THE world's most expensive house has finally gone on sale as developers set a staggering $500million price tag for an LA Super Pad.
Nicknamed "The One," the property sprawls over 100,000 sq ft and boasts 21 bedrooms, four pools, a bowling alley and 360 degree views over Southern California from its prime location in Bel-Air.
Other features are said to include a beauty salon and a 45-seat IMAX cinema, equipped with a garage with space for 30 cars.
Thirteen of the 20 bedrooms are in the main house, including a vast 5,500ft master suite that on its own is twice as big as the average US house.
There are also a running track and at least four swimming pools, not counting the moat and an indoor spa.
It's so high brow that neighbours are said to include Friends star Jennifer Aniston and Tesla boss Elon Musk.
The mouth-watering interior was designed by film producer turned developer Nile Niami who has worked on the property for more than seven years.
Until recently, the exact layout and specs have been kept still a secret, but pics have finally emerged showing the sheer scale of the enormous home which he hopes to sell to the highest bidder.
Speaking in a interview last year he said he said he was "willing to test the market" with the eye watering price tag.
He said: “When you have something that’s as rare as the Mona Lisa, you can command whatever you want for it.”
If he achieves anything like the asking price it would smash the record for America's most expensive home - currently the $238million penthouse bought by hedge fund billionaire Ken Griffin in Manhattan.
It would also eclipse the reported $275million a Chinese tycoon is paying for a mega-mansion in London's Knightsbridge, and the world record $300million a Saudi Prince paid for a French chateau.
But, as reported by CNBC, the sale would be anything but simple – having been buried under $165 million in hefty debts and loans.
These includes L.A. billionaire Don Hankey of Hankey Capital - who loaned Niami over $115 million and served him with a default notice in March – and Yogi Securities Holdings who has over $36 million tied up in The One.
CNBC also reports that the project is also about $1 million in debt to air conditioning, concrete, and tool companies.
It means that Los Angeles County Superior Court will require the property to be sold at a significantly discounted rate.
Ted Lanes of Lanes Management, who is now said to be adding the final touches to the the Super Pad said: “What I would love to see happen is that the house gets completed, the certificate of occupancy is awarded and we have an orderly sale that maximizes the value.”
“Hopefully, there will be sufficient proceeds from the sale to fund the secured and unsecured creditors and for the equity to realize some value.”
The architect behind the project is Paul McClean, a Hollywood designer whose recent clients include modern-day princes and princesses of Bel Air, such as Bitcoin billionaires the Winklevoss twins and style icon Calvin Klein.
But property expert Jonathan Miller said the eye-catching features of the house actually make it less sellable.
He told Bloomberg last year: “The problem is, the more amenities you add, the more you personalize the property.
“Even though the intention is to draw eyeballs to the property, you are also personalizing it, which may reduce the size of the market pie.
"It’s a very small, very tight market.”
Previously another Bel-Air super-mansion that was once the most-expensive home for sale in America, proved problematic to shift despite its grand designs.
The 38,000 sq ft property called Billionaire was listed by developer Bruce Makowsky for $250million but eventually sold for $94million in October 2019, a 62 per cent price cut.
And a prime plot in Beverly Hills called The Mountain - listed for $1billion despite being undeveloped - sold at auction in 2019 for $100,000.
Another house dubbed America's most expensive, a palatial Bel-Air estate where The Beverly Hillbillies was filmed, had $160million knocked off its $350million asking price.
Developer Niami has previously courted publicity by using semi-naked models draped in gold to advertise another LA mansion, named Opus, which went on sale in 2017 for $100million.
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