America’s Most Costly Dwelling Is Headed for Public sale

It claims to be the world’s largest private residence, and one of the most expensive too, and for the first time ever, it’s for sale: The One, located in the tony Los Angeles neighborhood of Bel Air, is a 105,0000-square-foot estate that’s set to be listed in an auction on January 7 for a staggering $295 million. Superstar agents Aaron Kirman of Aaron Kirman Group at Compass and Branden and Rayni Williams of Williams & Williams at the Beverly Hills Estates are collaborating on the listing, along with Concierge Auctions, the managing entity behind the auction. Bidding is scheduled to take place on Concierge Auctions’ online platform from February 7 to February 10.

If the property goes for the asking price, it will be the most expensive home sold in the country and the biggest online purchase ever. However, the home was once estimated at $500 million, making the current asking price seem like a bargain in comparison.

The One was built by developer Nile Niami of Crestlloyd LLC over the last 10 years, according to Kirman, and only recently completed; it has never been lived in and was placed into Chapter 11 bankruptcy protection in October.

The One’s description reads like an engrossing book full of juicy details. Set on 3.8 acres, its elevated position allows for 360-degree views of the Pacific Ocean, downtown Los Angeles, and the San Gabriel Mountains. “It’s sitting on the best promontory in one of the most expensive cities in the world on top of the sky,” says Kirman. “It offers the best views in the city.” The main home is surrounded on three sides by a moat and spans 105,000 square feet—the master bedroom alone is 5,500 square feet and has a patio with a swimming pool and hot tub that overlook the city.

There’s also the gargantuan nightclub; a souped-up beauty salon; a spa with multiple treatment rooms and two saunas; a 10,000-square-foot sky deck; a 400-foot outdoor running track with a glass-walled view of the city; and a Dolby Digital theater with more than 40 seats. Then there’s the four-lane bowling alley; a putting greenl a state-of-the-art gym with Technogym equipment and a 64-foot indoor pooll the juice bar; a tennis court; a 10,000-bottle wine cellar; and a 30-plus-car garage with two car-display turntables.

How about the two-story library with a balcony and water features on three windowed walls? And we haven’t gotten to the large swimming pool with an infinity edge on three sides and a huge deck; the yard, with 30-foot-high palms; ten bars, both indoors and out; a cigar lounge; and then three-bedroom guest house with floor-to-ceiling windows, an Oto Murano chandelier by Vistosi, and parquet flooring. “The One is a mega-mansion that’s truly an architectural triumph,” says Kirman. “The new buyer will be lucky to live in the most trophy property that money can buy.”

But wait, there’s also the site-specific art that’s included in the hefty price. We mean pieces such as an abstract sculpture in the main foyer by contemporary artist Mike Fields, a butterfly installation by Stephanie Fields, and a glass sculpture by the Italian artist Simone Cenedese.

“The One is a mega-mansion that’s truly an architectural triumph,” says Kirman. “The new buyer will be lucky to live in the most trophy property that money can buy.”