![]() ![]() Noting how few participants there were, several L.A. However, after the online auction opened Monday, only five bidders from the United States and New Zealand participated. More than three dozen prospective buyers toured the 944 Airole Way property over the last couple of months, including billionaires from the Middle East, Asia and California, The One’s listing agents have said.Ĭoncierge said its auction site drew views from 170 countries, including Australia, the United Kingdom, Germany, France and Italy - and generated some 2,800 prospects. It also was well under the California record set by venture capitalist Marc Andreessen, who purchased a Malibu estate for $177 million in October, which some speculated it might break. Although the price easily set a record for the costliest house ever sold at auction, it amounted to less than half its $295-million listing price. Saghian’s winning bid came in at $126 million, with the total cost to the buyer rising to $141 million with the 12% auction fee. The online auction, however, was a bit of a bust. The ultra-modern marble-and-glass home was designed by Orange County architect Paul McClean, who also designed Saghian’s Hollywood Hills home. It has 21 bedrooms and 42 full bathrooms. ![]() There is a sky deck with cabanas, multiple pools, a private theater, a bowling alley, a billiard room, a candy room, salon and spa as well as a nightclub. real estate community have dismissed the residence as garish, others have seen it as the ultimate trophy home - with a list of amenities aimed at the party set. billionaire Don Hankey.Īlthough some in the L.A. He initially marketed the home for $500 million several years ago but was forced to put it into bankruptcy after Crestlloyd, the home’s limited liability company, defaulted on $106 million in construction loans to L.A. The One, which already has been rented out for filming, is the magnum opus of flamboyant developer Nile Niami. In January, it agreed to pay $4.2 million to settle government allegations that it blocked negative reviews of its products on its website but called the allegations “inaccurate and deceptive.” The company, which is currently advertising a new spring collection with many articles under $30, has come under scrutiny for alleged wage theft by its suppliers, prompting it a few years ago to tighten up contracting practices. Purchasing The One would not only expand Saghian’s real estate portfolio, but could also potentially make sense as a marketing tool for Fashion Nova, serving as a backdrop where its influencers could show off the company’s affordable, of-the-moment designs.
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