Bel Air Mansion Could Break Records With $500 Million Price Tag (If It Sells)
While some of us are living in tiny one-bedroom apartments in Los Angeles, there's someone from the 1% building a mansion in Bel Air that's so massive and expensive that he wants to put it on the market for a whopping $500 million.
Nile Niami, a film producer and real estate developer, is the man behind this ridiculously huge project, according to Bloomberg. Just to give you some perspective, the most expensive home ever sold in the U.S. was a East Hampton, New York estate for $147 million.
What does a $500 million mansion entail? Well, a lot. Niami plans for this estate include a 74,000-square-foot mansion and three smaller homes, totaling more than 100,000 square feet. That's basically 100 times the size of my apartment and nearly twice the size of the White House. It would be the biggest mansion built in the U.S., even bigger than the 90,000-square-foot Versailles chateau that's still under construction in Windermere, Fla. Versailles inspired The Queen of Versailles, the 2012 documentary on the home and the family involved in building it.
Expect a 5,000-square-foot master bedroom, 30-car garage, and casino in the glass-and-metal compound. California drought be damned, this megamansion will also come with four swimming pools (of course, one of them is an infinity pool), and 20,000 square feet of grass over its 4-acre sprawling land that sits atop a hill. The New York Times reports that there will even a be a cantilayered tennis court there as well.
Not everyone is pleased about Niami's project. The plans include removing 40,000 cubic yards of earth. Neighbor Fred Rosen, who used to helm Ticketmaster, told the Times in December about his concerns. "We’re talking 200 construction trucks a day," Mr. Rosen said. “Then multiply that by all the other giant projects. More than a million cubic yards of this hillside have been taken out. What happens when the next earthquake comes? How nuts is all this?”
Niami is known for his massive and flashy developments. He built the Winklevoss twins’ home above the Sunset Strip, as well as a 30,000-square-foot mansion in Holmby Hills that was decked out in Fendi furniture and accessories. This Bel Air mansion he's currently building is expected to take 20 more months to complete. Let's see if anyone actually spends $500 million on this baby.