U.S.

LA mansion listed for millions is in debt

The largest house in the country is for sale. And its asking price has dropped by over half.

Meet “The One Bel Air” – a Los Angeles megamansion that is believed to be the largest modern home in the United States. According to Architectural Digest, the record-breaking estate has 105,000 square feet of living space, including 42 bathrooms, 21 bedrooms and a 5,500-square-foot master suite. The property is also adorned with jaw-dropping features and amenities — from a surrounding moat and 400-foot-long jogging track, to a 30-car garage gallery and its own private nightclub.

Nile Niami, the project’s developer, originally put The One on the market for $500 million. But the Los Angeles Times reported Monday that that number has dropped significantly — most recently to a still enormous $225 million — following delays and complications, including unfinished construction, multiple lawsuits and a court-ordered sale to pay debts.

A view of a pool with 4,000-square bedroom above with private pool at the The One Bel Air, a 105,000-square-foot mansion by Nile Niami of Skyline Development and designed by Paul McClean (McClean Design).

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Also according to the Los Angeles Times, Don Hankey, whose business previously loaned Niami millions to complete another project, filed a foreclosure lawsuit in June. The suit was against Crestlloyd, Niami’s limited liability company that owns The One, after Niami defaulted on the debt to keep The One.



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