America’s biggest new mansion auctions for $141 million

A 105,000-square-foot Los Angeles megamansion known as “The One” sold at a bankruptcy auction for $141 million.
It was built by Nile Niami, who promoted it as the “biggest and most expensive modern home in America,” with an eventual asking price of $500 million.
The megamansion was placed into receivership last year.
Real-estate executives speculate that the buyer may be another developer who plans to improve and change the property, get the proper permits and eventually re-sell it.

America’s biggest new mansion auctions for $141 million 106998054-1641517061268944AiroleWay-print-64

America’s biggest new mansion auctions for $141 million 106998054-1641517061268944AiroleWay-print-64

A 105,000-square-foot Los Angeles mega-mansion that was listed for $295 million sold at a bankruptcy auction for $141 million, ending a 10-year-saga of soaring debt and failed dreams.

The auction for the property, known as “The One,” ended Thursday night with the highest bid at $126 million. Including the buyer’s premium, the final sale price will be $141 million, according to Laura Brady, CEO of Concierge Auctions, which auctioned the home.

The price makes it the third most expensive home ever sold in Los Angeles, behind Marc Andreessen’s $177 million purchase last year of a Malibu compound and Jeff Bezos’ purchase of the former Jack Warner Estate in Beverly Hills for $165 million.

“The One” is also the most expensive home ever sold at auction in the U.S. and the world - far surpassing the $51 million price for a home auctioned last year in Beverly Park.

“It was a very competitive bidding process,” Brady said. “We had a strong field of bidders, with bidders from multiple countries.” Brady declined to comment on the buyer, who is expected to be revealed to the bankruptcy court in the coming days.

.https://www.cnbc.com/2022/03/03/americas-biggest-new-mansion-auctions-for-141-million.html

America’s biggest new mansion auctions for $141 million

America’s biggest new mansion auctions for $141 million

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