Photograph: Dan Tuffs for the Guardian 4,004 Likes, 466 Comments - Nile Niami (@nileniami) on Instagram: “7 Years in the making. REAL NEWS, REAL DEALS DELIVERED DIRECTLY TO YOU. Saddled with debt, the spec mansion developer is facing foreclosure on the recently-completed 100,000-square-foot Bel Air property, according to the Los Angeles Times. Truly. … Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. Los Angeles Times - For years, spec developer Nile Niami has teased “The One” — a 100,000-square-foot mega-mansion in Bel-Air that he hoped to sell for $500 million. Niami, known for his brazen personality and wildly ambitious real estate projects, borrowed $82.5 million from Hankey Capital in 2018 to build the extravagant home. Source link Related PostsLooming evictions may soon make 28 million homeless in U.S., expert saysMajor apartment developer: 'There is an acute crisis headed our … Saddled with debt, the spec mansion developer is facing foreclosure on the recently-completed 100,000-square-foot Bel Air property, according to the Los Angeles Times. Nile Niami and Don Hankey with The One (Getty, Society Group PR) Nile Niami is done with “The One” but his financial troubles are mounting. This category only includes cookies that ensures basic functionalities and security features of the website. Share this page:TwitterFacebookGoogle+PinterestLinkedinEmail The One, a 100,000-square-foot mega-mansion in Bel-Air, may be headed for foreclosure as developer Nile Niami owes more than $110 million in outstanding loans. A lender, Joseph Englanoff, took control of a Beverly Hills spec mansion, “The Opus,” from Niami in February. Niami, known for his brazen personality and wildly ambitious real estate projects, borrowed $82.5 million from Hankey Capital in 2018 to build the extravagant home. 58.1k Followers, 123 Following, 73 Posts - See Instagram photos and videos from Nile Niami (@nileniami) As GQ explained back in 2015, buyers of “homes” of this magnitude typically “live on other continents and visit these properties for only a week or two each year, using them mainly as places to park their wealth.”. nileniami THE ONE BEL AIR 7 Years in the making. And the Daily Mail reported this week that the city of Los Angeles fined Niami five times this year for house parties in violation of Covid laws against large social gatherings. But his plans are now in peril. To find out more about the cookies we use, see our. But opting out of some of these cookies may have an effect on your browsing experience. Sold yet? The home hasn’t been listed, but will be handled by Branden and Rayni Williams of the Beverly Hills Estates, along with Compass real estate’s Aaron Kirman. And the 100,000-square-foot mansion will hit the market soon, perhaps before year’s end, said Rayni Williams, of the newly formed Beverly Hills Estates Inc. Rayni Williams and Branden Williams of Beverly Hills Estates along with Compass’s Aaron Kirman will have the listing. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. These cookies do not store any personal information. This website uses cookies to improve your experience while you navigate through the website. LA mansion developer Nile Niami purchased three ranches from Space Invaders heiress Rita Kogan in 2012 for $28 million and combined them into a single estate. Anyway, for those of y’all unindoctrinated, The One is an unfinished giga-mansion located on a massive four-acre Bel Air promontory. But his plans are now in peril. He is due to put an even more luxurious property, known as The One, on the market later this year. This website uses cookies to improve your experience while you navigate through the website. We also use third-party cookies that help us analyze and understand how you use this website. For years, spec developer Nile Niami has teased “The One” — a 100,000-square-foot mega-mansion in Bel-Air that he hoped to The home sits on five acres and is … Designed by architect Paul McClean and interior designer Kathryn Rotondi, the L.A. mansion is set to become the third largest home in America, landing between Oheka Castle in New York (109,000 square feet) and Winterthur in Delaware (96,000 square feet); by comparison, Mar-a-Lago clocks in at a downright cramped 62,500 square feet. Javascript is disabled in your web browser. It’s being built by real estate developer Nile Niami and his longtime architect associate Paul McClean — arguably the most successful pair of spec-mansion builders that LA has ever seen. Niami, known for his brazen personality and wildly ambitious real estate projects, borrowed $82.5 million from Hankey Capital in 2018 to build the extravagant […] Nile Niami is done with “The One” but his financial troubles are mounting. The ‘World’s Most Expensive Home’ Has Been Unveiled and It’s Really Something, Puerto Vallarta Offers The Adventure You Need, The Best Bev for Our Anxiety Addled Times? Nearly a decade ago, mega-mansion developer Nile Niami set out to build “the most expensive house in the urban world.” What he came up with is “the One,” an outrageous 105,000-square-foot spec mansion perched on a five-acre parcel in Bel-Air with panoramic views of the plebs below. The One is big enough to get legitimately lost on your own house. In October, Compass sued Niami over an unpaid debt in using the company’s concierge service, though both parties say a settlement is close. Nile Niami’s ‘The One’ Bel Air Megamansion Finally Hits the Market, at a Discount Dirt - James McClain. Like nothing the world has ever seen. Nile Niami is getting serious about selling “The One” — a Bel Air spec mansion that the developer previously boasted could fetch $500 million. It is mandatory to procure user consent prior to running these cookies on your website. Famously known only as “ The One,” the mini shopping mall-sized estate straddles one of the highest promontories in Bel Air, spanning about 100,000 square feet of total living space. Comprising of 100,000-square-feet, 20-bedroom compound perched high above Bel Air on four acres, with spectacular 360-degree uninterrupted views. The One. Nearly a decade ago, mega-mansion developer Nile Niami set out to build “the most expensive house in the urban world.” What he came up with is “the One,” … But The One has been beset by construction and financing delays, as it was first scheduled for completion in 2017. The Real Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry. For years, spec developer Nile Niami has teased “The One” — a 100,000-square-foot mega-mansion in Bel-Air that he hoped to sell for $500 million. Nile Niami, Don Hanky and The One (Getty, Society Group PR) Nile Niami It’s done in “The One,” but his financial problems continue to grow. Nile Niami (born c. 1968) is an American film producer and real estate developer. A Good Cup of Tea. Please Allow Javascript and reload this page. Just 55,000 square feet. 58.1k Followers, 123 Following, 73 Posts - See Instagram photos and videos from Nile Niami (@nileniami) But his plans are now in peril. ft. mega-mansion went for “about $40 million&#… But his plans are now in peril. Despite hitting the market for $160 million less than originally planned, the palatial estate could still become the most expensive home ever sold in the United States. The One, a 100,000-square-foot mega-mansion in Bel-Air, may be headed for foreclosure as developer Nile Niami owes more than $110 million in outstanding loans.from … Still being developed by Nile Niami and architect Paul McClean, who have taken seven years to construct so far. As the highest-listed home to hit the U.S. market, “The One” is a Bel Air estate that is an overindulgence of luxury. The sheer size is impressive, but the list of amenities is really something (grab a snack; we’ll be here for a minute) and includes: 42 bathrooms, 21 bedrooms, a 5,500-square-foot master suite, a 30-car garage with two car-display turntables, a mote, a 400-foot jogging track, 360-degree views of L.A., 26-foot ceilings, a four-lane bowling alley, a spa level, a movie theater, a 200-cap “philanthropy wing” for charity galas with floating pods overlooking Los Angeles, a 10,000-square-foot sky deck with a putting green, five swimming pools, a juice bar, a cigar lounge, a custom tequila bar, a hair salon, and a gallery with custom-curated artworks by Creative Art Partners. Like nothing the world has ever…” Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. All he needs is a billionaire to snap up his LA hilltop mansion called The One. You also have the option to opt-out of these cookies. In debt, spec mansion developers are facing a recently completed 100,000-square-foot foreclosure of Bel Air’s real estate, according to the Los Angeles Times. According to real estate blog Dirt, the One stretches a full quarter-mile down Stradella Road. These cookies do not store any personal information. Niami told the magazine at the time, “To be able to say that the biggest and the most expensive house in the world is here, that will be really good for L.A.,” but not everyone has agreed. Necessary cookies are absolutely essential for the website to function properly. It is mandatory to procure user consent prior to running these cookies on your website. Photo: theonecalifornia/Instagram Developer Nile Niami once had grandeurs of listing his magnum opus, a 105,000-square-foot mega-mansion known as The One, for upwards of $500 million. But his plans are now in peril. He has developed giga-mansions in Bel Air and Holmby Hills Early life. The ONE, Bel Air, California– the most expensive home in the world. A Niami spokesperson said that construction is virtually complete with “finishing touches” on the interior pending. Speculative developer Nile Niami, who is building a 100,000-square-foot Bel-Air mansion with a rumored price of $500 million, has sold another project in Beverly Hills for about $50 million. We use this information in order to improve and customize your browsing experience and for analytics and metrics about our visitors both on this website and other media. These cookies will be stored in your browser only with your consent. Williams, Williams and Kirman are its first assigned agents. Stay up to date with everything you need to know about L.A. by following us on Facebook and Instagram. The most expensive house in the urban world. Nile Niami’s 105,000-square-foot Bel-Air spec mansion known as ”the One” is rumored to be going for a cool $340 million, This website stores cookies on your computer. Homes Nile Niami Is L.A.’s Megamansion King. 'The One' has been in the making for the last seven years by ex-movie producer turned mega-mansion developer, Nile Niami. Niami, known for his brazen personality and wildly ambitious real … Movie producer and real estate developer Nile Niami’s newly completed mega-mansion has been a labor of love since the land was purchased in 2012. You also have the option to opt-out of these cookies. So, who exactly is in the market for a $340,000 house with a parking garage and a whole-ass wing for “galas”? Originally listed at $100 million, the 20,000 sq. For years, spec developer Nile Niami has teased “The One” — a 100,000-square-foot mega-mansion in Bel-Air that he hoped to sell for $500 million. This category only includes cookies that ensures basic functionalities and security features of the website. Despite hitting the market for $160 million less than originally planned, the palatial estate could still become the most expensive home ever sold in the United States. For years, spec developer Nile Niami has teased “The One” — a 100,000-square-foot mega-mansion in Bel-Air that he hoped to sell for $500 million. Nile Niami's 105,000-square-foot Bel-Air mansion known as "the One" is rumored to be going for $340 million, making it the most expensive home in the U.S. Niles Niami specializes in homes for the super-rich. For years, spec developer Nile Niami has teased “The One” — a 100,000-square-foot mega-mansion in Bel-Air that he hoped to sell for $500 million. For years, spec developer Nile Niami has teased “The One” — a 100,000-square-foot mega-mansion in Bel-Air that he hoped to sell for $500 million. Try again later. But his plans are now in peril. The White House? LA mansion developer Nile Niami purchased three ranches from Space Invaders heiress Rita Kogan in 2012 for $28 million and combined them into a single estate. Nearmi borrowed $ 82.5 million from Hanky … It will ask less than $500 million, but likely break the record for a home listing in Los Angeles County. For years, spec developer Nile Niami has teased “The One” — a 100,000-square-foot mega-mansion in Bel-Air that he hoped to sell for $500 million. Nile Niami at his completed property The Opus in Los Angeles, California. Niami, known for his brazen personality and wildly ambitious real estate projects, borrowed $82.5 million from Hankey Capital in 2018 to build the extravagant home. The 105,000-square foot-luxury property is the latest spec mansion from movie producer turned real estate developer Nile Niami. It is the most expensive private residence in the United States, and at 100,000 square feet will be one of the largest private homes in the US. For full functionality of this site it is necessary to enable JavaScript. "The One… Use Google Forms, Demolish this: Hadid’s embattled spec mansion lists as teardown, Trevor Noah pays $28M for Bel Air mansion after selling another, Staycationers sue luxury rental service for “abysmal” Malibu getaway, Kathy Griffin sells Bel Air mansion for $14M, Bezos, Geffen, Katzenberg dominate LA’s biggest resi sales of 2020. The agents and Niami have yet to agree on a price, Rayni Williams said. While Niami has said in interviews that the home’s asking price is $500 million, The One has never actually hit the market. Niami is known for his Hollywood Hills mansions as well as his flashy promotional videos and Instagram page. All rights reserved © 2021 The Real Deal is a registered Trademark of Korangy Publishing Inc. By clicking Subscribe you agree to our Privacy Policy. Round-up of top news and topics for each of the following cities: Editorially-curated headlines and news to know for the following areas: The numbers behind office leases, retail, sales and financing. Nile Niami hosts over-the-top bashes plotted to attract buzz and buyers to his supermansions amid a cooling real estate market: "In my life, everything is for sale." Nile Niami and Don Hankey with The One (Getty, Society Group PR) Nile Niami is done with “The One” but his financial troubles are mounting. Earlier this week, Nile Niami announced he had sold his infamous Opus estate in Beverly Hills. The brash California developer just unveiled The One, his $500 million project. Comprising of 100,000-square-feet, 20-bedroom compound perched high above Bel Air on four acres, with spectacular 360-degree uninterrupted views. We are having some technical difficulties. These cookies will be stored in your browser only with your consent. Just unreal. For years, spec developer Nile Niami has teased “The One” — a 100,000-square-foot mega-mansion in Bel-Air that he hoped to promote for $500 million. After more than eight years in planning and construction, the Los Angeles area’s most colossal home is finally ready for its official public debut. The One:. Has He Built a House of Cards? Developer Nile Niami once had grandeurs of listing his magnum opus, a 105,000-square-foot mega-mansion known as The One, for upwards of $500 million. We also use third-party cookies that help us analyze and understand how you use this website. Niami, known for his brazen personality and wildly ambitious real estate projects, borrowed $82.5 million from Hankey Capital in 2018 to build the extravagant home. Necessary cookies are absolutely essential for the website to function properly. “The One” and done: Niami faces foreclosure on Bel Air spec mansion, How to sell a mansion for $350M? For years, spec developer Nile Niami has teased “The One” — a 100,000-square-foot mega-mansion in Bel-Air that he hoped to sell for $500 million. But his plans are now in peril. Nile Niami is probably best-known for constructing a 100,000 square-foot spec home in Bel Air dubbed "The One" which he listed for $500 million. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. ABOUT: Built by ex-movie producer turned mega mansion developer, NILE NIAMI, The ONE will be America's largest and most expensive private residence Still being developed by Nile Niami and architect Paul McClean, who have taken seven years to construct so far. Niami, known for his brazen personality and wildly ambitious real estate projects, borrowed $82.5 million from Hankey Capital in 2018 to build the extravagant home. These cookies are used to collect information about how you interact with our website and allow us to remember you. But his plans are now in peril. Much like Mohamed Hadid’s ill-fated, unfinished La Strada, which is set to be demolished once it’s sold, the One’s protracted construction timeline and outsize footprint riled neighbors, inspiring them to form an association and raise $750,000 to enact stricter limits on home sizes. Saddled with debt, the … The listing would come amid an eventful several months for Niami. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. The record for a closed transaction is Amazon CEO Jeff Bezos’ purchase of David Geffen’s Beverly Hills home for $165 million earlier this year. Nile Niami and “The One” mansion (Getty, Society Group PR) Nile Niami is getting serious about selling “The One” — a Bel Air spec mansion that the … The most expensive house in the urban world. From the visionary developer of 21st-century mansions, Nile Niami, THE ONE is the world's largest and most expensive residential listing. By comparison, the White House weighs in at just under 55,000 square feet; the 115-room Hearst Castle makes do with a … But opting out of some of these cookies may have an effect on your browsing experience. For years, spec developer Nile Niami has teased “The One” — a 100,000-square-foot mega-mansion in Bel-Air that he hoped to sell for $500 million. The One, a 100,000-square-foot mega-mansion in Bel-Air, may be headed for foreclosure as developer Nile Niami owes more than $110 million in outstanding loans. Its rumored $340 million price tag matches its magnitude, although it falls short of the $500 million Niami had reportedly hoped to reel in for the property. But his plans are now in peril. The ONE, Bel Air, California– the most expensive home in the world.