LOS ANGELES – The massive Southern California estate dubbed “The One” finally may have found the one.
In a bankruptcy auction that closed Thursday, the 105,000-square-foot Bel Air mega-mansion sold for $141 million, including commissions, marking a new record for the most expensive home sold at auction. But the figure for the 21-bedroom, 49-bathroom estate, built by former film producer Nile Niami, wound up well short of the $295 million listing price from when it went up for bids earlier this year by Concierge Auctions.
In total, the home was shown to 40 potential buyers and five bids were made from the U.S. and New Zealand, the luxury real estate auction company said. The winning bid was $126 million, plus a 12% commission.
The identity of the winning bidder was not immediately disclosed, but according to the Los Angeles Times, their name will be disclosed in a filing next week ahead of a hearing before a U.S. Bankruptcy Court judge. Closing on the property could happen by March 21, Bloomberg reported.
In a statement announcing the sale, Concierge Auctions President Chad Roffers said the company’s trademark is fostering high-level luxury auctions and that “The One was no exception.”
“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,” Roffers said. “We’re thrilled to have broken our own previous world record for the fifth consecutive time, once again breaking the record with a California property, and to make history by selling the largest residence to ever hit the global market.”
Most people would be hard-pressed to find something this property doesn’t have. Among many various features, the listing for The One spotlights a two-story library, a beauty salon, a nightclub with a VIP area, five separate pools, a bowling alley and a 400-foot long glass-walled jogging track.
Concierge called it “the largest and grandest house ever built in the urban world.”
The result of the sale also benefits the company’s Key for Key program, which in collaboration with Giveback Homes, will lead to a new home built “for a family in need,” the company said.