Think Seattle’s real estate is pricey? Check out Los Angeles’ “The One,” a $500 million mega-mansion that could be yours this year for a record-breaking price.

Ready to see what $295 million will get you these days? Let’s take a look.

So first off is the home $500 million or $295 million? At its completion, “The One” was set to be sold for $500 million but that’s a bit of a steep price.

the one nile niami
Photo via Concierge Auctions

Not only that, but owner, Nile Niami, defaulted on more than $165 million in debt last September according to CNBC. So as part of a bankruptcy agreement, the home is going live on Concierge Auctions for $295 million on February 28th.

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nile niami
Photo via Concierge Auctions
nile niami
Photo via Concierge Auctions

Despite its huge price cut, if the home sells for asking, it will be the most expensive home ever sold in the US. Only slightly Surpassing Ken Griffin’s $238 million NYC penthouse that he purchased in January of 2019. But will it actually sell for asking? Niami is hoping so despite some large flaws like “cracks in and around many of the pools and stonework, as well as signs of mold,” according to the CNBC article.

the one nile niami
Photo via Concierge Auctions
Photo via Concierge Auctions

So what does the most expensive last-ditch ever home sale have to offer? The home boasts 105,000-square-feet of living space, 3.8 acres of land, 21 bedrooms, 47 bathrooms, and 7 half baths. The home also sits on top of a small leveled mountain in Bel Air and has amenities likeĀ a full nightclub, full-service salon and spa, 10,000-square-foot sky deck, 400-foot private outdoor running track, and a Dolby Digital theater seating over 40.

Photo via Concierge Auctions

You know, all the things you’d expect a several hundred million dollar home to have.

the one nile niami
Photo via Concierge Auctions

Now here’s the deal, if you want to try your luck at being the next owner of this home you’ll have to wire $250,000 to Concierge Auctions and show proof of funds to qualify for bidding. Until then, we’ll get to wait and see if any more house drama unfolds. Have a great week folks!