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There are also the more usual suspects, too - Saudi and Emirati sheikhs, and big crazy rich money from Hong Kong, Taiwan, and Mainland China. Previous reports have indicated Niami plans to focus on new money tech tycoons á la Jan Koum, who sold WhatsApp to Facebook and has since spent more than $300 million on luxury California real estate, and Honey founder George Ruan, who sold out to PayPal for $4 billion and subsequently assembled an $80 million Bel Air compound. Also murky is who would want to purchase a mega-conspicuous residential complex of this scale and magnitude - even at the lowered $340 million mark, it’s still far out of reach for many billionaires. In 2015, Niami claimed the house was being built with a “very specific buyer in mind,” although who that buyer actually is remains unclear. Others claim it looks more like a swollen asylum or hospital - or a rigidly geometric residential white elephant, for that matter. Opinions remain divided about architectural merits of “The One.” Some say the futuristic style will stand the test of time. There’s also a 50-car garage, a four-lane bowling alley, and a skydeck with a putting green.
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At 6,000 square feet, the master suite is bigger than many suburban McMansions it includes its own private swimming pool and at least two bedroom-sized dressing rooms, both of them lavish enough to put any Rodeo Drive boutique to shame. It’s also $100 million more than the country’s most expensive home deal of all time, the $238 million Ken Griffin paid for his New York penthouse in 2019.įor that, buyers will receive a glass-walled contemporary showcase with a cinema-quality home theater, a beauty salon, and an Olympic-sized indoor swimming pool with lounge decks. Still, the rumored pricetag is still double the most expensive home transaction in California historiy, the $165 million paid by Jeff Bezos last April for David Geffen’s 8-acre Beverly Hills estate. That more sober number is a boon for Niami, who has faced recent financial woes, including foreclosure proceedings on other projects, per previous reports. Although the exact number hasn’t been officially released, and the agents involved remain cagey, rumors say the modified ask is “only” now about $340 million, a nod to budget reductions and reality. In keeping with the interior revisions, the asking price has received a big haircut. The mansion’s interiors, like all of Niami’s prior projects, were designed by Kathryn Rotondi of KFR Design. There are outdoor swimming pools, too, no fewer than five of them, all infinity-edged. The nightclub and the room with candy walls remain, however, as does a 50-car garage - sans the planned car turntables - a four-lane bowling alley, and an Olympic-sized indoor swimming pool with lounge decks.
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Ditto for the fresh flowers, the ice bar, and the planned catering kitchen. The jellyfish room proved too costly and impractical it was ultimately scrapped. Some of those expectations have been tempered. Naturally, there would also be an in-house nightclub. The 52-year-old developer promised the house would have a room exclusively dedicated to tanks of live jellyfish, a room for storing fresh flowers, a perma-frozen room with an ice bar, and a room for candy. In 2015, Niami gave GQ his very first public interview about the property, revealing he planned to ask $500 million for the Paul McClean-designed compound once completed. He quickly razed the existing estate, a large midcentury modern mansion in woefully neglected condition, and has since spent many tens of millions more bringing his spec-house to life. The San Fernando Valley native first came to prominence about a decade ago designing Hollywood Hills homes in the $20 million range he’s since graduated to bigger and brasher projects, selling them to the likes of Diddy, Floyd Mayweather, Calvin Klein, and the Winklevoss Twins.Īll of that has culminated in “The One.” Niami bought the eight-acre promontory in late 2012 for $28 million from Rita Kogan, the late video game heiress and daughter of “Space Invaders” creator Michael Kogan. The palatially palatial extravaganza is the personal chef-d’œuvre of Nile Niami, arguably L.A.’s most famous - and famously bombastic - developer of ultra-high-end mansions, the snazzy contemporary kind seen in magazines and bought by billionaires.