LOS ANGELES – A massive 105,000-square-foot estate dubbed “The One” goes up for auction next month in Bel Air in what potentially could be one of the most expensive U.S. home sales in recent history.
Sitting on 3.8 acres of land with scenic views from the upscale Los Angeles neighborhood, the home at 944 Airole Way was listed for sale Jan. 7 for $295 million with bidding through Concierge Auctions scheduled to take place from Feb. 28 to March 3. The so-called “once-in-a-lifetime gargantuan estate” features 21 bedrooms, 42 full and seven half bathrooms, a private two-story library and a nightclub with a VIP area, the listing shows.
For all the luxury features inside, it’s even more of the same outdoors. It features five separate pools, a 10,000-square-foot sky deck, a putting green and a 400-foot long glass-walled jogging track. Not to mention, it has a seven-bedroom staff quarters, a bowling alley and is surrounded on three sides by a moat.
Those attached to the property concede: It’s likely only accessible to the ultra-wealthy and they contend it has more than its share of ameneties to attract a potential buyer.
“The One is created for today’s billionaire seeking a truly unrepeatable asset, and when it sells, it will be the most significant purchase in the world,” said Aaron Kirman, founder and president of the Aaron Kirman Group and president of the international estates division at the real estate company Compass.
“The One is unmatched in size, scale, safety and triumphant design,” Kirman said.
The Los Angeles Times reported the property was built by film producer Nile Niami through a development company called Crestlloyd. Niami reportedly filed for Chapter 11 bankruptcy in October to keep the house out of foreclosure.
It sets the table for what Chad Roffers, president of Concierge Auctions, called an “exceptional and historic” auction, including for its potential sale price. At $295 million, The One would be the most expensive home sold in the U.S. and the fourth most expensive in the world dating back to 2006, according to Christie’s International Real Estate, which tracks luxury property deals.
The most expensive U.S. estate sold under the Christie’s database was in New York: the $147 million Further Lane Beachfront Estate that traded hands in 2014.
“This house will sell for a big number because it can never be built again in Los Angeles,” said Branden Williams of The Beverly Hills Estates. “The home is your own private resort and the feeling you get from the scale and the views from every angle in the house are extraordinary.”
“Nothing like this else can be created in Los Angeles ever again and there is immense value in that,” Rayni Williams of The Beverly Hills Estates said.
So, might you be the one for The One? Better bring your checkbook (or a wealthy friend or loved one).
Bidding opens at 4 p.m. PST on Feb. 28 at the link here. A $250,000 bidding deposit is being required and according to Concierge, all sales are subject to final approval by the court.