America’s “most expensive” house just sold – well, at least when you rank it based on the initial asking price. It was once listed for $500 million. After failing to sell it was listed for $295 million which would have priced it above the previous record of $238 million that hedge fund billionaire Ken Griffin paid for a Manhattan penthouse in 2019. However, “The One” was ultimately sold to the founder of Fashion Nova, Richard Saghian, for $141 million.
Called “The One”, the 105,000 square feet mansion features 360-degree views of the Pacific Ocean, Downtown LA and the San Gabriel Mountains. It has five swimming pools, a 30-car garage and a bowling alley. Other features include a 4,000 square feet guest house, a philanthropy wing for charity events, a running track, a movie theatre and a nightclub. There are 5 swimming pools and 49 bathrooms.
The house is still unfinished so the new owner will likely need to spend millions of dollars and many months before it is completed. That is despite the fact that the previous developer already ran into cost overruns and ultimately had to file for Chapter 11 bankruptcy protection.
Judge for yourself but based on the pictures and plans this house certainly appears to be a unique investment opportunity. Each room is meticulously decorated and the mansion fits in perfectly into the stunning LA landscape. We will follow the story to see how it looks once construction is finished.
All images courtesy of ConciergeAuctions
