Bidding to Begin on the Most Expensive House for Sale in the U.S.
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Bidding to Begin on the Most Expensive House for Sale in the U.S.

Marking the start of a four-day affair that will see an ultra-exclusive audience bid for the home.

By Liz Lucking
Wed, Mar 2, 2022 12:17pmGrey Clock 2 min

The multimillion-dollar Los Angeles megamansion known as The One, is live at auction at 7 p.m. Eastern time on Monday, marking the start of a four-day affair that will see an ultra-exclusive audience bidding for the $405 million goliath with no reserve.

The hammer will drop on the Bel Air hilltop estate just weeks after it officially hit the market in mid-January with that nine-figure price tag, though the developer of the 9755-sqm spread has previously estimated the value to be as high as $688 million.

The online auction, which runs through Thursday, is being handled by Concierge Auctions, in collaboration with real estate agents Aaron Kirman of Compass and Branden and Rayni Williams of The Beverly Hills Estates.

“The time has come for this legendary property, The One, to sell and make history,” Ms. Williams said in a statement. “And may the best bidder win.”

Developed by film producer-turned-developer Nile Niami nearly 10 years ago, The One sits on close to 4 acres surrounded by a moat on three sides and with panoramic views of the Pacific Ocean, downtown Los Angeles and the San Gabriel Mountains.

Festooned with high-end features, the 21-bedroom palace boasts five pools, a massive nightclub, a full-service beauty salon, a 10,000-square-foot sky deck, a home theatre seating more than 40 people and a 400-foot private outdoor running track with a glass-walled view of the city.

There’s also a cigar lounge, a four-lane bowling alley, putting green, a juice bar, a philanthropy pavilion, a tennis court, a 10,000-bottle wine cellar and a 30-plus car garage with two car display turntables.

In fact, its lengthy list of amenities may only be surpassed by the column inches that have been dedicated to the embattled home.

The home was engulfed in a legal battle between the lenders, including Hankey Capital and Lanes Management, and Niami-related limited liability company, Crestlloyd.

Crestlloyd LLC, which lenders accused of defaulting on loans, filed for bankruptcy in October to keep the property from foreclosing. And a Los Angeles court appointed Ted Lanes of Lanes Management as receiver, who is authorised to prepare the property for the sale, Mansion Global previously reported.

“The One is created for today’s billionaire seeking a truly unrepeatable asset, and when it sells, it will be the most significant purchase in the world,” Mr. Kirman said in a statement. “While in 2021, digital properties like NFTs grabbed headlines for monumental one-of-kind-sales, 2022 brings us back to the physical world with The One—a real estate property unmatched in size, scale, safety and triumphant design.”

If it sells for close to its listing price, it would set a record, not only for Los Angeles but for the U.S., surpassing the approx. $327 million billionaire hedge fund manager Ken Griffin paid for a New York City condo in early 2019.

Reprinted by permission of Mansion Global. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: March 1, 2022.



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A Federation-Era Sydney Home Looked Like a ‘Cold Hospital Ward’ Until an Architect Put It Under the Knife

Amrish Maharaj undid a century of hodgepodge alterations while navigating strict conservation rules

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Sat, Nov 2, 2024 6 min

Haberfield, a charming slice of suburbia in what locals call Sydney’s “inner west” region, is miles from the landmarks like the Harbour Bridge and the Opera House, and isn’t famous for multimillion-dollar waterfront mansions. What it is known for, however, is fiercely protecting its architectural identity.

After an uproar in the 1970s led by local residents—who were fed up with period homes getting unsympathetic makeovers—the National Trust created the Haberfield heritage conservation area in the mid-1980s. As a result, the suburb of approximately 6,500 people has one of Sydney’s best-kept streetscapes.The heritage designation has been a win for preserving the past, but has created challenges for architects tasked with making Haberfield’s homes more family-friendly, sustainable and sellable.

Architect Amrish Maharaj was hired by his clients, owners Ramy and Sarah Azzam of ML Constructions, to modernise a single-storey Federation dwelling—an era of Australian architecture between approximately 1890 and 1915. Although its bones dated back to the turn of the last century, the Haberfield home, coined Glencoe, had already undergone a number of objectionable changes before conservation rules had come in. The design was stuck between two time periods.

Metal balustrading and the front verandah detailing had also been amended, removing the original timber work. The architect replaced the front windows with traditional timber, and changed the front path and front fence to give a nod to what used to be.
Composite: Vikram Hingmire (After); Amrish Maharaj (Before)

“Its original roof and chimneys had been removed and replaced with a post-1943 hipped roof clad in terracotta tiles. The length of the house had been doubled with the addition of a substantial rear extension. A small skillion roof was put over the front veranda, metal balustrading and the front verandah detailing had also been amended, removing the original timber work,” Maharaj said.

“The previous work appeared to have focused on increasing the number of rooms, and not improving the spaces within,” he added. From the entry, a dark central hallway cut the house in half, splitting four bedrooms and a bathroom to the north from an additional bedroom, an enclosed lounge room, dining room and kitchen to the south.

A floor plan shows the closed-off layout of rooms connected by a central hallway.
Courtesy of Vikram Hingmire
From the entry, a dark central hallway cut the house in half, splitting four bedrooms and a bathroom to the north from an additional bedroom, an enclosed lounge room, dining room and kitchen to the south.
Composite: Vikram Hingmire (After); Amrish Maharaj (Before)

Despite the patchwork of renovations and extensions over the years, planning regulations still remained strict for the team attempting to bring the residence into the 21st century.

“We had an initial concept, which was a little more modern than the end result, but the local council wanted a more traditional construction. We had a heritage expert come and look at the house and give their recommendations,” he said. “She determined that it was probably part of a group of three or four houses that were once the same beautifully detailed Federation-era homes. But somebody had come along in the 1940s and did their own thing.”

“There was a discussion about pulling off the roof and getting it back to what it was, but it came down to a question of budget. We tried to put back as much as we could, by replacing the front windows with traditional timber, we changed the front path and front fence just to give a little nod to what used to be, without stripping the render and reconstructing the whole roof.”

Now the street appeal of the home is a better fit with its Federation neighbours. The decision was then made to pull focus from the facade while investing attention, and funds, into the rear of the house.

The owners replaced dated bathrooms with modern elements, such as Fibonacci Terrazzo tiles with underfloor heating.
Composite: Vikram Hingmire (After); Amrish Maharaj (Before)

“In keeping with what the Council was wanting, we used traditional materials and techniques in the construction of the back extension even though it does feel very modern,” Maharaj said.

As well as employing conventional methods for the external build of the large rear addition, a host of modern-day luxury finishes were used inside, where the interior design was overseen by owner Sarah Azzam.

High-traffic floors were finished with limestone tiles, Polytec joinery was used throughout, and internal walls feature a sleek white set render. Bathrooms feature Fibonacci Terrazzo tiles with underfloor heating.

A standout of the new look is the grand triangular gable crowning the rear indoor-to-outdoor living zone, a unique design feature in the neighbourhood of smaller sized blocks and heritage homes. The seamless flow to the backyard is an element that has become a must-have in modern Sydney homes thanks to the temperate climate.

The glass gable is unique design feature in the neighbourhood of smaller sized blocks and heritage homes.
Vikram Hingmire

“Our work began with the deconstructing and restructuring of the original home. Retaining four good-sized bedrooms to the front of the house, the central areas were dedicated to service spaces, with a big family bathroom, laundry, powder room and en-suite. The home then steps down to a large open-plan kitchen, dining and living room, which seamlessly connects to an al fresco dining area, garden, and a new pool and cabana,” Maharaj added.

“It’s such a Sydney thing, the seamless flow to the outdoors from the main living area. When I think about our briefs, from every single client, I’d say right at the top of everyone’s list is natural light, good ventilation and a connection to the garden,” he said. “Australians also love a north orientation.”

The Azzams, who declined to comment on the project, bought the unrenovated Haberfield house in 2020 for A$2.5 million (US$1.6 million), then sold the reimagined residence in 2023 for A$4.9 million.

“They bought it as their forever home. That large space at the back was created that way because they’ve got a big extended family,” Maharaj said. “They were often talking about Christmas dinners of 20 to 30 people, and space for a grand dining table was specifically on their list of requirements. Sarah has a great design eye and was meticulously hand selecting the finishes. But they ended up seeing another house nearby and decided to do it all again.”

Maharaj shared some more thoughts about the design and build process.

The biggest surprise was… I think we got lucky with the glass gable in the back of the house. We tried to do something similar on a house only a couple of streets away about a year later and it was completely knocked back by Council. When we pushed back to ask why, we were told it should never have been approved as is. Sometimes the approval process includes a bit of luck.

A favourite material we discovered during the process was… Of all the materials, I’d have to say that the Super White Dolomite and the limestone flooring we used were the big hits. We had quite a few potential buyers asking about these items in particular. We have received a number of calls from other homeowners in the area who are looking for a similar renovation, and even the odd call from people who have seen the home and wanted to express how much they loved it.

The most dramatic change was… When we start these jobs, we can often see that the houses have been either abandoned or people have just added and removed rooms and walls over time. So bringing that all back together was really fulfilling for me as an architect. Originally, this house felt like a cold hospital ward when you walked through it, with all these rooms coming off one corridor. Bringing it back to life and making it feel like a home with a heart is something we’re really proud of.

The total cost of the renovation… Being able to do the building himself, and their own interior design meant the pair could save some money, but they really spared no expense. It was a project that cost approximately A$1.5 million.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

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