The Bonkers Bel-Air Megamansion Known as ‘The One’ Is Reportedly Coming to Market for $340 Million
Seller: Nile Niami
Location: Bel Air, Los Angeles, California.
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Price: $ 340 million (approx.)
Size: 100,000 square feet (approximately)
Architect: Paul McClean
Interior decoration: Kathryn Rotondi
After more than eight years of planning and construction, the Los Angeles area's colossal home is finally ready for its official public debut. Known only as "The One", the property the size of a small shopping center extends over one of the highest promontories in Bel Air and extends over a total living area of around 100,000 square meters. In comparison, the White House weighs just under 55,000 square feet; The 115-room Hearst Castle manages a modest 68,500.
The sheer size of "The One" is difficult to grasp just by looking at the pictures or the numbers, even though it is clearly massive. Take a walk to appreciate the full scope of the project. The mansion stretches for a full quarter of a mile along Stradella Road in Bel Air and juts out across the street like a large white alien spaceship. The property's main driveway on a quiet cul-de-sac known as Airole Way is long and wide enough to put most of the public roads to shame.
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Palatial palatial extravaganza is the personal chef of Nile Niami, arguably the most famous - and famously bombastic - developer of ultra-high-end LA mansions, the snazzy contemporary kind that is featured in magazines and bought by billionaires. The San Fernando Valley native first became famous about a decade ago when he designed $ 20 million worth of homes in Hollywood Hills. He has since completed bigger and bolder projects and sold them to Diddy, Floyd Mayweather, Calvin Klein and the Winklevoss Twins.
All of that culminated in "The One". Niami bought the eight-acre promontory in late 2012 for $ 28 million from Rita Kogan, the late video game heiress and daughter of Michael Kogan, creator of Space Invaders. He quickly demolished the existing property, a large mid-century modern mansion in a completely neglected state, and has since spent tens of millions more to bring his special home to life.
In 2015, Niami GQ gave its first public interview about the property, announcing that it would charge $ 500 million for the Paul McClean-designed connection once it was completed. The 52-year-old contractor promised the house would have a room devoted entirely to tanks of live jellyfish, a room for storing fresh flowers, a permanently frozen room with an ice bar, and a room for candy. Of course there would also be an in-house night club.
Some of these expectations have been tempered. The jellyfish room proved too expensive and impractical; it was ultimately scrapped. The same applies to the fresh flowers, the ice bar and the planned catering kitchen. However, the nightclub and the candy-walled room will be retained, as will a garage for 50 cars - without the planned car turntables - a four-lane bowling alley and an Olympic indoor pool with lounge decks. There are also outdoor pools, no fewer than five, all with infinite edges. The interior of the mansion, like all previous Niami projects, was designed by Kathryn Rotondi of KFR Design.
In accordance with the internal audits, the asking price has received a large discount. Although the exact number has not been officially released and the agents involved are still caged, rumors say the modified request is "only" now about $ 340 million, an indication of budget cuts and the reality. That more sober number is a boon to Niami, which has faced recent financial troubles, including foreclosure proceedings on other projects, according to previous reports.
Even so, the rumored price is still double the most expensive transaction in California history, the $ 165 million Jeff Bezos paid for David Geffen's 8-acre Beverly Hills estate last April. It's also $ 100 million more than the country's most expensive home deal of all time, the $ 238 million Ken Griffin paid for his New York penthouse in 2019.
In return, buyers receive a contemporary glass-walled display case, a cinema-quality home theater, a beauty salon and an Olympic indoor pool with lounge decks. At 6,000 square meters, the master suite is larger than many suburban McMansions. It has its own pool and at least two bedroom-sized dressing rooms, both of which are lavish enough to shame any Rodeo Drive boutique. There's also a 50-car garage, four-lane bowling alley, and a sky deck with putting green.
Opinions about the architectural merits of "The One" are still divided. Some say the futuristic style will stand the test of time. Others claim it looks more like a swollen asylum or a hospital - or like a rigid geometric white elephant from residential areas.
In 2015, Niami claimed the home was built for a "very specific buyer", although it remains unclear who that buyer actually is. Anyone who wants to buy a mega-conspicuous residential complex of this size and scale is also gloomy - even with the lowered mark of 340 million US dollars, it is still far out of reach for many billionaires. Previous reports have shown that Niami wants to focus on new money tech tycoons á la Jan Koum, who sold WhatsApp to Facebook and has since spent more than $ 300 million on luxury California real estate, and Honey founder George Ruan who sold to PayPal for $ 4 billion and then put together a $ 80 million Bel Air connection. There are also the more common suspects - Saudi and Emirati sheikhs and big, crazy, rich money from Hong Kong, Taiwan and mainland China. Should any of them happen to be looking for the biggest and worst connection in all of Tinseltown, there really is only one.
The One is co-marketed by Branden and Rayni Williams of The Beverly Hills Estates and Aaron Kirman of Compass. Vesta designed the mansion's furniture to measure.
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