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 References

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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.

Advertisem*nt

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.

Advertisem*nt

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.

Keep Reading ›

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

Richard Saghian, owner of the fast-fashion business Fashion Nova, has emerged as the winning bidder of the Los Angeles mansion known as “The One.”

Explore More ›

Who owns the 105 000 square-foot house? ›

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.

Find Out More ›

Who owns the 295 million dollar house in California? ›

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.

Get More Info ›

Who owns the $300 million dollar house in LA? ›

The '03 Bonnie and Clyde are making power moves. Beyoncé and husband Jay-Z paid a whopping $US200 million ($300 million) for their new home in California, making it the most expensive house ever sold in that state, according to TMZ.

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Who owns the $250 million dollar house in LA? ›

Casa Encantada's current owners, financier Gary Winnick and his wife, children's author and artist Karen Winnick, purchased the abode for $94 million in 2000.

Get More Info ›

Who owns LA most expensive house? ›

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.

View Details ›

Who owns the richest house in California? ›

The exterior of the home. Beyoncé Knowles and Jay-Z are known for breaking records, and now, they've broken the record for purchasing the most expensive home in California's history. Knowles and Jay-Z, who's real name is Shawn Carter, purchased a sprawling $200 million Malibu, California estate.

Find Out More ›

Who is the owner of the most expensive house in LA? ›

Tell Me More ›

Who owns the biggest house in 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.

Get More Info Here ›

Who owns the world's biggest house? ›

Who is the owner of the biggest house in the world ? Istana Nurul Iman Palace, the official residence of the Sultan of Brunei, Hassanal Bolkiah, is the largest house in the world, spread over 2.15 million square feet.

Learn More Now ›

Who owns the expensive house in the world? ›

Beyonce and Jay Z's Home

In 2023, the power couple secured California's most expensive mansion at a whopping $295 million. Overlooking the Malibu coastline, the property is approximately 30,000 square feet and was designed by award-winning Japanese architect Tadao Ando.

See Details ›

Who lives at 10644 Bellagio Rd Los Angeles? ›

The widow of late billionaire financier Gary Winnick has slashed $55 million off the price of a 60-room Bel-Air mansion. The revised asking price is $195 million. Artist and author Karen Winnick has relisted the historic Casa Encantada estate at 10644 Bellagio Road, according to the Robb Report.

Read On ›

Who owns the most properties in Los Angeles? ›

The No. 1 multifamily owner in L.A. County is Equity Residential, based in Chicago, with 13,027 units.

See Details ›

Who bought U.S. most expensive house? ›

Financier Ken Griffin's purchase of $240 million penthouse on Billionaire's Row in Manhattan currently holds the title.

Learn More ›

Who owns the house called The One in Los Angeles? ›

Richard Saghian, owner of fast-fashion juggernaut Fashion Nova, was the winning bidder who spent $141 million to buy “The One” mega-mansion, he confirmed to The Times.

Explore More ›

Who owns The One mansion in Los Angeles? ›

Keeping “The One” cool is an even more expensive endeavor than you'd expect. 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.

Read On ›

Who has the biggest mansion in LA? ›

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.

Find Out More ›

What is the $295 million mansion in Los Angeles? ›

Before the infamous mansion known as “The One” could be listed for sale its developer defaulted on a reported $180 million in lending. Today the Bel Air mansion finally emerges from bankruptcy court proceedings with a $295M price-tag and a date for auction in early February. CNBC's Robert Frank gives you a look inside.

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