Tuesday, May 26, 2015

Thank You Janet Yellen: Developer Building $500 Million Home

Nile Niami, a film producer and speculative residential developer, is pouring concrete in L.A.’s Bel Air neighborhood for a compound with a 74,000-square-foot (6,900-square-meter) main residence and three smaller homes, according to city records. The project, which will take at least 20 more months to complete, will exceed 100,000 square feet, including a 5,000-square-foot master bedroom, a 30-car garage and a “Monaco-style casino,” Niami said, reports Bloomberg.

He expects to sell it for $500 million.

The current highest U.S. asking price is $195 million for Palazzo di Amore, a Beverly Hills, California, estate being offered by billionaire real estate entrepreneur Jeff Greene. The record for a sale was the $147 million that Barry Rosenstein, managing partner at hedge fund Jana Partners, paid last year for an estate in East Hampton, New York.



  1. I think human beings with egos this large should be classified as mentally ill. I couldn't be less impressed if I tried.

  2. The ability to get rich producing expensive things that no one really wants or can afford is quite a skill. Think Elon Musk. I'm in the wrong business...

  3. Koyaanisqatsi: Life out of balance