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Los Angeles megamansion becomes most expensive property in U.S.

Jan. 7 (UPI) -- A 105,000-square-foot Los Angeles megamansion officially became the most expensive property in the United States when it was listed Friday for $295 million.

The Bel Air home, known as "The One," was listed Friday by Branden Williams of The Beverly Hills Estates and Aaron Kirman of Aaron Kirman Group at Compass.

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The home was built by developer Nile Niami with a stated goal of creating the most expensive home in the country, with an eventual asking price of $500 million.

Niami's debt on "The One" grew to more than $180 million, and in 2021 it was placed into receivership. A bankruptcy agreement struck in December will see the house go to auction if it does not sell by Feb. 7,

Williams said he has already received offers from a Saudi royal and a wealthy Chinese buyer. He said he expects further offers from cryptocurrency buyers looking for investments.

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