A stunning four-acre lot in Los Angeles nicknamed “The One” is set to break the record for the most expensive home ever sold in the United States.
The plot, which is situated on top of a mountain in Bel Air, has been listed on the market for $295million (£217.5m) by Aaron Kirman of Compass and Branden and Rayni Williams of The Williams and Williams Estates Group to sell the mega mansion.
The two firms will work together with Concierge Auctions for the sale of the property, which will be on the open market until being auctioned from February 28 and March 3.
It will go to market without a reserve and is in line to break the current record, held by billionaire Ken Griffin’s New York penthouse for $238m (£175.48m) as the most expensive house sold in US history.
Kirman told Forbes: “What we have learned from the pandemic is that a home is one of the most important aspects of life.
“As the real estate community knows, there are a very limited number of $300 million homes and it often takes one to five years to sell ultra high-end mega mansions.
“An auction is the best way to sell the home in a specific period of time. The team is open to receiving offers prior to the auction, based on price and terms.
“It is highly probable that the auction will happen in order for buyers to compete to own the world’s ultimate estate.”
Overlooking the Pacific Ocean, downtown Los Angeles and San Gabriel Mountains, “The One” has 21 bedrooms, 42 bathrooms in addition to a nightclub, bowling alley and a fully-serviced salon just to name a few amenities at the stellar estate.
There is also a 40-seat movie theatre, cigar room and 100,000 bottle wine cellar to go with the seven water features, which includes an indoor swimming pool and a moat that wraps around three sides of the property.
Branden Williams said: “The One earns its moniker because a home of this size and magnitude simply can never be built again due to anti-mansionisation laws that were passed in Los Angeles during The One’s construction.
“To have 3.8 acres at the top of Bel-Air with unobstructed 360-degree views from every single room is unparalleled.”
The plot was initially developed by Nile Niami – a Hollywood producer, – who spent 10 years building the estate before running up debts of over $180m (£132m).
His development company Crestlloyd filed for bankruptcy last October and as part of the bankruptcy agreement, the plot could be sold to the highest bidder.
It is estimated that around 12 months of work is still required to finish the estate and that the buyer must put down a deposit of at least $340,000.
CNBC reported that offers from a Saudi royal and a Chinese billlionaire were already placed last month, with crypto buyers also rumored to be interested.
For more stories from where you live, visit InYourArea.