A home billed as the “biggest and most expensive in the urban world” is going to be hitting the market at a steep discount. “The One,” a 105,000-square-foot…
(Newser) – A home billed as the “biggest and most expensive in the urban world” is going to be hitting the market at a steep discount. “The One,” a 105,000-square-foot megamansion in Los Angeles’ Bel Air neighborhood, was expected to go on sale for $500 million years ago, but the project from high-end developer Nile Niami hit numerous delays, CNN reports. Niami has now defaulted on more than $165 million in loans and debt and the home has been placed in court-ordered receivership, an alternative to foreclosure, according to court documents.
