The Bel Air property known as “The One” has finally found a buyer.
The megamansion went for $126 million via auction. According to the Wall Street Journal, the unidentified buyer will also have to pay an auction premium, bringing their total bill to roughly $141 million.
The paper notes that after 40 showings of the property, five bidders actively participated in the auction.
The home spans some 105,000 square feet, boasting 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.
It’s been a long road for “The One,” which, at one point, garnered international headlines with an anticipated listing price of $500 million. However, following the news that its owner, developer Nile Niami, defaulted on more than $100 million in loans and debt, word came that Niami filed for bankruptcy in October and that the home was headed for auction.
Since then, inspections have uncovered a number of issues, including water issues, thanks in part to a large number of pools; bio-organic growth; and significant cracks in the 30,000 square feet of white marble flooring. Also, per the Wall Street Journal, “The One” doesn’t have a certificate of occupancy from the city, meaning it is illegal to live there at this point.
Aaron Kirman of Compass and the Williams & Williams Estates Group held the listing in conjunction with Concierge Auctions.