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The Story of Nile Niami: The Man Behind the $500 Million Dollar House

Jun 07, 2021
It is the most expensive property in the United States and you would have to be very rich to buy the largest and most expensive

house

ever listed in this country, guys, my name is Nyla, I am the one and seven years ago I had the idea to create the most expensive property big. the most expensive

house

in the urban world get ready to see something no one has seen before get ready to see the only belair los angeles is home to some of the most famous hollywood stars in the world excellent year-round weather and many of the biggest stars World Famous Expensive Homes In recent years there has been a rise in what are known as specific mega-mansions.
the story of nile niami the man behind the 500 million dollar house
A small number of ambitious developers have gone ahead to build some of the largest and most expensive homes not only in Los Angeles but around the world. Many of these developers have spent tens of

million

s of

dollar

s from the beginning building these over-the-top mega-mansions in the hopes of finding a buyer upon completion and after eight years of design and development, a mega-mansion known as this one has been included on the list. as the world's most expensive home, hitting the market for $500

million

, it's nearly five times higher than Los Angeles' current record. It was created by Niall Niamey, a well-known real estate developer who was often referred to as the mega mansion king of Los Angeles so who exactly is Nile Miami?
the story of nile niami the man behind the 500 million dollar house

More Interesting Facts About,

the story of nile niami the man behind the 500 million dollar house...

Niall was born in Los Angeles, California and grew up very poor. He initially set out to make it in the world of Hollywood, climbing the corporate ladder and eventually launching his own film production company. In the late '90s, Nile would produce many B-movies, including Terminal Force Point Blank and The Patriot, as his career as a producer grew. Niall became increasingly involved in real estate, selling cheap houses in the suburbs of Los Angeles. Over the next 10 years, Nile Miami worked his way up to selling more and more expensive homes and in 2012 he was able to sell a home to the Winklevoss twins for $18 million.
the story of nile niami the man behind the 500 million dollar house
From there, the deals only continued to grow in 2014, he sold a custom home. -built a mansion for p diddy for $39 million and in 2017 he sold a mansion in beverly hills to floyd mayweather for $26 million. It was these deals, among others, that led Nile Miami to try something no one had done before Nile tried to build. The most expensive home in the world in total, the Bel Air mega-mansion is over one hundred thousand square feet and appears as if it were floating above the city. In addition to the striking exterior design, it has 42 bathrooms, 21 bedrooms, and 10,000 bottles of wine. a basement a garage with capacity for 50 cars a cinema room with capacity for 50 people a four-lane bowling alley a VIP nightclub an outdoor running track and five swimming pools and this is not even a scratch on the surface of the house It has a smoking lounge multiple art galleries a 4,000 square meter area guest house tennis courts a spacious master bedroom and even an anatomically correct giraffe skeleton when it comes to one, it's safe to say it's like nothing ever built Before, while the one that has taken years to develop and is only now finally complete Niles planned to fall was originally in jeopardy, the house was scheduled to be completed three years ago, however, the house has faced many financial and construction delays to build the One Nile.
the story of nile niami the man behind the 500 million dollar house
It borrowed $82 million from Hanky ​​Capital in 2018 and over the past three years that debt has increased. At over $110 million, the problem Nile faces now is that Hanky ​​Capital wants his money according to the Los Angeles Times. Hanki Capital served Nile Miami with a notice of default on the property, which is often the first step in the foreclosure process if Niall is unable to. sell the house within 90 days, hankey could seize the house and force a sale, alternatively two ways Miami could avoid this forced sale would be if it could find a way to pay off the loan or reach an alternative agreement with hanki capital .
This is not the first time default notices have been made in the high-risk mega-mansion industry. Just two years ago, the owners of the famous mountain in Beverly Hills, a 157-acre lot often considered the best undeveloped land in the city, faced a foreclosure sale due to $200 million in unpaid loans, the land It was later auctioned, since for Miami itself this is not the first time it has received default notices in 2020, it received one for a debt of 10 million that it owed on a property in Hollywood Hills and won for 23.4 million debt

dollar

s on a Bel Air property that it is currently trying to sell for 59 million, in addition to these current debts, Nile Miami has also faced some problems with its neighbors during the closures.
Neighbors have complained that hundreds of people without masks showed up at the party. buses blasting music through speakers installed at the entrance to Niles properties and drunk guests shouting and arguing in the street until the wee hours of the morning, according to the Daily Mail Miami has been fined five times for parties at its properties. properties that violated Los Angeles social distancing rules These five fines represent a third of the 15 findings the city has handed out since last August, although Nile Miami may be sitting in a $500 million house of cards, it's for sure Say you're still finding time to have fun even with these mounting debts and no sales. properties putting pressure on the market some real estate agents still think it's unwise to bet against

nile

miami in the words of

nile

s west hollywood property listing agent josh altman in the high-stakes game of trophy properties, a sale can make or undo someone.
A big deal can get someone back on top quickly because the margins on them are millions and millions of dollars and it seems like right now Niall is trying to use every idea he can think of to sell the property. Miami launched a new social media campaign calling everyone. 200 Instagram influencers will promote the property on their social media accounts if any of the influencers find a buyer and sell. One Nile says they will be paid $1 million for their efforts in this high-risk industry. Mega mansions are houses almost completely built under the speculation that once they are finished they will be able to find a potential buyer.
The advantages of specific mega-mansions like this one are that they often have the potential for higher returns on investments, but the risk is that they tend to take longer to sell and a slow sale often reduces profits - in fact, the bill annual property tax is costing Nile only $1 million currently. Niall says he has some potential buyers interested in the property, but we'll have to wait and see if any of them ever do. Meanwhile, he writes a check to Niall. Niall has supposedly been renting out some of her unsold properties to groups of tic tac stars who earn him up to fifty thousand dollars a month.
In addition to this, in a recent interview, Nile also mentioned that he would be opening the place to investors who were interested in joining the property until the property finds a buyer. Niall says his goal is to start hosting large-scale events, such as celebrity boxing matches or even the Grammys, which he says he has the crazy idea with a foreclosure looming. Nile said he has been facing a lot of stress and, in fact, is exhausted according to According to a news report, Nile found the specific mega-mansion industry so stressful that he decided to launch a fast-casual rolled pizza chain in 2019 to have a source secondary income after the completion and sale of the sole.
Nile Miami said he is getting out of real estate. Business, I can do one or two more houses after this, but I'm not going to do the level of houses I'm doing now, it's too much stress, I'm exhausted by the end, it will be interesting to see if Niall is able to do it. make a sale for the most expensive listing in the world. Let me know what you think of this

story

in the comments below. I'm curious to know, I don't care who you are or how much money you have. Never build this house again and with all that being said, thanks for watching, if you enjoyed the video don't forget to hit the like button and if you're new to the channel make sure to subscribe to see more videos like this every week.

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