- The Bel Air home, which will be finished in 2017, is close to those of celebrities such as Jennifer Aniston and Elon Musk
- The property has panoramic views of the LA basin and Pacific Ocean and will cover more than 100,000 square feet
- The price works out to about $5,000 per square foot, which the property’s developer Nile Niami says is a good price for what the buyer is getting
- The home will have five swimming pools, a casino, a nightclub and a lounge with jellyfish tanks replacing the walls and ceilings
- Niami, behind films including action-thriller The Patriot, hopes to double the world-record for the most expensive home ever sold
Kelly Mclaughlin For Dailymail.com
129
View
comments
A megamansion in Bel Air has been listed for a whopping $500million – but the extravagant home is worth its value, the real-estate developer claims.
Sitting on a hilltop with views of the San Gabriel Mountains, LA basin, Beverly Hills and the Pacific Ocean, the home will have five swimming pools, a casino, a nightclub with VIP access, a lounge with jellyfish tanks replacing the walls and ceilings, and many other amenities.
The home, which will be finished in 2017 and boasts neighbors including Jennifer Aniston and Elon Musk, will be more than 100,000 square feet – twice the size of the White House.
Scroll down for video
A home being built in the Bel Air neighborhood of Los Angeles, California, by real-estate developer Nile Niami is being listed for $500million. Above is a depiction of what it will look like when finished
The 100,000-square-foot home, which is still being built (pictured) is close to several celebrities’ houses
The price works out to about $5,000 per square foot, which Hollywood producer-turned-developer 47-year-old Nile Niami notes is less than half of what some billionaires pay for Manhattan penthouses.
Niami, pictured in 2013, said the property will be worth the cost
‘We have a very specific client in mind,’ Niami told Details magazine. ‘Someone who already has a $100million yacht and seven houses all over the world, in London and Dubai and whatever.
‘To be able to say that the biggest, most expensive house in the world is here, that will really be good for LA.’
Niami, behind films including action-thriller The Patriot, hopes to double the world-record for the most expensive home ever sold with the $500million asking price.
He grew unpopular with neighbors last fall, when he sliced off the top of a hill to create panoramic vistas on his four-acre lot.
For weeks, dump trucks filled the neighborhood’s narrow streets as they removed about 40,000 cubic yards of dirt from the property.
Drew Fenton, the real-estate broker listing the property, said that the home is important to Los Angeles.
‘It is by far the most important estate project in Los Angeles over the last 25 years and will raise the bar for all other estates built in the city,’ he told Details.
The home will have several features that most residential properties don’t, including a two-story waterfall, temperature-controlled room for storing fresh flowers, a cigar lounge and an indoor-outdoor dance floor.
It also will have a 30-car garage, 40-seat screening room and a 6,000-square-foot master suite.
Sitting on a hilltop with views of the San Gabriel Mountains, LA basin, Beverly Hills and the Pacific Ocean, the home will have five swimming pools, a casino, a nightclub with VIP access, a lounge with jellyfish tanks replacing the walls and ceilings, and many other amenities
The price works out to about $5,000 per square foot, which Hollywood producer-turned-developer Niami notes is less than half of what some billionaires pay for Manhattan penthouses.
But when inside the master suite, ‘it doesn’t look that big, because everything else is so big’, Niami said.
It will have three smaller homes, four swimming pools including a 180ft long infinity pool and a 20,000-square-foot artificial lawn to comply with California’s drought-induced water restrictions.
A glass-walled, high-ceiling library will take part of the first floor, but Niami said not to expect to find books in the room.
‘Nobody really reads books,’ he said. ‘So I’m just going to fill the shelves with white books, for looks.’
Niami sells his homes fully furnished and decorated to the buyers’ tastes.
The property’s chief architect, Paul McClean, told Details that listing prices are not often the reality.
Drew Fenton, the real-estate broker listing the property, said that the home is important to Los Angeles in that it will ‘raise the bar for all other estates built in the city’
‘The numbers right now are crazy, no matter how you look at them,’ he said. ‘But for most people who buy these kinds of houses, it’s not a decision that they calculate based on price per square foot.
‘It’s more about the emotional draw. With Nile, we’re trying to sell a lifestyle, a sense of how people imagine they would live.’
Niami said he does not know who sold him the Bel Air plot – the secret transaction took place through a bank trust where the owner remained anonymous.
The real-estate developer declined to say how much he paid for the property, which originally included a decrepit home that has since been torn down.
As for who he’d like to live in his soon-to-be megamansion: ‘It doesn’t make a difference as long as they pay the money.’
The home will have several features that most residential properties don’t, including a two-story waterfall, temperature-controlled room for storing fresh flowers, a cigar lounge and an indoor-outdoor dance floor. This image gives an idea of what it will look like when finished
Share or comment on this article
-
Explosion heard during international match Stade de France
-
Terror attack victims flee the Bataclan theatre in Paris
-
French special forces storm Bataclan to free hostages
-
Inside Gatwick Airport terminal moments before evacuation
-
Does Ruth Langsford insult Eamonn with a VERY rude word?
-
Gatwick Airport evacuation leaves passengers outside
-
Defiant French fans sing national anthem after attacks
-
Bandmate’s girlfriend at Bataclan may have filmed killer
-
Players and crowd at Stade de France shocked by explosion
-
Gunfire heard in Paris as deadly attacks hit French capital
-
Aftermath of Explosion at Stade de France
-
Aftermath of Paris shooting caught on camera by bystander
-
Frenchman arrested at Gatwick threw a gun into a bin as he…
-
‘We fell to the floor and crawled over bodies’: British…
-
Is this the ISIS killer stalking the Bataclan venue before…
-
Hunt for Paris attack accomplices continues after reports…
-
KATIE HOPKINS: Is Britain just going to sit and wait for its…
-
The moment French president was told ‘The country is under…
-
Pray for Paris: David Beckham, Kim Kardashian and Harry…
-
Jihadis sneaked into Europe as fake Syrian refugees:…
-
Fire rips through Calais’s notorious ‘Jungle’ migrant camp…
-
‘This attack is just the start’: ISIS claims responsibility…
-
‘I’m so ashamed’: Homeless mother and daughter living in a…
-
See the pictures of Prince Charles in bright yellow swimming…
Comments (131)
Share what you think
-
Newest -
Oldest -
Best rated -
Worst rated
The comments below have not been moderated.
The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline.
Who is this week’s top commenter?
Find out now