Most expensive home in America listed for $295M ahead of bankruptcy auction

LOS ANGELES — An opulent, yet unfinished, 105,000-square-foot megamansion in Los Angeles’ tony Bel Air section listed Friday for $295 million, making it the most expensive residential listing in America.

“It’s a modern masterpiece,” Branden Williams, of The Beverly Hills Estates, which is representing the property along with Aaron Kirman of Aaron Kirman Group at Compass, told CNBC. “It’s four acres at the top of a mountain in Bel Air, and it can never be built again.”

Dubbed “The One,” the sprawling compound also carries a history of drama, lawsuits and debt, according to CNBC.

Built by Hollywood-producer-turned-developer Nile Niami, “The One” was promoted as the “biggest and most expensive modern home in America,” with an eventual asking price of $500 million. The megamansion was placed into receivership in 2021, however, after Niami’s debt on the project eclipsed $180 million, and a bankruptcy agreement struck in December scheduled the property to be sold at auction, beginning Feb. 7, the network reported.

The three-day auction is being conducted by Concierge Auctions, CNN reported.

In addition to 360-degree ocean and alpine views, as well as ones of downtown Los Angeles, “The One” also boasts a 21 bedrooms, 42 bathrooms, a nightclub, salon, spa, 10,000-square-foot sky deck, private running track, movie theater, bowling alley, 10,000-bottle wine cellar and five pools, including an infinity-edged moat, the network reported.

Should “The One” sell for its actual asking price, a rarity, the transaction would surpass hedge-funder Ken Griffin’s $238 million purchase of an apartment in Manhattan as the most expensive home ever sold in the United States, CNBC reported.

©2022 Cox Media Group