By KIMBERLEY HAAS
Jaws are dropping as “The One” hits the market at $295 million.
Located on a 3.83-acre lot on Airole Way in the prestigious Bel Air section of Los Angeles, California, the megamansion has 21 bedrooms, 42 bathrooms, and 7 half baths. It is considered to be the most expensive house on the market and is being brokered by The Beverly Hills Estates, which is representing the property with Aaron Kirman of Aaron Kirman Group at Compass.
Click the link above to see the listing. You can also see photos on Realtor.com, where the property was posted on Monday.
“Paradise beyond compare awaits in ‘The One,’ a masterpiece of an estate that truly redefines luxury. This 105,000-square-foot work of art appears to float above the very city of Los Angeles itself, elevated for maximum panoramic views and surrounded on three sides with a shimmering moat of water,” the listing says.
“The One” was built by Nile Niami, a Hollywood producer turned developer and the listing claims a home of this magnitude will never again be built in Los Angeles.
“Five vast pools and incredible water features treat the senses indoors and out. Every imaginable amenity creates incomparable comfort and appeal: a massive nightclub, full-service salon and spa, 10,000-square-foot sky deck, 400-foot private outdoor running track with a glass-walled view of the city, and private theater seating over 40 barely skim the list,” the listing says. “The first and last of its kind, ‘The One’ presents a unique opportunity to experience Los Angeles on a scale beyond your wildest dreams.”
“The One” comes with a history of drama, lawsuits, and debt, according to CNBC. Niami promoted the megamansion as the “biggest and most expensive modern home in America,” and originally wanted an asking price of $500 million.
But as costs soared, Niami’s debt grew on the megamansion and it was placed into receivership.
If the property doesn’t sell now, it will be put up for auction in February.
According to Realtor.com, the estimated mortgage on the megamansion is $1,429,228 a month.
Other estimated costs include more than $1 million a year in maintenance and $4 million in property taxes, L.A. Luxury Realtor Kofi Nartey told Barron’s. Nartey is not connected with the sale.
Rayni Williams is the Founder of The Beverly Hills Estates and told Barron’s reporter Sabrina Escobar that “The One” is a place where the owner has everything they need, all they need to do is fill it with people.
“You have everything you need, and you’re just going to bring in your friends and family,” Williams said.
If “The One” isn’t the perfect megamansion for you, there are plenty of others listed in the area.
The second most expensive home listed in the area is on Cedarbrook Drive in Beverly Hills. It is being brokered by Hilton & Hyland and has a 36.73-acre lot, 19 bedrooms, and more than 24 bathrooms. It is being presented by Rodrigo Iglesias.
This megamansion is listed for $250 million. The estimated mortgage is $1,211,210 a month.
Email story ideas to Editor Kimberley Haas: [email protected]