- Nile Niami is building a 100,000 square foot megamansion on a hill in Bel Aire.
- The property, at 944 Airole Way, does not yet have a buyer, and will be completed in 2017.
- Niami thinks the home will sell for a record-shattering $500 million.
For a mere $500 million, an opulent, 100,000-square-foot mansion in Bel Air will feature amenities that seemingly combine a home with a luxury hotel and every high-end entertainment venue rolled into one. The four-acre property, located at 944 Airole Way, also features 360-degree, sweeping views, yet offers incredible privacy.
This ultimate pocket listing is the work of builder Nile Niami. Even though Niami has no eager buyer patiently waiting until the house is done in 2017, he has a clear picture of the type of buyer who would seek out this elaborate home. Wealthy. Foreign-born. Lover of warm, sunny weather.
Niami is known for opulent domiciles. He loves privacy, yet sweeping views: this property will allow the owner to peer out at the ocean, as well as the San Gabriel Mountains. This home will truly look down at everything around it, including downtown LA, Beverly Hills and the San Francisco Valley.
Niami loves water and glass inside, as well. This home will contain five swimming pools, a two-story waterfall, a casino, a nightclub with a VIP area and outdoor seating. A library will feature a double-height ceiling and glass walls on three sides, and fresh flowers will have their own climate-controlled room.
The master suite will cover 6,000 square feet, a multiple of the size of more pedestrian homes in just one room. If all that excess becomes boring, the owner can invite a crowd to the 40-seat screening room to take in a movie.
At half a billion bucks for 100,000 square feet, the manse comes out to $5,000-per-square-foot. The income bracket that Niami seeks to buy this property, though, won’t concern themselves with such pedestrian concerns as that, or qualifying for a mortgage. Or so many other things that the average buyer considers.
In fact, the upscale market clamors for more amenities, more space and more of just about anything else. On this property, for example, Niami went so far as to cut off and truck away part of the top of a hill to better the view for his potential buyer.
A special home has to have very special marketing. Drew Fenton, the agent on this deal of a lifetime, is marketing the home with its own video. The home has been dubbed “The One” and can proudly claim the title of the largest home being built this century.
Estimating Fenton’s commission on this property using standard percentages, he stands to make what Niami sold entire homes for when the two first started working together on mega homes less than 10 years ago.