L.A. Developer Building Record-Setting $500M Home, on Spec

Find out what a whole lotta money can buy you in Bel Air.

L.A. Developer Building Record-Setting $500M Home, on Spec Photo (cc) by Ken Lund

Have you ever wondered much a brand new, 100,000-square-foot, 30-car-garage home in Los Angeles would cost you?

Well, wonder no more. Nile Niami, a film producer and residential developer who is building the aforementioned spec house, is planning to ask $500 million for it, Bloomberg Business reports.

The house is still under construction, so you have 20 months to save for this property, Business Insider noted.

So, what do you get in a home for $500 million besides 100,000 square feet of living space? Bloomberg said the extra amenities are substantial, including: 8,500-square-foot nightclub, Monaco-style casino, movie theater, bowling alley, tennis court, four pools, a 5,000-square-foot master bedroom, jellyfish tanks that cover three walls and a ceiling, and a guesthouse.


“The house will have almost every amenity available in the world,” Niami said in an email.

Sounds like a pretty accurate statement.

The mansion is being built on a 4-acre hilltop lot in Bel Air that offers 360-degree views of the Pacific Ocean, Beverly Hills, downtown L.A. and the San Fernando Valley.

“It’s a jaw-dropping property,” Billy Rose, president of Beverly Hills-based brokerage Agency, said in an interview with Bloomberg. He isn’t affiliated with Niami. “What he’s looking to build will be the everything house on the premier site in L.A.”

Assuming the mega-mansion does go on sale for $500 million, it will be the most expensive home on the international real estate market, BI said.

What do think about Niami’s gamble? Share your comments below.

Krystal Steinmetz
Krystal Steinmetz
A former television and radio reporter, I stay at home with my two young children, run a small craft business and freelance for Money Talks News. I have a BA in journalism ... More


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