February 24, 2024 Breaking News, Latest News, and Videos

Bel Air Megamansion ‘The One’ Is Finally Being Put up for Sale

$295 million asking price for infamous property

By Dolores Quintana

The One, the most famous of all the megamansions and allegedly the biggest and most over the top of them all, has finally been listed for sale at $295 million as reported by Realtor.com. In addition, the home will be part of an online auction starting in February. As quoted by Realtor.com, the listing agent Aaron Kirman of Aaron Kirman group says simply, “It’s one of a kind.” The property will also be represented in the sale by Williams and Willams agents Branden and Rayni Williams at the Beverly Hills Estates. Concierge Auctions will manage the online auction as partners to both of these agents. The bidding will be open worldwide from February 7 through February 10 unless the property is purchased before the bidding opens. It can take a while to sell such a huge property but real estate agent Rayni Williams was quoted by Realtor.com and she said,  “There’s a reason ‘The One’ is setting a new high watermark for global real estate. [It has] more flat land, coupled with the biggest views—more so than any other property previously for sale in Los Angeles.”

The One would come to a buyer completely furnished, even though it still lacks a certificate of occupancy permit and still needs to be inspected by the city for safety and code compliance before anyone can occupy the property. 

Realtor Branden Williams says, “Of California’s many world-class locales, Bel-Air continues to attract some of the world’s biggest stars, because of its reputation for the utmost residential privacy, fantastic weather, and relaxed local lifestyle.” as quoted by Realtor.com

Nile Niami is the developer who bought the property and built the megamansion, but he no longer owns it. Niami defaulted on $165 million in debts and the property is now owned by a third party as part of a receivership. 

Real estate agent Kirman said “It’s the kind of house that could never be built again.” as quoted by Realtor.com.

The megamansion spans 105,000 square feet and is double the space of the White House. It comes with the most luxurious amenities like a 64 foot indoor pool in addition to a 5000 square  master bedroom that comes with its own private pool. The home has a curated art collection, bowling alley, tennis court, and an onsite nightclub. The rooms have 26 foot ceilings and that second level comes with a two story room that can be used as an office or a library. The home has magnificent views of the entire city from its hillside location. 

The lower level has a beauty salon, juice bar, theater, gym and a 10,000 bottle wine cellar. In addition to all that, the property has a three bedroom guest house, six elevators, and a 30 car garage in addition to five outdoor pools in the yard area that is encircled by 30 foot palm trees. 

Kirman says that his office has already been contacted by billionaires who are interested in the megamansion. He says, “It’s a once-in-a-lifetime opportunity to acquire one of the finest residential sites in the world,” he says. “This really is the Mona Lisa of real estate. For those who can afford it, it’s a great opportunity.” by Realtor.com.

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