Even though NFTs and the metaverse are popular in real estate right now, The One brings buyers back to Earth. The One mansion in Bel-Air, which was once worth $500 million, is now being sold for $295 million. It will be on the market until Concierge Auctions, an online auction marketplace, auctions it off from February 28 to March 3. The house will be sold to the highest bidder, which means there will be no minimum price. Even if it sells for close to the price listed, it will still set a new record. In 2019, hedge fund tycoon and billionaire Ken Griffin’s $238 million New York penthouse is the most expensive home ever sold in the United States.
Nile Niami built a huge estate that took more than 10 years to finish and put Miami in a lot of debt. Last year, his development company, Crestlloyd, filed for bankruptcy. As part of the bankruptcy process, the home was put up for auction. But the house still needs work for about another 12 months. The buyer will have to put down a deposit of almost $340,000.
Concierge Auctions is working with Aaron Kirman of Compass and Branden and Rayni Williams of The Beverly Hills Estates to sell the home.
Kirman tells Forbes, “The real estate industry knows there aren’t many $300 million homes, and it usually takes between one and five years to sell ultra high-end mega-mansions.” “The best way to sell the house in a certain amount of time is at an auction. The team is willing to hear offers before the auction, as long as the price and terms are right. It is likely that the auction will happen so that people can compete to buy the world’s best estate.
The house in Los Angeles is one of the biggest ever built. It’s twice as big as the White House. The property is 105,000 square feet big and spreads out over 3.8 acres. The outside of the house has a moat with water on three sides, five pools, a 10,000-square-foot deck, and a 400-foot running track.
Kirman says that the pandemic has taught us that having a home is one of the most important things in life. “The property gives you a luxurious life where you don’t even have to leave your house. It has everything you can think of, including five swimming pools, a wellness center with a juice bar, a large salon and spa, game rooms, bars, a bowling alley, a full-size theater, a golf simulator, a rooftop, a cigar lounge, a charity pavilion or special event space, and many other amazing amenities.
The house is more like a private resort than a home for one family. There are 21 bedrooms, 42 full bathrooms, and 7 half bathrooms. Even though it is grand, it has a simple, neutral color scheme and soothing water features all over. Inside the house, there are works by artists like Mike Fields, Stephen Wilson, and Simone Cenedese, who work with glass. The 26-foot ceilings in the home make it feel even bigger than it is if that’s possible, and the rooms are big and open.
“Anti-mansionization laws were passed in Los Angeles while The One was being built, so a home of this size and magnitude will never be built again,” says co-listing agent Branden Williams. “It is unmatched to have 3.8 acres at the top of Bel-Air with 360-degree views from every room.”
Outside, there is a big yard with palm trees that are 30 feet tall, covered patios that blend indoor and outdoor living, and a lot of space for parties. There is also a putting green, a wine cellar with 10,000 bottles, a tennis court, and even a nightclub. The One also has views of the city skyline, the San Gabriel Mountains, and the Pacific Ocean that goes all the way around the building.
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