Asking $295 Million, Bel Air’s ‘The One’ Mega-Mansion Is Finally Slated for Auction

LuxuryJune 20, 2022

The 105,000 square foot mansion, also known as “The one” is to be set up for auction this coming February. The property owner, Nile Niami, now has other plans, to transfer the money earned from the mansion to cryptocurrency coins.

The mansion has a huge market value since it’s still under construction and renovations despite being under works for ten years. This is the reason why the price has been slashed to almost half of its original value of 500 million dollars. However, the house is still one of the most expensive pieces of real estate worldwide right now.

Take a look at what makes this house so special.

Ben/ Pexels | The Bel air house overlooks the open oceans

Niami worked wisely with the property that he bought in 2012 for $28 million from Rita Kogan, and gradually worked on its design, size, and materials working will Paul McClean, an esteemed architect; hence it is now one of the best purchases a billionaire could have.

It has a massive wine cellar, five pools, a nightclub, theatre, beauty salon, and much more. Other than that it also includes sculptures and figurines created by famous Italian artists. These extravagant decorations and infrastructure within the property may explain the price marked over the house.

Pixabay/ Pexels | Sit poolside and watch the beautiful sunset over LA

Pixabay/ Pexels | A pool is always a great place to relax

As the site is still unfinished, buyers have to keep in mind that they’ll have to spend their own money to finally finish the property. The Concierge Auctions will conduct the auction from February 7 to February 10. The organization will only receive about 15% of the money earned, while has Niami made sure that the rest would come to him through remarkable crypto returns.

What makes it worth the cost?

Naturally, you might be wondering what makes this property worth among the most valued properties on the planet?

Well, the answer to that is simple: luxury. The house boasts amenities that not the houses of billionaire superstars like Shaquille O’Neal can claim. The luxurious pools, indoor gaming, and cinema make the house truly one of a kind.

Just the number of bathrooms in the house is borderline ridiculous. The interior of the house is fully furnished with a crimson reflective paint that oozes ambiance and grace. The locality of the house is also at one of the city’s best viewing points so you can spend your afternoons overlooking the city skyline or head over to the opposite side to look at the sunsets over the shore.

Pixabay/ Pexels | The house comes alive as the city lights up

This house is the stuff dreams are made of. Entering the house feels like you’ve entered an alternate universe where all of your wildest experiences have come true.

Ironically, selling the mansion wasn’t Niami’s first choice. He tried to pay off those loans by opening the property for basketball, boxing tournaments, and even concerts, but he finally gave up and looked ahead. The property awaits a new owner for now.