Photo: YouTube/Billionaire Drone / Courtesy
The nightmare has finally come to an end for developer Nile Niami, who several years ago began to build ‘The One’, an imposing mansion of Bel Air, in California, which was slated to be the largest and most expensive in the history of the United States, but nothing went as planned.
Although Nile had the idea of putting his property on the market for $500 millions of dollars, the lack of money, their millionaire debts and the high construction costs caused him to abandon his plans and declare bankruptcy.
The residence, which a few months ago was placed in ‘receivership’ (suspension of payments ) by the Los Angeles County Superior Court, was auctioned, on Thursday, March 3, at $126 million dollars, to which should be added the percentage of 12% charged by the auction house per operation, so the final figure would amount to $ 141 millions of dollars .
Although the amount received in the bid is well below Nile Niami’s expectations, the bookmaker ranked it as their most successful real estate auction of all time, having doubled what had been its best figure for a mansion.
So far it has not been released neither the identity of the new owner of the extravagant residence, nor what their plans are with it, as the auction organizers are waiting for the court to approve the purchase.
“There is still a lot of work to be done and it is now up to the bankruptcy courts to move forward with the sale,” stated Aaron Kirman, a real estate agent.
What is ‘The One’ like and why did it cost so much?
‘The One’ got that name because it is a unique house in Los Angeles and will continue to be so being, since the regulations of the city no longer allow the construction of a real estate project of such magnitudes.
The mansion, which has an extension from 105,000 square feet and it took nine years s to be built, enjoys 12 bedrooms, 42 bathrooms, several kitchens, dining room, living room, main room , TV room, among other rooms.
It is completed by a nightclub, bar, bowling alley , golf green, movie theater, spa with Turkish bath, beauty salon, party room for 200 people, seven swimming pools, guest house, as well as space for 40 automobiles, among other amenities.
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