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.

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.