The property is known as The One Bel Air, and it fetched $126 million at auction last year.
Marc Angeles
It was listed on Concierge Auctions from February 28 to March 3, 2022.
Joe Bryant
The property, which is 10 years in the making, comes from film producer-turned-real estate developer Nile Niami.
Allen J. Schaben / Los Angeles Times via Getty Images
Niami initially hoped to sell it for a whopping $500 million, which would have made it one of the most expensive homes in the world.
Allen J. Schaben / Los Angeles Times via Getty Images
But the home was beset with several delays, construction challenges, and cost overruns. In 2021, it was placed into a court-ordered receivership and later put into bankruptcy.
Allen J. Schaben / Los Angeles Times via Getty Images
It listed for $295 million in January 2022, making it the most expensive home for sale in the US at the time, though it marked a sharp discount from the $500 million Niami hoped to get for the home.
Marc Angeles
When no buyers bit, the home went into bankruptcy auction. Though the top bid for the home was $126 million, the auction premium and commission fees brought the total closer to $141 million.
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The bidder? Fashion Nova’s billionaire CEO, Richard Saghian.
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Source: Business Insider
Concierge Auctions said the sale was “more than double the highest US sale at auction and nearly 50% higher than the world record.”
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Here’s a closer look at what Saghian got for his $141 million splurge:
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In the mansion’s sprawling yard, you’ll find a sculpture from Italian glass maker Simone Cenedese.
Allen J. Schaben / Los Angeles Times via Getty Images
Here’s the main entrance to the property.
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…in a two-story room that can function as either a library or office and boasts its own balcony.
Joe Bryant
