See inside the biggest modern home in the US, a 105,000-square-foot megamansion in Los Angeles that sold for $126 million to Fashion Nova's billionaire CEO (2024)

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Behold: A sprawling Los Angeles megamansion believed to be the biggest modern home in the US. The property is known as The One Bel Air, and it fetched $126 million at auction in 2022. It was listed on Sotheby's Concierge Auctions from February 28 to March 3, 2022. The auction site called the 105,000-square-foot home "America's most expensive and largest residence." The property, which was 10 years in the making, came from film producer-turned-real estate developer Nile Niami. Niami initially hoped to sell it for a whopping $500 million, which would have made it one of the most expensive homes in the world. But the home was beset with several delays, construction challenges, and cost overruns. In 2021, it was placed into a court-ordered receivership and later put into bankruptcy. It listed for $295 million in January 2022, making it the most expensive home for sale in the US at the time, though the price was a sharp discount from the $500 million Niami hoped to get for the home. When no buyers bit, the home went into bankruptcy auction. Though the top bid for the home was $126 million, the auction premium and commission fees brought the total closer to $141 million. The bidder? Fashion Nova's billionaire CEO, Richard Saghian. Sotheby's Concierge Auctions said the sale was "more than double the highest US sale at auction and nearly 50% higher than the world record." Here's a closer look at what Saghian got for his $141 million splurge: As you approach the property, you'll find a sculpture from Italian glassmaker Simone Cenedese in the mansion's sprawling yard. Here's the main entrance to the property. Inside, the mansion's foyer has a rotating sculpture and floor-to-ceiling windows, which make for a pretty great view at day ... ... or night. The One boasts 21 bedrooms, 42 bathrooms, and seven half-bathrooms. Like the foyer, many rooms have expansive views of Los Angeles, like this one... ...and this one. You'll find a 10,000-bottle wine cellar in the dining room. There's plenty of space to lounge around in the family living room. There are several rooms devoted to R&R. For some pampering, there's a full-service beauty salon and wellness spa. The salon is one of the more vibrantly colored rooms in the mansion, with glossy red walls. There's an entertainment room for activities like playing billiards. The mansion also boasts its own bar and cigar lounge. Here's the bar up close. In the next room over, there's a private bowling alley. It has four lanes, several shelves of bowling shoes at the ready, and bowling balls oddly evocative of Trix cereal. There's also a private nightclub on the premises... ...as well as a private movie theater. The One's 4,000-square-foot master bedroom has a walk-in closet with plenty of space for clothes, shoes, and accessories. Saghian has room for plenty of books... ...in a two-story room that can function as either a library or office and boasts its own balcony. The literal candy bar is a child's paradise. Five swimming pools dot the property. There are a few outdoors, one of which is on the roof of a 4,000-square-foot bedroom... ...while the other is above the private nightclub. Another pool functions as a floating lounge. Inside, there's a pool in a room with a living wall and a mirror on the ceiling. It's located near an exercise room... ...and a juice bar. Though the home was built in the last decade, it has taken a cue from the construction of centuries past, with a moat surrounding three sides of the property. Visitors to the mansion can have the guesthouse to themselves. The guesthouse also has floor-to-ceiling windows... ...and three bedrooms of its own. Outside again, the mansion has its own glass-walled jogging court, tennis court, and this putting green. The home's other features include a 30-car garage, six elevators, and of course, close proximity to Rodeo Drive, Beverly Hills, and downtown Los Angeles. Less than a year after buying The One, Saghian scooped up another pricey property in California. FAQs

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Real Estate

Sarah Jackson

Updated

2024-01-24T10:05:02Z

See inside the biggest modern home in the US, a 105,000-square-foot megamansion in Los Angeles that sold for $126 million to Fashion Nova's billionaire CEO (1)

The One Bel Air is a 105,000-square-foot megamansion said to be the biggest modern home in the US.
In 2022, it sold for $141 million, including fees and commission, far from the $500 million its developer once hoped to fetch.
Take a look at the home, which boasts 21 beds, 42 baths, a 10,000-square-foot sky deck, and more.

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You may have heard of fast fashion company Fashion Nova before, but did you know its billionaire chief executive is the owner of the biggest modern home in the US?

Fashion Nova founder and CEO Richard Saghian bought The One Bel Air, a 105,000-square-foot megamansion in Los Angeles, in 2022 for $126 million. With fees and commission, his total price came out to about $141 million.

The property hit a few snags on the road to its big-ticket sale. The developer originally wanted to get $500 million for the home. There were also construction delays and challenges, as well as enormous debts, associated with building the huge property.

The home was at one point put in a court-ordered receivership, and later bankruptcy, before Saghian bought it at bankruptcy auction.

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Here's a closer look at what he got for his $141 million purchase:

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Behold: A sprawling Los Angeles megamansion believed to be the biggest modern home in the US.

The property is known as The One Bel Air, and it fetched $126 million at auction in 2022.

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It was listed on Sotheby's Concierge Auctions from February 28 to March 3, 2022.

The auction site called the 105,000-square-foot home "America's most expensive and largest residence."

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The property, which was 10 years in the making, came from film producer-turned-real estate developer Nile Niami.

Niami initially hoped to sell it for a whopping $500 million, which would have made it one of the most expensive homes in the world.

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But the home was beset with several delays, construction challenges, and cost overruns. In 2021, it was placed into a court-ordered receivership and later put into bankruptcy.

It listed for $295 million in January 2022, making it the most expensive home for sale in the US at the time, though the price was a sharp discount from the $500 million Niami hoped to get for the home.

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When no buyers bit, the home went into bankruptcy auction. Though the top bid for the home was $126 million, the auction premium and commission fees brought the total closer to $141 million.

The bidder? Fashion Nova's billionaire CEO, Richard Saghian.

Source: Business Insider

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Sotheby's Concierge Auctions said the sale was "more than double the highest US sale at auction and nearly 50% higher than the world record."

Here's a closer look at what Saghian got for his $141 million splurge:

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As you approach the property, you'll find a sculpture from Italian glassmaker Simone Cenedese in the mansion's sprawling yard.

Here's the main entrance to the property.

Advertisem*nt

Inside, the mansion's foyer has a rotating sculpture and floor-to-ceiling windows, which make for a pretty great view at day ...

... or night.

Advertisem*nt

The One boasts 21 bedrooms, 42 bathrooms, and seven half-bathrooms.

Like the foyer, many rooms have expansive views of Los Angeles, like this one...

Advertisem*nt

...and this one.

You'll find a 10,000-bottle wine cellar in the dining room.

Advertisem*nt

There's plenty of space to lounge around in the family living room.

There are several rooms devoted to R&R.

Advertisem*nt

For some pampering, there's a full-service beauty salon and wellness spa.

The salon is one of the more vibrantly colored rooms in the mansion, with glossy red walls.

Advertisem*nt

There's an entertainment room for activities like playing billiards.

The mansion also boasts its own bar and cigar lounge.

Advertisem*nt

Here's the bar up close.

In the next room over, there's a private bowling alley.

Advertisem*nt

It has four lanes, several shelves of bowling shoes at the ready, and bowling balls oddly evocative of Trix cereal.

There's also a private nightclub on the premises...

Advertisem*nt

...as well as a private movie theater.

The One's 4,000-square-foot master bedroom has a walk-in closet with plenty of space for clothes, shoes, and accessories.

Advertisem*nt

Saghian has room for plenty of books...

...in a two-story room that can function as either a library or office and boasts its own balcony.

Advertisem*nt

The literal candy bar is a child's paradise.

Five swimming pools dot the property.

Advertisem*nt

There are a few outdoors, one of which is on the roof of a 4,000-square-foot bedroom...

...while the other is above the private nightclub.

Advertisem*nt

Another pool functions as a floating lounge.

Inside, there's a pool in a room with a living wall and a mirror on the ceiling.

Advertisem*nt

It's located near an exercise room...

...and a juice bar.

Advertisem*nt

Though the home was built in the last decade, it has taken a cue from the construction of centuries past, with a moat surrounding three sides of the property.

Visitors to the mansion can have the guesthouse to themselves.

Advertisem*nt

The guesthouse also has floor-to-ceiling windows...

...and three bedrooms of its own.

Advertisem*nt

Outside again, the mansion has its own glass-walled jogging court, tennis court, and this putting green.

The home's other features include a 30-car garage, six elevators, and of course, close proximity to Rodeo Drive, Beverly Hills, and downtown Los Angeles.

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Less than a year after buying The One, Saghian scooped up another pricey property in California.

He paid $40 million in an all-cash deal for a 6,000-square-foot beachfront home in an exclusive Malibu area known as "Billionaire's Beach," The Real Deal reported in January 2023.

FAQs

What is the 105000 square-foot Los Angeles Megamansion known as the one? ›

The One is a private residence designed with modernist architecture. The property is a total of 105,000 square feet (9,800 m²), including a 74,000-square-foot (6,900 m²) main residence and three smaller guest houses. The One has 21 bedrooms and 42 bathrooms, with a 5,500-square-foot (510 m²) primary suite.

Read On ›

Who owns the largest house in Los Angeles? ›

You may have heard of fast fashion company Fashion Nova before, but did you know its billionaire chief executive is the owner of the biggest modern home in the US? Fashion Nova founder and CEO Richard Saghian bought The One Bel Air, a 105,000-square-foot megamansion in Los Angeles, in 2022 for $126 million.

Discover More Details ›

Who bought the $500 million dollar house in LA? ›

The buyer of the Bel-Air mega mansion dubbed 'The One' has been revealed to be none other than Fashion Nova CEO Richard Saghian days after the estate sold well below its asking price at auction.

Who owns the biggest house in the USA? ›

A Marvel of Elegance and Charm

Experience America's Largest Home®, as magnificent today as it was more than a century ago. Your self-guided house visit spans three floors and the basem*nt of the luxurious family home of George and Edith Vanderbilt.

See Details ›

Who lives in The One house in LA? ›

Earlier this year, Richard Saghian, owner of the fast-fashion business Fashion Nova, bought the Los Angeles mansion known as “The One” for $141 million. The One was one of the biggest U.S. homes to ever go up for auction.

Find Out More ›

Has The One house in LA been sold? ›

The One sold for US$141 million, according to Concierge Auctions, which offered the sale of the home online. The buyer is Richard Saghian, the CEO of fast-fashion company Fashion Nova, according to media reports.

Tell Me More ›

What house did Jeff Bezos buy in LA? ›

In February 2020, Jeff Bezos bought the Warner estate in Beverly Hills for $165 million. The estate features a 13,600-square-foot mansion, two guesthouses, a pool, and a tennis court.

Show Me More ›

Who owns the $88 million Bel Air mansion? ›

Barcelo later returned to Instagram to share a photo of the home's reflection pool, one of the few design details known about the property. The Malibu mansion is far from Beyoncé and Jay-Z's first foray into pricey home buying, however. The power couple purchased a Bel-Air mansion for $88 million back in 2017.

Explore More ›

Who owns a 70 million dollar home? ›

Billionaire Laurene Powell Jobs, widow of Apple visionary Steve Jobs, has paid around $70 million for a San Francisco mansion, setting a record for the California city, according to people familiar with the transaction.

Which celebrity has the biggest mansion? ›

Bill Gates. It took seven years and $63 million to build Bill Gates' 66,000-square-foot Medina, Washington, estate, named Xanadu 2.0. Now, it's estimated to be worth more than $130 million. The mansion property boasts some pretty cool features, like a 60-foot pool, a towering trampoline, and sand imported from St.

Show Me More ›

What is the largest privately owned mansion in the US? ›

Biltmore House (or Biltmore Mansion), the main residence, is a Châteauesque-style mansion built for George Washington Vanderbilt II between 1889 and 1895 and is the largest privately owned house in the United States, at 178,926 sq ft (16,622.8 m²) of floor space and 135,280 sq ft (12,568 m²) of living area.

Read The Full Story ›

Who owns the largest private property in the US? ›

The nation's largest private landowners are the Emmerson family in California who own over 2.4 million acres. The bulk of that land is dedicated to timber in Northern California. But the most headline-worthy transaction of 2022 was the Four Sixes Ranch in Texas.

See Details ›

Is Los Angeles a megacity or metacity? ›

List of megacities

Megacity	Country	Estimated population
Megacity	Country	Citypopulation.de (2024)
Los Angeles	United States	17,200,000
Luanda	Angola	9,350,000
Metro Manila	Philippines	27,200,000

46 more rows

Get More Info Here ›

How many square feet are most mansions? ›

In the U.S., most real estate specialists consider a home to be a mansion at or above 8,000 square feet in size. Historically speaking, a mansion would be a home of about 5,000 square feet or above. While a mansion's size matters, the kinds of amenities and features remain equally important.

Who built The One house in California? ›

Niami began construction on a mega-mansion in Bel-Air named "The One" in 2014, which was also designed by Paul McClean. After years of development and numerous delays, Niami's company went bankrupt in 2021 before construction was completed.