THE world’s most expensive house has finally gone on sale as the developers set a staggering $ 500 million price tag for an LA Super Pad.
Dubbed “The One,” the property spans over 100,000 square feet and features 21 rooms, four swimming pools, a bowling alley, and 360-degree views of Southern California from its prime location in Bel-Air.
Other features are expected to include a beauty salon and a 45-seat IMAX cinema, complete with a garage that can accommodate 30 cars.
Thirteen of the 20 bedrooms are in the main house, including a sprawling 5,500-foot master suite that alone is twice the size of the average American home.
There is also an athletic track and at least four swimming pools, not to mention the moat and an indoor spa.
It’s so haughty that the neighbors are said to be Friends star Jennifer Aniston and Tesla boss Elon Musk.
The mouth-watering interior was designed by film producer turned developer Nile Niami who worked on the property for over seven years.
Until recently, the exact layout and specifications had been kept under wraps, but photos eventually emerged showing the scale of the massive house he hopes to sell to the highest bidder.
Speaking in an interview last year, he said he was “ready to test the market” with the price tag on the eyes.
He said: “When you have something as rare as the Mona Lisa, you can order whatever you want for it.”
If it hit something like asking price, it would break the record for America’s most expensive house – currently the $ 238 million penthouse bought by hedge fund billionaire Ken Griffin in Manhattan.
It would also eclipse the $ 275 million a Chinese tycoon would pay for a mega-mansion in Knightsbridge, London, and the world record of $ 300 million a Saudi prince paid for a French castle.
But, as CNBC reported, the sale would be anything but simple – having been buried under $ 165 million in debt and heavy loans.
These include Los Angeles billionaire Don Hankey of Hankey Capital – who loaned Niami over $ 115 million and served Niami a notice of default in March – and Yogi Securities Holdings which has over $ 36 million. immobilized in The One.
CNBC also reports that the project also represents approximately $ 1 million in debt to air conditioning, concrete and tool companies.
This means that the Los Angeles County Superior Court will require that the property be sold at a significantly reduced rate.
Ted Lanes of Lanes Management, who would now be putting the finishing touches on the Super Pad, said: “What I would love to see happen is for the house to be completed, for the certificate of occupancy to be issued and for us to have an orderly sale. that maximizes value.
“I hope that the proceeds from the sale will be sufficient to fund secured and unsecured creditors and for equity to realize some value.”
The architect behind the project is Paul McClean, a Hollywood designer whose recent clients include modern Bel Air princes and princesses, such as the Bitcoin billionaires, the Winklevoss twins and style icon Calvin Klein.
But real estate expert Jonathan Miller said the home’s eye-catching features actually make it less salable.
He told Bloomberg last year: “The problem is, the more amenities you add, the more you personalize the property.
“While the intention is to get the real eye on the property, you personalize it as well, which can reduce the size of the market pie.
“It’s a very small and very tight market.”
Previously, another super Bel-Air mansion that was once America’s most expensive house for sale has proven difficult to move despite its grand designs.
The 38,000-square-foot property called Billionaire was listed by developer Bruce Makowsky for $ 250 million, but was ultimately sold for $ 94 million in October 2019, a 62% price drop.
And a prime Beverly Hills plot called The Mountain – listed at $ 1 billion although not developed – was auctioned off in 2019 for $ 100,000.
Another house dubbed America’s most expensive, a lavish Bel-Air estate where The Beverly Hillbillies was filmed, saw its asking price of $ 350 million knock down $ 160 million.
Developer Niami has previously courted publicity by using gold-draped semi-nude models to advertise another LA mansion, named Opus, which went on sale in 2017 for $ 100 million.
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the-sun : The most expensive house in the world on sale with its own nightclub and 50-seat cinema