One-Time Most Expensive House for Sale in America Will Be Auctioned Amid Bankruptcy Proceedings

Andrew M. Santos
mega mansion

mega mansion

Marc Angeles

A Bel-Air mega mansion is being auctioned for a bargain — comparitively.

The famed ‘The One’ estate — which was once listed for $500 million and dubbed the most expensive house for sale in America — will now hit the auction block at the much lower price of $295 million dollars.

The property’s developer Nile Niami and his company Crestlloyd filed an agreement in U.S. Bankruptcy Court in December to auction off the 105,000-square-foot estate to help pay back creditors the $180 million that he spent on the property, according to the Los Angeles Times.

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After nearly 10 years in development, the still-incomplete home designed by Paul McClean will be sold to the highest bidder in February, if Niami’s attempts to stop the sale are not successful.

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