The notorious L.A. mega mansion dubbed “The One” may finally get it’s shining day on the market—albeit under different circumstances than originally planned.
Following news that it’s owner, developer Nile Niami, defaulted on more than $100 million in loans and debt, and then filed for bankruptcy in October, the home is now headed for auction.
According to Bankruptcy Court proceedings, Niami’s Crestlloyd will hire two luxury home sellers to list the Bel property at $250 million. The L.A. Times reports that Aaron Kirman of Compass and the Williams & Williams Estates Group are in talks to hold the listing.
Still under construction, plans for the 105,000 square foot home call for 20 bedrooms, seven pools, a 50-car garage and six elevators. Additional amenities reportedly include a large library, cigar room, candy room, a 10,000-bottle wine cellar, nightclub, a four-lane bowling alley, 50-seat movie theater, a putting green, gym, salon, juice bar and tennis court.
Once marketed at $500 million, initial bankruptcy papers valued the home at $325 million last month.