Los Angeles Has A Severe Homeless Problem But That Hasn't Stopped The Largess

Written By BlabberBuzz | Saturday, 15 January 2022 05:15

On Friday, A well-known 105,000-square-foot mansion in the Bel Air part of Los Angeles that was dubbed ‘The One,’ was listed for $295 million, which made it the most expensive listing in the United States.

This property is expected to become the most expensive building ever sold in America in case the price is asked, which is going to surpass Ken Griffin’s $238 million purchase of an apartment in Manhattan.

However, if the house doesn’t sell quickly enough, it will be sent to auction in February and, thus, sold to the highest bidder. According to Branden Williams, of The Beverly Hills Estates (the company that is representing the property in cooperation with Aaron Kirman of Aaron Kirman Group at Compass):

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 MUST SEE: IS THIS MITCH MCCONNELL STATEMENT ACTUALLY OFFENSIVE?bell_image

“It’s a modern masterpiece. It’s four acres at the top of a mountain in Bel Air, and it can never be built again.”

Interestingly, ‘The One’ mansion has got a history of drama, lawsuits, and debt. The house was built by Nile Niami, a Hollywood producer turned developer, who endorsed it as the ‘biggest and most expensive modern home in America,’ with an asking price of $500 million. Yet, when costs grew, Niami’s debt on the house increased to more than $180 million. Eventually, last year, the mansion was placed into receivership according to a bankruptcy agreement.

 FEDS EYEING 'DIGITAL DOLLAR' TO COMBAT BITCOIN & BEAT CHINA TO THE PUNCHbell_image

 FEDS EYEING 'DIGITAL DOLLAR' TO COMBAT BITCOIN & BEAT CHINA TO THE PUNCHbell_image

As reported by the sources involved in the court process, ‘The One’ should be sold for approximately $200 million in order to pay back the debt, including the auction fees and other expenses.

According to brokers, interest in the huge mansion is pretty strong. Branden Williams said that he has already got two offers: one from a Saudi royal and another one from a rich Chinese buyer. Williams claims that more offers are expected soon from crypto buyers who are ‘looking at this house as their own space station:’

 YOUTUBE CONTINUES CENSORSHIP OF ALL INVOLVED IN JAN 6THbell_image

 YOUTUBE CONTINUES CENSORSHIP OF ALL INVOLVED IN JAN 6THbell_image

“There is going to be a huge demand for this property. Demand for U.S. real estate is through the roof because the dollar is weak and people want real tangible assets.”

Notably, this estate is not just a house, it includes a full-scale private resort for ‘the billionaire buyer who wants all-inclusive living.’ The mansion occupies 3.8 acres and has 21 bedrooms and 42 bathrooms.

 PSAKI GRILLED OVER MASSIVE SPIKE IN CRIMEbell_image

 PSAKI GRILLED OVER MASSIVE SPIKE IN CRIMEbell_image

It is built on a leveled mountain, so, it has got great views of the Pacific Ocean, downtown Los Angeles and the San Gabriel Mountains. There are also 7 water features, including a massive moat, a nightclub, a full-service beauty salon, a wellness spa, a home theatre that seats 40 people, a bowling alley, a 10,000-bottle wine cellar, 30-car garage and a 400-foot private outdoor running track. As well as that, there is also a three-bedroom guest house with its own infinity pool for guests or staff.

 DESPITE UK DECISION TO 'LIVE WITH VIRUS', PSAKI SAYS BIDEN ADMIN NOT READYbell_image

 DESPITE UK DECISION TO 'LIVE WITH VIRUS', PSAKI SAYS BIDEN ADMIN NOT READYbell_image

Nevertheless, any buyer of ‘The One’ will also have to deal with a handful of financial and legal issues. The house has cracks in most pools and stonework, along with signs of mold. It has several outstanding building and occupancy permits, and a local homeowner’s association is questioning its construction.

Last month, Nile Niami released a video, saying he hoped to turn the home into a crypto investment, selling a new token to investors called ‘The One Coin’ that would be backed by the property, yet, lenders and lawyers have dismissed Niami’s plans. In the mentioned video he said:

“Hopefully, there’s someone out there that is going to want to walk hand in hand with me into the stratosphere.”

According to Aaron Kirman, the house’s dramatic history could become an issue:

“Its controversial history is no secret. But when a potential buyer walks the site, they’ll see the opportunity is so extraordinary that the past won’t really matter anymore.”

The auction, held by Concierge Auctions, is scheduled to take place from the 7th to the 10th of February. All the bidders would have to wire $250,000 and demonstrate proof of funds to qualify for participation.

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