L.A.’s most extravagant mansion sells for less than half its list price

Beverly Hills, CA - September 08: An aerial view of "The One Bel Air", a 105,000-square-foot mansion with a sky deck and putting green, night club, several swimming pools, a 50-seat theater, a four-lane bowling alley and more by Nile Niami of Skyline Development and designed by Paul McClean (McClean Design). The One is shown by court-appointed receiver Ted Lanes, who now controls the property and is in charge of finding a buyer and paying off the lenders and other creditors, gives a tour of The One, the 105,000 square foot house on sale in Bel Air. This is apparently the largest home for sale in the United States. The developer Nial Niami "listed" it for $500 million but got into financial trouble and was foreclosed upon by Don Hankey. Photo taken in Bel Air on Wednesday, Sept. 8, 2021 in Beverly Hills, CA. (Allen J. Schaben / Los Angeles Times)

After years of construction, a foreclosure and a bankruptcy, the Bel-Air mega-mansion known as ‘The One’ has been sold. (Allen J. Schaben / Los Angeles Times)

The mega-mansion known as “The One” sold Thursday for $126 million at a bankruptcy auction. That’s a huge discount from its $295-million listing price, even with a 12% auction fee bringing the total to about $141 million.

The Bel-Air property set a record for the costliest house sold at auction, but it fell well short of the California…


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