Ekidz one in a million zip
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Late last year, he put the property into bankruptcy.Īll his homes boast otherworldly amenities - champagne vaults, animal skeletons, for instance - but in terms of raw ambition, the One takes the cake. In 2019, Niami tried to sell a West Hollywood home with a glass-bottomed pool and cryogenic chamber for $55 million but couldn’t find a buyer. Englanoff took control of the property, rebranded it and sold it for $47 million later that year. The buyer turned out to be Joseph Englanoff, one of Niami’s lenders for the project. After listing an over-the-top Beverly Hills home dubbed “Opus” for $100 million, he sold it last year for $38.3 million. Profitable sales have been hard to come by for Niami lately. In some spots, the share was even bigger. In March, slightly more than half of homes sold for over the asking price across Los Angeles. If you’re house shopping in L.A.’s hot market, prepare to pay way more than the price tag
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“We hope our actions will kick off the official listing.” “We felt the owner of ‘The One’ was distracted from the job at hand, which is to bring the biggest and best house in the United States to market for sale,” said Don Hankey, chairman of Hankey Investment Co. Listing agents Rayni and Branden Williams of Williams & Williams at the Beverly Hills Estates and Aaron Kirman of the Aaron Kirman Group at Compass could not be reached for comment. If Niami can’t repay the loan in 90 days, Hankey could force a sale of the home. Over the last three years, that debt has ballooned to more than $110 million, and Hankey wants its money.Īccording to a document obtained by The Times, the lender just served Niami a notice of default on the prized property, which is considered the first step in the foreclosure process.
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Niami, known for his brazen personality and wildly ambitious real estate projects, borrowed $82.5 million from Hankey Capital in 2018 to build the extravagant home. For years, spec developer Nile Niami has teased “The One” - a 100,000-square-foot mega-mansion in Bel-Air that he hoped to sell for $500 million.