctioned for $ 51 million at a asking price of US $ 165.

« Well, anything can happen at auction, » said Roffers. “I also think that a property that is incomparable gives buyers the confidence that they have paid a fair price. But I’m excited to see what it’s being sold for because it will likely be a world record. ”Related articles

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