The One is a 105,000-square-foot mega-mansion in Bel-Air developed by Nile Niami. It was listed for $295 million before a bankruptcy auction, where the reported bid was $126 million. The Los Angeles Times said a 12% auction fee brought the total to about $141 million; a bankruptcy judge later approved Fashion Nova founder Richard Saghian’s $141 million offer. Those figures describe different parts of the sale, not competing estimates of one price.
What is The One?
The One is an exceptionally large private residence in Bel-Air, Los Angeles, developed by real-estate developer Nile Niami. The Los Angeles Times described the property as 105,000 square feet. That reported figure conveys its scale, but it should not be mistaken for an independent measurement or a description of its present condition.
Its story is defined by the gap between ambitious marketing and the eventual bankruptcy-auction outcome: the property had been listed at $295 million before the sale, a figure distinct from both the auction bid and the fee-inclusive total.
Who bought it, and what did the sale price mean?
Fashion Nova founder Richard Saghian was the winning buyer. The Los Angeles Times reported on March 3, 2022, that the auction bid was $126 million and that a 12% auction fee brought the total to about $141 million. On March 21, 2022, the paper reported that a bankruptcy judge approved Saghian’s $141 million offer.
In other words, $126 million refers to the reported bid, while roughly $141 million includes the buyer fee and is also the amount later described as the court-approved offer. The $295 million figure was the pre-auction listing price, not the completed auction result. Saghian described the property as “a once-in-a-lifetime property that can never be duplicated,” according to the Los Angeles Times’ March 6, 2022 report.
What made the mansion notable?
Reports described a collection of amenities designed for a private resort-scale experience, including:
- A nightclub and several swimming pools
- A 50-seat theater
- A four-lane bowling alley
- A sky deck and putting green
A separate Los Angeles Times report described 21 bedrooms and 42 full bathrooms. These are reported features and room counts, not findings from a physical inspection.
What does “most expensive” mean in this case?
The Los Angeles Times characterized the auction as a record for the costliest house sold at auction. That is a narrower claim than saying The One was the most expensive home by every measure. The same March 3, 2022 report said the result fell short of the then California home-sale record and the then U.S. residential-price record it cited. Those comparisons describe the rankings reported at that time; they should not be read as current market rankings.
Rank #3
Comparisons also depend on what a price includes. An asking price is not a completed sale, an auction bid is not necessarily the buyer’s fee-inclusive cost, and an auction record is not the same category as an overall residential-sale record. The One’s reported scale, amenities, and pre-auction concerns are relevant context, but the available reporting does not establish a like-for-like valuation against other trophy properties.
What concerns were reported before the auction?
Pre-auction coverage raised concerns about the lack of an occupancy permit and reported allegations of possible construction defects and zoning-code violations. These were reported issues or allegations, not proof that a violation was finally established. They relate to the property as discussed before the 2022 auction and do not establish whether any concern was later resolved or remains today.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What is known about its current ownership and condition?
The cited 2022 reporting identifies Saghian as the winning buyer and reports the judge-approved offer. It does not establish the property’s current ownership, occupancy, renovation status, or present condition. Those details should not be inferred from the auction coverage alone.
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