The One mansion of the largest private homes ever built, with a colossal 105,00sq ft of living space will go to the highest bidder tonight during a public auction.
Once valued at $500 million, The One mansion in Bel-Air is being sold for $295 million and will be on the open market until it is auctioned off by Concierge Auctions, an online auction marketplace, from February 28 to March 3.
The home will be sold without reserve, meaning it will sell to the highest bidder. Even if it sells close to the price it’s listed at, it will surely break records.
Currently, billionaire and hedge fund tycoon Ken Griffin’s $238 million New York penthouse in 2019 holds the record as the most expensive U.S. home ever sold.
Developed by Nile Niami, the massive estate took more than 10 years to build and created massive debt for Niami. His development company, Crestlloyd, filed for bankruptcy last year, forcing the home to careen towards auction as part of the bankruptcy proceedings.
However, the home still has about 12 more months of work. The buyer will have to put down nearly $340,000 as a deposit.
The Los Angeles home is one of the largest ever built, and is twice the size of the White House. It spans 105,000 square feet and the property sprawls over 3.8 acres.
Outdoor features include a moat of water on three sides of the home, five pools, a 10,000-square-foot deck and a 400-foot outdoor running track.
The home is more like a personal, private resort than a single-family home. There are a whopping 21 bedrooms, 42 full bathrooms and seven half bathrooms.
Despite its grandiose nature, there is a pared-down, neutral color palette throughout and calming water features.
Within the home, there are custom-curated artworks from artists Mike Fields, Stephen Wilson and glass artist Simoe Cenedese, to name a few. Soaring, 26-foot ceilings make the home feel even larger than it is (if that’s possible), and rooms are oversized and expansive.