This $500 Million Mega-Mansion Just Sold At Auction For A Discount
A Bel Air mansion dubbed "The One" recently sold at auction for $126 million, according to the New York Post — and it's not just the dollar signs that are impressive. At 105,000 square feet, Fortune describes this mega-mansion as "the biggest U.S. home to ever go up for auction." The new owner has been confirmed as Richard Saghian, the CEO of social media savvy fast fashion brand, Fashion Nova. Says Saghian of the home, "There is nothing else like it. As a lifelong Angeleno and avid collector of real estate, I recognized this as a rare opportunity that also lets me own a unique property that is destined to be a part of Los Angeles history."
It's definitely true that there are some stunning stats associated with this home. Listing agents Concierge Auctions add that in addition to the staggering square footage, this property boasts 3.8 acres (IN Bel Air) with 21 bedrooms plus 42 full and seven half bathrooms. You'll also find a 30 plus car garage with two turntable displays and sic elevators as well. If Saghain likes a roomy master suite, his mansion has one that's a total of 5,000 square feet with its own pool and seriously large closet.
The One is in Bel Air, California
"The One" is the work of architect architect Paul McClean, according to Fortune. McClean is a famed architect in Los Angeles known for sleek, modern dwellings with a strong connection to the outdoors from inside — and the new owner is reportedly a fan. Describing "The One" to Architectural Digest McClean said, "This project felt exciting and simultaneously intimidating." For this specific property the architect was wanted to "create something unique and spectacular."
Spectacular hardly describes it, as the hill-topping exterior creates a floating on water effect with three sides surrounded by an actual moat and a track for walking or jogging that's 400 feet long. The elevated location is designed to encourage 360-degree views that include downtown Los Angeles, the San Gabriel Mountains, and waters of the Pacific Ocean. Recent ordinances in the city will prevent a house of this "magnitude" from ever being built in the area again, so the moniker "The One" is truly fitting for this unique location. Don't forget the many patios, putting green, and tennis court the home has, as noted by Concierge Auctions.
But it's not just the exterior that is unique; check out the inside of this incredible property.
Inside the $500 million mega-mansion
The interiors are equally as impressive as this mega-mansion's exterior, and with the extensive windows and view-friendly architecture, it may be sometimes difficult to tell whether you are truly indoors or out. Only one of the 42 bathrooms on the property, this solo tub boasts extensive outdoor city views that make a homeowner feel like they are bathing outdoors, yet still offers a fully private walk-in shower and so much space.
Paul McClean features water and watery elements heavily throughout the design, as he shared with Architectural Digest. "Water is something we often use in our design process because it allows for a sensory change that helps you adjust to your surroundings," he explained. In addition to the many bathrooms, there are five pools, and these natural themes and flow were incorporated by developer Nile Niami and interior designer Kathryn Rotondi when the home was created with its original $340 million price tag.
When touring the residence, the design team intentionally separated the entertainment areas from the living space, so the lower level feels much like a playground for the very rich.
Lifestyles of the rich in California
There are multiple media rooms in "The One" at the Bel Air entertainment level. Concierge Auctions lists a unique bar with reflective backsplash that boasts marble countertops, as well as a smoking lounge, a movie theater that can hold 40 people, a bowling alley, and a gym with high-end fitness equipment, a juice bar, and a hair salon. There are staff quarters to house seven employees, too. Architectural Digest even reports the inclusion of a "philanthropy wing" that can hold galas for up to 200.
However, the New York Post shares that all this luxury came at a cost to the community. While impressive to look at, the extensive construction and spread of this project motivated upset neighbors to get the building code changed and prevent "The Two" from becoming a future reality. It's unclear how much new owner Richard Saghian will interact with the locals anyway, since this property is only one of multiple million-dollar residences he owns, according to Fortune. Saghian also has a $14.7 million Malibu beach house and a $17.5 million home in the Hollywood Hills.