A back-and-forth bidding war between unnamed parties closed Thursday when Nile Niami’s gargantuan megamansion, dubbed “The One,” sold at auction for $126 million.
An additional 12% buyer’s premium brings the purchase price to just over $141 million, about 52% less than the $295 million sought in January but set a world record for the most expensive home sold at auction.
“In only 55 days, we secured a strong field of global interest from America to Europe, Asia, and The Middle East, doing exactly what we do best — finding the most affluent buyers from every pocket of the world,” said Chad Roffers, president of Concierge Auctions. It handled the online event in cooperation with Aaron Kirman of the Aaron Kirman Group at Compass and Branden and Rayni Williams of Williams & Williams at The Beverly Hills Estates.
Perched high above Los Angeles on nearly 4 acres, Niami planned to list the 105,000-square-foot home he dreamed up in partnership with Orange-based architect Paul McClean for $500 million.
The 21-bedroom, 49-bathroom home also has a full-service beauty salon, a wellness spa and a state-of-the-art gym with a juice bar, a four-lane bowling alley, a 40-seat-plus Dolby Digital theater and a cigar lounge. Water features abound inside and out, from a 64-foot indoor pool to the three-sided infinity edge pool outdoors.
The grounds also include a putting green, tennis court and 400-foot running track. A 30-car-plus garage with two display turntables adds to the ultra-luxurious amenities.
The sale is now pending.
Niami’s development company Crestlloyd LLC went into the bankruptcy auction owing more than $180 million to multiple lenders, some of which will now take a loss.
But they were “very aligned that the right thing to do is to get this property sold quickly and efficiently,” Roffers told Southern California News Group in the month leading up to the auction.
The bidding opened at 4 p.m. Feb. 28.
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