Niami’s “The One” to hit market

Construction said to be near completion, and agents picked for 100,000-square-foot Bel Air mansion

Los Angeles /
Dec.December 01, 2020 06:00 PM
Nile Niami and "The One" mansion (Getty, Society Group PR)

Nile Niami and “The One” mansion (Getty, Society Group PR)

Nile Niami is getting serious about selling “The One” — a Bel Air spec mansion that the developer previously boasted could fetch $500 million.

A Niami spokesperson said that construction is virtually complete with “finishing touches” on the interior pending. And the 100,000-square-foot mansion will hit the market soon, perhaps before year’s end, said Rayni Williams, of the newly formed Beverly Hills Estates Inc.

Rayni Williams and Branden Williams of Beverly Hills Estates along with Compass’s Aaron Kirman will have the listing.

The agents and Niami have yet to agree on a price, Rayni Williams said. It will ask less than $500 million, but likely break the record for a home listing in Los Angeles County. The record for a closed transaction is Amazon CEO Jeff Bezos’ purchase of David Geffen’s Beverly Hills home for $165 million earlier this year.

Niami is known for his Hollywood Hills mansions as well as his flashy promotional videos and Instagram page. But The One has been beset by construction and financing delays, as it was first scheduled for completion in 2017.

While Niami has said in interviews that the home’s asking price is $500 million, The One has never actually hit the market. Williams, Williams and Kirman are its first assigned agents.

The listing would come amid an eventful several months for Niami.

A lender, Joseph Englanoff, took control of a Beverly Hills spec mansion, “The Opus,” from Niami in February.

In October, Compass sued Niami over an unpaid debt in using the company’s concierge service, though both parties say a settlement is close.

And the Daily Mail reported this week that the city of Los Angeles fined Niami five times this year for house parties in violation of Covid laws against large social gatherings.


Related Articles

arrow_forward_ios
Progress Capital partner Brad Domenico and the development at 136 Summit Avenue (Photos via Progress Capital)
Jersey City development advances with $30M construction loan
Jersey City development advances with $30M construction loan
700 Meadow Lane in Southampton and Marcia Riklis (Photos via Bespoke Real Estate; Getty)
Former ad exec asks staggering $175M for Hamptons estate
Former ad exec asks staggering $175M for Hamptons estate
Ken Griffin and 650 Meadow Lane (left) and 15 West Dune Lane (Photos via Google Maps; Compass; Citadel)
The 10 priciest Hamptons homes sales of 2020
The 10 priciest Hamptons homes sales of 2020
(Courtesy of William Pitt/Sotheby's)
Stamford estate with full-size hockey rink asks $7.7M
Stamford estate with full-size hockey rink asks $7.7M
26 Windmill Lane (Credit: Douglas Elliman)
Hamptons compound sells for $45M in area’s biggest sale of the year
Hamptons compound sells for $45M in area’s biggest sale of the year
Ken Griffin and Calvin Klein’s Hamptons compound (Credit: Getty Images, Google Maps)
Ken Griffin in contract for Calvin Klein’s Hamptons compound
Ken Griffin in contract for Calvin Klein’s Hamptons compound
Some asks die hard — Bruce Willis again chops price for Westchester estate
Some asks die hard — Bruce Willis again chops price for Westchester estate
Some asks die hard — Bruce Willis again chops price for Westchester estate
Kyrie Irving (left) and Kevin Durant look on from the bench during a USA men’s basketball game against China on Aug. 6, 2016, during the Summer Olympics in Rio de Janeiro. (Andrej Isakovic/AFP/Getty Images)
Tri-State house hunting: NBA star edition
Tri-State house hunting: NBA star edition
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...