Nile Niami’s Infamous Home ‘The One’ – SOLD AT AUCTION

The infamous mega mansion in Bel Air has officially sold at auction, after 10 years of construction and several years of recent headaches faced by the developer, Nile Niami. Today we do a quick recap on what is going on with this prestigious piece of real estate, and then we cover the auction results.

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I have been tracking Nile Niami's spec build The One for going on a year now as the project began to make headlines for it being the biggest house in the world, the most expensive house in the world, and due to some legal battles that Nile Niami was facing with the property due to him not being able to afford the construction loans, and ultimately filing for bankruptcy. The One was originally expected to fetch as much as $500 million dollars when finished, but more recently was marketed by Aaron Kirman / Branden & Rayni Williams for $295 million dollars. Concierge auctions put this property up on their auction block on February 28th and the auction just ended yesterday on March 3rd. Spoiler alert, the home sold for around enough to pay off the primary credit Don Hankey with Hankey Capital. But will everybody else involved be paid?

I hope that you enjoy this video and if you have comments please leave them below. See you next video!

-Scott

#nileniami #theone

Disclaimer: This channel, and any communication shared during these videos, should not be taken as financial or legal advice. Viewers should retain their own legal counsel or financial expert(s) before making their own decisions. If you need legal advice, please contact an attorney directly. If you need financial advice, please contact a Certified Public Accountant or a Certified Financial Planner or other licensed professional. I (Scott Edward) am not a CPA, attorney, insurance, or financial advisor and the information in these videos shall not be construed as tax, legal, insurance, construction, engineering, health and safety, or financial advice. And one more thing.. Links included in this description might be affiliate links. If you purchase a product or service with the links that I provide I may receive a small commission. There is no additional charge to you! Thank you for supporting my channel.

Видео Nile Niami’s Infamous Home ‘The One’ – SOLD AT AUCTION канала Real Estate Report