The most Expensive Home in the United States is Called 'The One' & it's listed for $295,000,000 {Watch}

Owner: Richard Saghian

Architects: Paul McClean

Developer: Nile Niami

Youtube: Enes Yilmazer

-----------

The One is a private residence in Bel Air, Los Angeles, California, United States. It is a compound of a main residence and three smaller houses in the modernist style and was developed by Nile Niami. The property is 105,000 square feet (9,800 m2) on 3.8 acres (1.5 ha).

Construction began in 2014. Following delays, it was completed in 2021. Niami initially sought to sell the mansion for $500 million, but his company fell into bankruptcy and the building sold at auction for $126 million, a record auction sale price in the United States.

Niami acknowledged that he had to halt construction at times due to a lack of financing. Niami borrowed $82.5 million from Don Hankey's investment fund, Hankey Capital, in 2018. The debt grew to over $110 million by March 2021, when Hankey served Niami with a notice of default, giving Niami 90 days to repay the debt. 

Crestlloyd, Niami's limited liability company, defaulted on a total of $165 million of debt stemming from the property in March 2021. Crestlloyd went into bankruptcy under Chapter 11 in an attempt to prevent The One from falling into foreclosure but the Los Angeles County Superior Court put the property into receivership in July.

 

Niami sought to create a cryptocurrency called The One Coin that would be backed by the house to raise funds to pay off the debt, but the plan did not succeed.